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3 years ago

For external reporting purposes, U.S. GAAP allows companies to use

Business

1 answer:

DanielleElmas [232]3 years ago

6 0

Answer:

1. Only the traditional format of the income statement.

Explanation:

For external reporting purposes, United States of America, Generally Accepted Accounting Principles (GAAP) allows companies to use only the traditional format of the income statement.

United States of America, Generally Accepted Accounting Principles (GAAP) is the accounting principles, procedures and standard issued by the Financial Accounting Standards Board (FASB) and adopted by the United States of America, Securities and Exchange Commission (SEC).

When accountants prepare and compile financial statements for public firms, it must be in line with United States of America, Generally Accepted Accounting Principles (GAAP).

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People are demanding more apartments than sellers are willing to offer. This means that there is a _____ of apartments. surplus

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People are demanding more apartments than sellers are willing to offer. This means that there is a shortage of apartments.

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4 years ago

Read 2 more answers

planning concerned with long-range decisions such as defining the scope of business is referred to as

oksano4ka [1.4K]

Answer: strategic planning

Explanation:

A planning concerned with long-range decisions such as defining the scope of business is referred to as the strategic planning.

Strategic planning helps in giving a business or an organization a direction which is required in knowing where the company is presently and where the company intends going.

The strategic plan shows the visions,, missions, of the organization and the necessary steps that such organization will take to achieve its goals.

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3 years ago

Snowberry Corporation had a net increase in Retained Earnings of $182,000 for the year. The corporation also paid $56,000 of cas

Zolol [24]

Answer:

$232,400

Explanation:

Data provided

Net increase in Retained Earnings = $182,000

Dividend declared for the year = $50,400

The computation of net income for the current year is shown below:-

Net income for the current year = Net increase in Retained Earnings + Dividend declared for the year

= $182,000 + $50,400

= $232,400

Therefore for computing the net income for the current year we simply added the net increase in retained earning with dividend declared for the year.

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3 years ago

Outback Outfitters sells recreational equipment. One of the company’s products, a small camp stove, sells for $140 per unit. Var

dsp73

Requires is important sometimes

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3 years ago

TropiKana Inc., a U.S firm, has just borrowed euro 1,000,000 to make improvements to an Italian fruit plantation and processi

marta [7]

Answer:

$74,250

Explanation:

The computation of interest pay at the end of the first year is given below:-

Interest pay at the end of the first year = Borrowed Euro × Euro at the time of loan × Interest rate per year

= 1,000,000 euro × $1.35/euro × 5.50%

= $74,250

Therefore for computing the interest pay at the end of the first year we simply multiplied the borrowed euro, euro at the time of loan and interest rate per year.

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4 years ago