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2 years ago

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

Business

1 answer:

DanielleElmas [232]2 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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What percentage of individuals aged 65 and over rated their health as good, very good or excellent during the period of 2006-200

OLEGan [10]

The correct answer for this question would be 75% seventy-five percent. The percentage of individuals aged 65 and over who rated their health as good, very good or excellent during the period of 2006-2008 is 75%. Older men and women reported similar levels of health. Hope this answer the question.

6 0

2 years ago

10. You are offered an annuity that will pay you $200,000 once every year, at the end of each year, for 25 years (i.e. the first

seraphim [82]

Answer:

PV= $2,749,494

Explanation:

Giving the following information:

Cash flow= $200,000

Number of periods= 25

Interest rate= 5.25%

First, we need to calculate the future value using the following formula:

FV= {A*[(1+i)^n-1]}/i

A= annual cash flow

FV= {200,000* [(1.0525^25) - 1]} / 0.0525

FV= $9,881,102.14

Now, the present value:

PV= FV/(1+i)^n

PV= 9,881,102.14 / (1.0525^25)

PV= $2,749,494

6 0

3 years ago

Finch Company began its operations on March 31 of the current year. Finch Co. has the following projected costs: April May June

sergeinik [125]

Answer:

The cash payments for Finch Company in the month of June is $185,600.

Explanation:

Cash payment : Cash payment is that payment which is deals only in cash or the payment is only paid in cash.

So,

To compute the cash payment for June month, the following things is need to be considered.

1. Manufacturing cost of April and May

All other cost like - insurance cost, property tax is not need to be considered because it is not related to may month.

So,

= 3÷4 of May month + 1÷4 of April month

= 3÷4 × $195,200 + 1÷4 × $156,800

= $146,400 + $39,200

= $185,600

Hence, The cash payments for Finch Company in the month of June is $185,600.

3 0

2 years ago

Charles delivers flowers. He aerns $5.57 to deliever a flower arrangement. Last week he made $746.38. How many arrangements did

Wittaler [7]

Answer:

134

Explanation:

i divided 746.38 by 5.57 and thats your answer

3 0

2 years ago

Interstate 4 (i-4) and state road 408 are two major highways that affect traffic flows in orlando. motorists are not required to

Alexus [3.1K]

If at a given time of the day, the state road 408 is higly congested, then it could be considered to possess the properties of a COMMON PROPERTY GOOD.
There are four types of economic goods, these are: public goods, private goods, common property goods and club good.
Common properties goods are those goods which are characterised by rival consumption and non exclusion of non payers. Rival consumption implies that consumption by a user imposes limitations on what others can consume, but a user can not stop another user from enjoying the good. Common property goods are equally owned by everyone and are not controlled by anyone in particular, thus these goods usually need government intervention.

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2 years ago