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Gennadij [26K]
4 years ago
15

Generally accepted accounting principles (GAAP) requires the expenses incurred to generate revenues be matched in the same perio

d.
True/False
Business
1 answer:
spin [16.1K]4 years ago
8 0

Answer:

The statement is: True.

Explanation:

The matching principle of the Generally Accepted Accounting Principles (<em>GAAP</em>) states that the expenses a company incurs during a period must match with the revenues those expenses were incurred during the same period. This principle is usually implemented with the accrual accounting method leaving in clear that expenses are incurred to generate profit.

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Under corporate social responsibility theory, to who(m) does the chairman and CEO of the company owe an ethical duty? a) The wor
Morgarella [4.7K]

Answer: Option B

 

Explanation: In simple words, corporate social responsibility refers to the business model which states that the business organisation has gained its resources from all its stake holders and hence it owes some moral accountability to all of them.

Thus, as per the given case, the chairman owes responsibility to all the stakeholder whether they are customers, shareholders, workers and community.

3 0
3 years ago
What will happen when individuals and businesses are permitted to trade freely over a larger market area?
nydimaria [60]

They will be able to produce more and have access to buying a more diverse set of goods.

Consider the example of internet shopping, which allows the customer to buy from companies all over the world and access a wider range of products.

7 0
4 years ago
The Allowance for Bad Debts account had a balance of $6,300 at the beginning of the year and $8,100 at the end of the year. Duri
shutvik [7]

Answer: $9,600

Explanation:

Past-due accounts written off = Beginning Allowance balance + Bad Debts expense - Ending Allowance Balance

= 6,300 + 11,400 - 8,100

= $9,600

6 0
3 years ago
The __________ phase is probably the single most important determinant of shareholder value creation in mergers and acquisitions
BARSIC [14]

Answer: Post acquisition integration (B)

Explanation:

Post acquisition integration is a complex process of rearranging and combining businesses to materialize the potential efficiencies and synergies which usually motivate acquisitions and mergers.

The process, is usually lengthy and resource intensive. The importance of post acquisition integration cannot be understated, as it allows an acquiror to acquire the long-term value that he or she seeks from the transaction. It is a vital determinant on value creation for the shareholders in acquisitions and mergers.

6 0
3 years ago
Read 2 more answers
BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 paid to its employee, and FICA Medicare
aev [14]

Medicare tax is always payable on gross pay as Descibed below|

<u>Explanation</u>:

Note: 1

FICA Social security’s tax

FICA - social security tax is payable on maximum wages of $128,400.

Once an employee's year to date earnings or cumulative earnings exceed the wage base of $128,400, no additional Social Security tax isto be withheld from the employee's earnings.

So, before calculating the FICA - social security tax, we have to check whether the September earnings along with cumulative earnings until August is exceeding $128,400 or not .

If September earnings plus cumulative earnings until August is exceeding $ 128,400, then.

Social Security tax = [($128,400 minus Cumulative earnings until August) or gross salary whichever is lesser] into 6.20%. and if it is not, then

Social Security tax = Gross pay during September into 6.20%

Note 2

FICA minus Medicare tax

Medicare tax is always payable on gross pay. Medicare tax = Gross pay x 1.45%

6 0
3 years ago
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