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IrinaVladis [17]
3 years ago
14

Mega Loan Company has very stringent credit requirements and, accordingly, has negligible losses from uncollectible accounts. Th

e company's independent accountants did not protest when, contrary to GAAP, the company recorded bad debt expense only when specific accounts were determined to be uncollectible, rather than use an allowance for uncollectible accounts. The concept demonstrated is:_________ a) Comparability. b) Faithful representation. c) Cost-effectiveness. d) Materiality.
Business
1 answer:
lora16 [44]3 years ago
5 0

Answer:

d) Materiality

Explanation:

Materiality is defined as the impact of the omission of trivial matters that are important to the report audience. In the question given this materiality is the reason why the company's independent accountants did not protest.

I hope you find this information useful and interetsing! Good luck!

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Should eyewitness testimony be allowed in the courtroom? Write at least three paragraphs discussing your position.
Andrews [41]
(Paragraph 1) Should eyewitness testimony be allowed in the courtroom? No but at the same time yes. There are many reasons why they should but shouldn't. It is a risk to their safety, some eyewitnesses are not liable, they could be paid off but at the same time their testimony could help win a case. (Paragraph 2) Depending on a crime, the eyewitness safety could be in danger. If the case was against a member of a gang or mafia. They could send someone after that witness. This is reason why we have the Witness Protection Program. If they testify they put their lives at risk. (Paragraph 3) Having a witness is a key thing to have. If you have a witness you are the one who most likely the one to win the case. In some cases you could have problems with the witness not being liable, getting paid off to not say anything or to lie. Or in most cases if they are confused they will not have them testify. Or they aren't straight on the details and keep changing the story that usually means they are lying on what they saw. Note: This is a summary. Add more and edit it to make it sound like something you would type.
7 0
3 years ago
Zeta Corporation is a manufacturer of sports caps, which require soft fabric. The standards for each cap allow 2.00 yards of sof
ad-work [718]

Answer:

Direct material price variance= $2,500 favorable

Explanation:

Giving the following information:

The standards for each cap allow 2.00 yards of soft for $2.00 per yard. During January, the company purchased 25,000 yards of soft fabric at $2.10 per yard, to produce 12,000 caps.

<u>To calculate the direct material price variance, we need to use the following formula:</u>

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= (2 - 2.1)*25,000

Direct material price variance= $2,500 favorable

7 0
3 years ago
To maintain good citizenship as a company and to make a fair profit on current operations are examples of _____. values
Radda [10]
Those are examples of values.
Values is a set of standard that held by certain individuals or group that would be a crucial factor in creating their moral codes.
Different companies may held completely different values based on what they want to achieve as their goals and identity.
7 0
3 years ago
If the consumption function is C​ = 100​ + 0.75Y and planned investment spending is 500​, what will be the equilibrium level of​
snow_lady [41]

Answer:

The equilibrium level of​ output will be Y=2200

Explanation:

Comnsider the following formulas to solve the exercise.

1. Using the Expenditure approach to GDP,

Y=C+I+G

Y=200 + 0.75(Y-200)+200+300

Y=700+0.75Y-150

0.25Y=550

The equilibrium level of​ output will be Y=2200

7 0
3 years ago
Pursuing its own best interests, Firm A will concede that cigarette smoke causes lung cancer _____. Group of answer choices None
marshall27 [118]

Answer:

None of the following answer choices is correct.

Explanation:

In pursuing its own best interest Firm A will in no case concede that cigarette smoking causes lung cancer. Cigarette smoking is injurious to health and mostly firm print this warning on the cigarette labels but since it is an addiction people do not care to read this.

6 0
3 years ago
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