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DaniilM [7]
3 years ago
5

The principle prescribing that financial statements reflect the assumption that the business will continue operating instead of

being closed or sold, unless evidence shows that it will not continue is the: A. Going-concern principle B. Business entity principle C. Objectivity principle D. Cost Principle E. Monetary unit principle
Business
1 answer:
Simora [160]3 years ago
8 0

Answer:

A. Going-concern principle

Explanation:

The correct Choice is A.

This concept assumes that the business unit will continue operating under the same economic conditions and in the same general environment. But it does not assume that the business unit will be profitable as long as it exists.

Accounting is based on the assumption that business unit will be operating for long. When a business is started , it is assumed that the business will not be dissolved in the near future. The accounting system provides a continuous record of the performance of the business throughout its existence.

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​A television network decides to run a series of news stories highlighting the need for stronger regulations over gun sales and
DiKsa [7]
This is an example of.... Libtards... I mean the Democratic system that’s running&ruining this country.
7 0
2 years ago
Valuing Trading Securities at Fair Value On January 1, Valuation Allowance for Trading Investments had a zero balance. On Decemb
Artist 52 [7]

Answer:

Dr. Trading securities                                    $4,800  

Cr. Unrealized gain on trading securities    $4,800

Explanation:

Trading securities are recorded reported on the fair market value. The gain or loss arise from the increase or decrease in the value of trading securities. There is a gain if the price of trading security increases and loss when the price of the trading security decreases. Unrealized gains are reported in the separate section of stockholders equity.

Gain on Trading securities = Fair value of security portfolio - Cost of security portfolio = $46,300 - $41,500 = $4,800  

6 0
3 years ago
On the basis of this information, which of the following statements is CORRECT? a. Prestopino's cash on the balance sheet at the
mylen [45]

Answer:

b. Prestopino had negative net income in the current year

Explanation:

Retained earnings at the end of previous year were $700,000, but retained earnings at the end of current year had declined to $320,000.

• The company does not pay dividends.

• The company's depreciation expense is its only non-cash expense; it has no amortization charges.

• The company has no non-cash revenues.

• The company's net cash flow (NCF) for current year was $150,000.

On the basis of this information, which of the following statements is CORRECT? Prestopino had negative net income in the current year

Prestopino DECPRECIATION expense in the current year was less than $150,000 and Prestopino had postive net income in the currnet year however, this income was less than it was in the previous year income.

Prestopino NCF in the current year must be higher than its NCF in the previous year and it cash on the balance at the end of the year must be lower than the cash it had on the balance sheet at the end of previous year

8 0
3 years ago
BTC, a consulting company with offices across the United States, began an employee discussion forum on its website. A few employ
AnnZ [28]

Answer:

c) moderators.

Explanation:

Since BTC doesn't want to limit employee interaction, but at the same time, it would like to limit what employees can write. The use of moderating features of a discussion forum through the service of a moderator will help them achieve this effectively and efficiently.

A moderator is a neutral individual who has the sole responsibility and skill set to preside and regulate discussions, by ensuring participants do not stray off from the subject matter and the time allotted to them.

4 0
2 years ago
Bill McDermott is the CEO of SAP, which is a company that sells expensive enterprise resource planning software to large and mid
KonstantinChe [14]

Answer:

corporate

Explanation:

Corporate level of an organisation involves the whole organisation. The organisation is made up of business units and product lines.

So when one functions at the corporate level he is responsible for all aspects of the business.

In this instance Bill McDermott is the CEO of SAP is in charge of all departments and production lines of the company.

On the other hand functional level deals with a particular department within the organisation. For example human resources, operations, and so on.

3 0
3 years ago
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