A business that does not need a full-time accountant, would most likely use a public accountant in which services are exchanged for a fee.
<h3>Who is an accountant?</h3>
An accountant is a professional who is responsible for analyzing and interpreting financial records of an organization. He also keeps the financial records of business or firm that employs him.
The role of an accountant include performing accounting functions such as:
- Analyzing accounts
- Auditing
- Reporting the financial transactions of a person or a business.
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Answer:
The correct answer is A
Explanation:
Designer worksheet is the one such document which states the work or the potential in the designer or the person. It is that document which contains or comprise of the portfolio of the designer, having or shown the previous work which is done by the designer or the person in his or her last company and the few or some of the sample designs which provide an idea to other person regarding the potential or taste of the designer.
Answer:
C. I: assets; II: liabilities.
Explanation:
Assets are the physical and intangible properties of business or individual. They are resources used in generating revenues or profits for a business. Assets add value or increase the capital of a company. Examples of assets include cash, inventory, investments, office equipment, and plant and machinery.
Liabilities are debts or obligations that a firm or individual owe to other entities or individuals. Liabilities decrease the net value of a company. Examples of liabilities include Bank debt, money owed to suppliers (accounts payable), Wages owed, and Mortgage debt.
Cash belonging to a bank but held in another bank account is, therefore, an asset, while money borrowed is a debt, hence a liability.
$600,00 is the Stakeholder Equity Balance.
Stakeholder Equity Balance = Total Assets - Total Liabilities
= $1,000,000 - $400,000
= $600,000
<h3>
What is Stakeholder Equity?</h3>
The balance sheet account for stockholders' equity, sometimes referred to as shareholders equity is made up of share capital plus retained earnings. It also symbolizes the difference between the value of assets and obligations. Assets = Liabilities + Stockholders Equity is the original accounting formula, however, it can also be written as
Stockholders Equity = Assets - Liabilities.
Components of the stakeholder Equity are:
- Share Capital is the term used to describe funds that the reporting company receives from transactions with its owners.
- Retained Earnings are income-derived quantities also known as Accumulated Other Comprehensive Income and Retained Earnings (for IFRS only).
- Dividends and Net Income: Dividend payments lower retained profits while net income increases them.
Therefore, $600,000 is the stakeholder equity balance.
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Answer:
A- Both firms will set the price at $35
Explanation:
When there is no collusion,
When Y charges $40, X's best strategy is to charge $35 since payoff is higher ($59 > $57).
When Y charges $35, X's best strategy is to charge $35 since payoff is higher ($55 > $50).
When X charges $40, Y's best strategy is to charge $35 since payoff is higher ($69 > $60).
When X charges $35, Y's best strategy is to charge $35 since payoff is higher ($58 > $59).
Therefore Nash equilibrium is: ($35, $35).
