The income statement is prepared first. The income statement i<span>s a financial statement
that reports the company's financial performance (profit and loss) over a specific
accounting period. It describes how the business incurs its revenues and expenses, and it is also referred as </span>profit and loss statement (P&L). With help of this report management knows if the business made money during the period reported.
With no doubt the answer that is correct is the last one: <span>someone with lots of experience in one career field. This type of resumé are usually used by people who have had many different jobs. It requires a lot of experience. So the last option is the correct one. </span>
Answer:
Option C Incorrect; adjusting for price changes, his salary is less than his dad's salary
Explanation:
Adjustment to price changes = (Amount received n years ago divided by Price Index n years ago) * Price Index today
Adjustment To price changes = ($28,000 / 110.8) * 180.5 = $45613.7
The amount $28,000 is worth $45,613.7 in todays value which means that if we adjust for price changes, Dave is incorrect because his salary is worth less by an amount $613.7 from his father's salary.
Answer: b. When population exceeds real GDP growth
Explanation:
Gross domestic growth(GDP) is the monetary value of all finished goods and services done within in a country over a period of time. When the population of a country exceeds what it produces there would be record in decline in productivity of the country. This is a serious problem as it could lead to other factors as scarcity(having high demand and low supply), it could lead to poverty as there won't be much jobs as production is not commensurate with population.
Answer: verifiable
Explanation:
A financial information is verifiable when the independent measurers get similar results when using the same accounting measurement methods.
In this scenario, the independent measures use thesame method but do their work separately without them knowing the results gotten by the other person. When there's similarity in the results, it shows that the results are verifiable.
