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3 years ago

LO 1.2What are the key differences between financial accounting and managerial accounting?

Business

1 answer:

Alex_Xolod [135]3 years ago

5 0

Answer:

Difference between managerial accounting and financial accounting is described as follows:-

Managerial accounting is the accounting process for observing and recording business transaction whereas information and facts of accounts that are collected to make financial statement called financial accounting.
Managerial accounting reports about the issue and obstruction that are occurring in the business processes and the measure to fix it are planned whereas financial accounting deals with profit generation .
Managerial account processes by accounting every level of business internally but financial accounting look business as a whole level.

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pantera1 [17]

Answer:

The correct answer is letter "E": attention; action.

Explanation:

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3 years ago

A company reports the following amount in its December 31, Year 1, income statement.

kow [346]

Answer:

Multiple-step income statement for the year ending December 31, year 1

Sales $275,200

Cost of Goods Sold ($185,000)

Gross Profit $90,200

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Income taxes ($25,000)

Operating Income after Tax $35,200

Explanation:

Multi-step Income statement segregate the Operating Income and Expenses from non operating Income and Expense. It shows the gross profit and net operating income separately.

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Answer:

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Explanation:

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VU= $56,700×0.65/.162

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VL= $230,825

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