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3 years ago

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

Business

2 answers:

solniwko [45]3 years ago

8 0

Unit of measure concept

s344n2d4d5 [400]3 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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A company began the year with assets of $117,000, liabilities of $28,500, and stockholders' equity of $88,500. During the year a

algol [13]

Answer:

Change in liabilities = $33,300

Explanation

<em>According to the accounting equation, assets is equal to liabilities + equity. And this equation can be re-written as:</em>

Liabilities = assets - equity

Liabilities at the end of the period = assets at the end - equity at the end

Assets at the end= 117,000 + 56,700= 173,700

Equity at the end = 88,500 + 23,400 = 111,900

Liabilities at the end = 173,700 - 111,900=61800

Change in liabilities = Liabilities at the end - Liabilities at the beginning

Change in liabilities = 61,800 - 28,500= $33,300

8 0

3 years ago

What’s the purpose of balancing or monitoring your checking account?

MaRussiya [10]

Answer: To help you calculate how much money you have in your account. The best way to ensure the accuracy and safety of your accounts is to.. Monitor your online accounts regularly.

Explanation:

4 0

3 years ago

Johnson & Coleman has created a new line of premium quality writing desks. The company marketed the product by highlighting

KIM [24]

Answer:

I believe the answer is d

Explanation:

4 0

3 years ago

Information for Nighttime Company's direct labor cost for February is as follows: Actual direct labor hours 70,000 Total direct

podryga [215]

Answer:

71,100

Explanation:

The calculation of standard direct labor hours is shown below:-

Labor rate variance = (Actual rate - Standard rate) × Actual hours worked

$35,000 = ($497,000 ÷ 70,000 - Standard rate) × 70,000

(7.1 - Standard rate) = $0.5

= $6.6 per hour

= Labor variance efficiency = (70,000 - Standard hour) × $6.6 per hour

= -$7,260 = (70,000 - Standard hour) × $6.6 per hour

Standard hours = $70,000 + 1,100

= 71,100

8 0

3 years ago

How did the government help the economy?

melomori [17]

The government helped the economy by preventing monopolies that way small independent buissness could survive.

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3 years ago