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spayn [35]
4 years ago
5

If a common stock investment is sold at a gain, the gain Select one: a. is reported in the Other Revenues and Gains section of t

he income statement. b. contributes to gross profit within the income statement. c. is reported as operating revenue. d. is reported under a special section titled "Discontinued Investments" on the income statement.
Business
1 answer:
kozerog [31]4 years ago
3 0

Answer:

The correct answer is letter "A": is reported in the Other Revenues and Gains section of the income statement.

Explanation:

The Other Revenues and Gains section of the Income Statement all those income a firm earned given a period as a result of transactions that do not belong to the company's business. They are also called non-operating revenue. A typical example of a non-operating revenue is the interest earned for selling on credit.

Therefore, <em>the proceeds from a common stock investment sold at a gain will be recorded in the Other Revenues and Gains section of the Income Statement.</em>

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from the following list, identify those that are likely to serve as source documents. (you may select more than one answer. sing
djyliett [7]

Sales tickets

Sales tickets Telephone bill

Sales tickets Telephone bill Invoice from supplier Bank statement

<h3>What is a source document ?</h3>

The source document is the original record of a business transaction. The parties involved in a transaction, any payments made, the date, and the specifics of the transaction are all recorded in a source document.

  • Typical examples of source documents are sales receipts, checks, purchase orders, invoices, bank statements, and payroll records. These are all original documents that were created as a result of a transaction and the initial components of an accounting system.

Learn more about Source document here:

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6 0
1 year ago
What would be the best reason for the United States to provide military aid to another country? to protect an established allian
stira [4]

The best reason for the United States to provide military aid to another country is to protect an<u> established alliance.</u>

<u />

<h3>What is the reason the US providing military aid to other nations? </h3>

The US wants to give security to other nations and establish its supremacy among the nations. It shows its power to big nations by collaborating with<u> small nations. </u>

Therefore, the US form an alliance with these nations and get their support by involving in trading and other economic agreements with them.

Learn more about the US here:

brainly.com/question/1219822

4 0
3 years ago
Read 2 more answers
Monopolistically competitive firms do not achieve allocative efficiency because the _____. Multiple choice question. price for a
andreev551 [17]

Answer:

price for a monopolistically competitive firm exceeds the marginal cost

Explanation:

Monopolistically competitive firms do not achieve allocative efficiency because the <em>"price for a monopolistically competitive firm exceeds the marginal cost"</em>

Allocative efficiency is known to be an economic concept which actually regards efficiency at the societal level. This usually refers to the production of the optimal quantity of some output. The quantity produced is actually the marginal benefit of one more unit which the society enjoys and which is equal to the marginal cost.

In a monopolistically competitive industry, they will produce a lower quantity of a good and then their prices will be higher than would a perfectly competitive industry. A monopolistic competitive firm’s demand curve actually slopes downward. This then means that it will charge a price that exceeds marginal costs.

4 0
3 years ago
Assume that you are the owner of Campus Connection, which specializes in items that interest students. At the end of January of
Nookie1986 [14]

Answer:

The amount of net income for January was $24,100

Explanation:

Revenues from sales $115,100 (for this analysis is not important if the sales were in cash or on credit)

-

Cost of goods sold $48,000

------------------------------------

Gross profit $67,100

-

Salaries, rent, supplies, advertising, other expenses and monthly utilities (it is not important for this analysis if all the exenses were paid) -$43,000

-----------------------------------

Net income $24,100

3 0
4 years ago
In a management information system (MIS), the quality of information is determined by its usefulness to users, and its usefulnes
Tcecarenko [31]

Answer:

The correct answer is True.

Explanation:

The proper functioning, within the normal standards of a GIS, means that the information can reach the hands of the decision makers. The quality of the information that arrives, is based on other procedures and structures that are previously defined in the organizational strategy, and its processing depends on the specialization and differentiation of the positions within the organization; that is, the data selected and analyzed by the human resources department is different from the information selected and analyzed by other departments such as marketing, for example (differentiation is shown); but on the other hand, the level of analysis and depth that is given to the information will be variable depending on the specialists and the hierarchical levels within the same department; for example, the depth in the analysis of the data of who occupies the position of Human Resources Manager, and who occupies the position of human resources practitioner (specialization is revealed), therefore the experience and degree of specialization for the objectives of the department, are filters for data analysis.

------

NOTE: If you need to extend the explanation given, you can make a comment or add a new question. I will be very pleased to help you.

3 0
3 years ago
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