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4 years ago

Which of the following concepts requires that economic data be recorded in dollars in the United States?

Business

2 answers:

solniwko [45]4 years ago

8 0

Unit of measure concept

s344n2d4d5 [400]4 years ago

4 0

Answer:

Unit of measure concept

Explanation:

The definition for a unit of measure refers to a common principle used throughout accounting, whereby all activities should be reported uniformly using the same currency. For instance, a business that holds its documents in just the U.S. will report its whole dealings in U.S. dollars, whereas a German company will report all its payments in euros.

If a transaction includes transactions or transfers in another currency, the sum is translated until being registered to the domestic currency utilized by an entity. Without a specific standard unit, financial reports will be impossible to generate.

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Rapid Enterprises applies manufacturing overhead to its cost objects on the basis of 75% of direct material cost. If Job 17X had

lozanna [386]

Answer:

Direct material cost = $112,000

Explanation:

<em>Pre-determined overhead absorption rate rate = Estimated overhead for the period / estimated direct material cost</em>

Pre-determined overhead absorption rate rate (OAR= 75% of direct material cost

Applied overhead = OAR × direct material cost

Applied overhead = 75% × direct material cost

Let direct material cost be represented by y

84,000= 75% × y

y = 84,000/75%= 112000

Direct material cost = $112,000

5 0

3 years ago

Glenn is the R&D manager with Quick Print Inc. The company is having a problem with one of its most popular copiers jamming.

xeze [42]

Answer:

Problem Analysis

Explanation:

Problem analysis also known as 'root cause' analysis ensures that “root causes,” not just the symptoms of the problem, are identified and subsequently addressed.

This step comes after the problem identification stage of problem solving.

Therefore as stated in the scenario ''When Glenn analyzes the underlying causes of the paper-jam problem, he is performing the function of problem analysis

5 0

4 years ago

Why do you think a reliable scholarly source is always stressed in academic writing?<br><br>

ivolga24 [154]

A reliable scholarly source is stressed in academic writing because it helps in providing genuine information about the topic that's being discussed.

It should be noted that when one is writing, it is important for the person to use credible sources because the audience expect the researcher to back up their assertions with facts.

Furthermore, using reliable scholarly sources help in the improvement of communication and helps in building trust.

In conclusion, it is vital for an individual or researcher to use only credible sources when writing.

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7 0

3 years ago

A company has the following activities and costs: machine setup of $500,000; machine repair of $100,000; and heating and lightin

Arada [10]

Answer:

250,000

Explanation:

The cost of consumption in a period is defined as utility cost.

Machine setup cost is actually a capital expense and Machine repair cost is needed to maintain the operations/working of the machine.

The only consumption in this example is Heating and lighting cost. The electricity / Gas is used for this purpose.

5 0

4 years ago

A legal arrangement where two or more people share ownership of a business is called a ______. A. Corporation b. Sole proprietor

liubo4ka [24]

The correct statement is that a legal arrangement where two or more people share ownership of a business is called a partnership. So, the correct option is C.

A partnership may be started by two individuals with an intention to share the profits and losses of such business in a predetermined proportion.

<h3>Partnership Firm </h3>

A partnership firm is a form of business organization where at least two individuals put their resources and carry a legal business.

The individuals of a partnership firm are collectively known as partners, where they tend to share the profits and losses proportionately to their capital invested.

There exists vicarious liability among the partners, which means that all the partners are liable for the acts of one or more partner as per the legal contract.

A partnership firm may be terminated by lapse of time, dispute between the partners, dissolution, insolvency, but has a perpetual succession.

Hence, the correct option is C that legal arrangement where two or more people share ownership of a business is called a <u>partnership. </u>

<u></u>

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6 0

2 years ago