The three most frequent misconceptions are that net income equals cash, net income excludes estimates, and net income reports all changes in value that occurred during the accounting period.
One of the three crucial financial statements used to describe a company's financial performance throughout a certain accounting period is the income statement. The balance sheet and the cash flow statement are the other two important statements. The income statement, which is often referred to as the profit and loss (P&L) statement or the statement of revenue and expense, primarily focuses on the company's revenue and expenses over a specific time period. Understanding how to study an income statement is the greatest approach to evaluate a business and choose whether or not to invest.
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Answer:
Oligopoly market structure
Explanation:
The airline industry is characterized by an oligopoly market structure, a form of imperfect competition in which a limited number of firms dominate the industry. Oligopoly firms have market power in setting or altering prices for their products by establishing various output values.
Answer:
$3150
Explanation:
Given:
Cost of the asset purchased = $87500 (on 1st October. 2022)
Salvage value at the end of its useful life = $24500
Useful life estimated = 5 years
Question asked:
What is the depreciation expense for 2022 if Ivanhoe Company uses the straight-line method of depreciation?
Solution:
<u>As we know:</u>
Depreciation expenses per year = $12600
But we have to find depreciation expenses for 2022 for:-
From 1st October, 2022 to 31st December, 2022 = 3 months.
<em><u>Straight-Line Depreciation Expense for Partial Year = </u></em>
<em><u /></em>
Depreciation Expense for 3 months = 
Therefore, the depreciation expense for 2022 if Ivanhoe Company uses the straight-line method of depreciation is $3150.
Answer: Option A
Explanation: The given case relates to the problem of dissolution of partnership and not the dissolution of firm.
In case of dissolution of partnership only the existing agreement among the partners ceases to exist due to leaving or joining of new partners and a new agreement takes place among the existing partners.
In such a case, the account balance of the partner remains same. It changes in case of dissolution of firm.
Hence the correct option is A.
Answer:
false
Explanation:
Market segmentation entails dividing target customers into smaller groupings based on their common shared traits. Segmentation places customers into small manageable groups with similar characteristics such as age, gender, interest, occupation, and geographical location. Customers in the same segment are highly likely to respond uniformly to marketing strategies.
Segmentation enables a business to carry out details research concerning each group. It then offers specific products based on the needs of each target segment.
