1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Vera_Pavlovna [14]
3 years ago
10

“accounting is ingrained in our society and it is vital to our economic system.” do you agree? explain.

Business
1 answer:
iVinArrow [24]3 years ago
4 0
Accounting whether it is good or bad, it is what makes or breaks a business. A good accounting system will offer the management with the tools to make money-making business decisions. Management, large or small, can see what's profitable and what's causing the business to be unable to find money. A poor accounting system, whether it is disordered or simply illegal can collapse a business. Management will make poor decisions based on poor or non-existent accounting systems. Management sometimes chooses to use accounting for unethical motives. In either case, accounting is ingrained in society and affects the economic system for better or worse. Accounting is important because it is a device that gives an indication of how well the economy is growing, the areas that need improvement and the areas that need to be improved.
You might be interested in
Leaders who function primarily by clarifying role and task requirements to accomplish established goals exhibit a(n) ________ st
aksik [14]

Answer: transactional

Explanation:

5 0
3 years ago
Suppose a basket of goods and services has been selected to calculate the consumer price index (CPI) and 2002 has been chosen as
Rudiy27

Answer:

b.100 in 2002

Explanation:

This question can be solved without any calculations. When calculating consumer price index, the CPI for the year chosen as base is always 100. In this case, 2002 was chosen as the base year and, therefore, the CPI was 100 in 2002. Since that is one of the alternatives, no further steps are required and the answer is alternative b.

4 0
3 years ago
Given the following data: Average operating assets $ 504,000 Total liabilities $ 23,520 Sales $ 168,000 Contribution margin $ 85
kipiarov [429]

Answer:

9%

Explanation:

According to the given situation, the solution of return on investment is shown below:-

Return on investment = (Net operating income ÷ Average operating assets) × 100

now, we will put the values into the above formula

= ($45,360 ÷ $504,000) × 100

= 0.09 × 100

= 9%

Therefore for computing the return on investment we simply applied the above formula.

7 0
3 years ago
Tesla, a vehicle manufacturer, incurs the following costs. (1) Classify each cost as either a product or a period cost. If a pro
vlabodo [156]

Answer:

Product cost refers to the costs incurred to create a product. These costs include direct labor, direct materials, consumable production supplies, and factory overhead. Product cost can also be considered the cost of the labor required to deliver a service to a customer.

Examples of product costs are direct materials, direct labor, and allocated factory overhead which are directly attributable to the product.

period cost is any cost that cannot be capitalized into prepaid expenses, inventory, or fixed assets. A period cost is more closely associated with the passage of time than with a transnational event. ... Instead, it is typically included within the selling and administrative expenses section of the income statement.

Examples of period costs are general and administrative expenses, such as rent, office depreciation, office supplies, and utilities. Period costs are sometimes broken out into additional subcategories for selling activities and administrative activities

4 0
3 years ago
Mike and Mary Jane Lee have a yearly income of $79,352 and own a house worth $102,100, two cars worth a total of $ 19,907 and fu
77julia77 [94]

Answer:

Total assets            $

Building                102,100

Motor vehicle       19,907

Furniture               <u>10.442</u>

Total assets          <u>132,449</u>

<u></u>

Total liabilities        $

Mortgage loan      58,347

Outstanding loan  2,567

Utility bills unpaid <u>242</u>

Total liabilities       <u> 61,156</u>

Debt ratio = Total liabilities   x 100

                     Total assets

Debt ratio = $61,156   x   100

                     $132,449

Debt ratio = 46.17%

Explanation:

In this case, there is need to calculate the total assets, which is the aggregate of building, motor vehicle and furniture.

We also need to calculate the total liabilities, which is the aggregate of mortgage loan, car loan outstanding and utility bills unpaid.

Debt ratio is obtained by dividing total liabilities by total assets multiplied by 100.

8 0
3 years ago
Other questions:
  • Orange Cable TV Company, an accrual basis taxpayer, allows its customers to pay by the year in advance ($500 per year), or two y
    7·1 answer
  • Maria wants to start a new business in collaboration with her husband and brother-in-law. The features she is looking for in the
    11·1 answer
  • If teamwork and support are high on your priority list, a _______ may be a poor choice for a business
    14·2 answers
  • The Chattanooga Furniture store gets an average of 50 customers per shift. Marilyn Helms, the manager, wants to calculate whethe
    13·1 answer
  • Sweet Treats common stock is currently priced as $36.72 a share. The company just paid $2.18 per share as its annual dividend. T
    5·1 answer
  • William is a single writer (age 35) who recently decided that he needs to save more for retirement. his 2017 agi is $65,000 (all
    15·1 answer
  • Nment
    7·2 answers
  • The marginal revenue product schedule is: * 1 point A) the same whether the firm is selling in a purely competitive or imperfect
    11·1 answer
  • Golding Bank provided the following data about its resources and activities for its checking account process: Resources Activiti
    6·1 answer
  • What is the term for the idea that some goods will be overused and depleted if not regulated?
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!