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frozen [14]
3 years ago
6

The FASB has the authority to establish accounting and financial reporting standards for which of the following? a) both answers

are true b) neither answer is true c) private not-for-profits d) commercial businesses
Business
1 answer:
kipiarov [429]3 years ago
6 0

Answer:

c) private not-for-profits

Explanation:

The FASB is an independent non-profit organization whose responsibility involves establishing and implementing accounting and reporting standards in the US.  The Generally Accepted Accounting Principles (GAAP) guides  FASB or Financial Accounting and Standards Board in fulfilling its mandate.

The FASB has the authority to interpret the GAAP  for all organizations, including private and public companies, as well as profit and non-profit institutions. FASB set accounting rules and regulations to ensure standards and uniformity in the accounting industry.

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The standards for product V28 call for 8.6 pounds of raw material that costs $19.00 per pound. Last month, 2,600 pounds of the r
aliina [53]

Answer:

A. $520 U

B.178 F

Explanation:

A.

Materials price variance = (AQ × AP) – (AQ × SP)

= $48,880 – (2,600 × $19)

=$48,880-$49,400

= $520 U

Therefore the material price variance for the month is $520U

B.

Materials quantity variance = SP(AQ – SQ*)=

$19 ($2,500 – $2,322) = $178F

Therefore the materials quantity variance for the month $178F

SQ = Standard quantity per unit × Actual output

= 8.6 × 270 = $2,322

7 0
3 years ago
What are the five forms of Utility?
Reptile [31]

Answer:

form utility, time utility, place utility, and possession utility.

Hope it help and take care young lad

6 0
2 years ago
Which of the following is a correct application of Marginal Analysis? a. You buying 4 pairs of shoes for $240 because you are wi
RoseWind [281]

Answer:

Option d is the right one.

Explanation:

  • Marginal research or analysis to optimize future gains as a decision-making method. In comparison to the expenses incurred by this same behavior, it calculates added benefits. The illustration described demonstrates that the marginal gain is smaller than that of the marginal cost.
  • This involves purchasing goods until the marginal gain is equal to the marginal cost.

The other options aren't sufficient for the scenario provided. But that will be the best alternative for option d.

6 0
3 years ago
The VP of Customer Experience at an international hotel chain is constantly looking for ways to improve customer service, whethe
mojhsa [17]

Answer:

The correct answer is Points of interaction.

Explanation:

The term touchpoint refers to all the points of contact between the client and a brand “that imply an interaction with a human need, at a specific time and place” (Risdon, 2013).

If there is an interaction then there is also an exchange of value between the individual and the organization. And professionals in Customer Experience have to understand what kind of value flows. We must ensure that the perceived value is greater than the cost.

On the other hand, the fact that an interaction occurs before a specific human need tells us that we must know what drives it. The need is what marks the nature of the interaction. In other words, the design of an experience changes radically depending on the needs involved.

8 0
3 years ago
Jason Allen is 30 years and wants to retire when he is 65. So far he has saved (1) $6,960 in an IRA account in which his money i
grandymaker [24]

Answer:

It will make annual deposits for $ 4,056.202

Explanation:

His goal is a future value of 1,000,000 in 35 years.

we will deduct from this the future value of his other investment:

<u>IRA</u>

Principal \: (1+ r)^{time} = Amount

Principal 6,960.00

time      35.00

rate                0.08300

6960 \: (1+ 0.083)^{35} = Amount

Amount 113,397.95

<u>Market account</u>

Principal \: (1+ r)^{time} = Amount

Principal 4,310.00

time     35.00

rate               0.05250

4310 \: (1+ 0.0525)^{35} = Amount

Amount 25,837.53

<u>Proceeds required from the fund:</u>

1,000,000 - 113,397.95 - 25,837.53 =  860,764.52

Now we calculate the PMT:

PV \div \frac{1-(1+r)^{-time} }{rate} = C\\

PV  $860,764.52

time      34 years

(we must notice it will beging this investment next year, so at 31 years old)

rate                0.0934

860764.52 \div \frac{1-(1+0.0934)^{-34} }{0.0934} = C\\

C  $ 4,056.202

5 0
3 years ago
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