Answer:
The answer is:
Disagree
The matching principle is violated
Explanation:
The order of a customer worth $40, 000 was received at year end. However, the merchandise will only ship in the year following the fiscal year. When goods are shipped, revenue is recognised on shipping the goods or receipt of the goods by the customer. According to the information provided, merchandise will only be shipped in 2021, therefore the customer will only receive the goods in 2021. Given this information, recognising revenue in the current period would be an incorrect treatment of the transaction and contravene the matching principle. This principle indicates that revenue and the costs associated with the revenue should be recognised in the same period.
The sale should not be recognised in 2020 because the goods' delivery and the costs incurred in delivering those goods will only be incurred in 2021. No indicated payment, cash or otherwise, was received in lieu of this transaction. Recognising this sale in the income statement and the associated asset in the statement of financial position could be misconstrued as an attempted enhancement of Pastel Inc.'s financial position for the 2020 fiscal year end.
Answer:
a. economies of scale.
Explanation:
Local electricity companies generally have natural monopolies resulting from both economies of scale and/or control of natural resources. Economies of scale refers to the average total costs decreasing as the total output generated by the company increases. For example, it is extremely expensive to generate electricity for 1 single home, but the average total cost for generating electricity for 1 million homes is very low. Generally utilities are monopolies because it is very expensive to set and start operating the company, but once it is operating its average costs per consumer are very low.
Answer:
The answer is: Economic profits is equal to the difference between accounting profits and implicit costs.
Explanation:
Unlike accounting profits which only take explicit expenses into account, Economic profits take both explicit and implicit costs into account to come up with the net worth a firm/a project is generating.
These implicit costs are opportunity costs which by operating a firm or by taking a project, an economic benefit has to be sacrificed for the firm or the project to be operated/ carried out.
So, to come up with economic profit from accounting profit, we have to further subtract implicit cost from accounting profit or:
Economic profit = Accounting profit - Implicit costs.
Answer: The answer is True. Donna committed Multiple Reimbursement.
Explanation:
Multiple reimbursement is when an employee purchases a particular product or service and tenders different forms of payment receipts for the purpose of profiting from his/her employer/organization.
As in the question above, we can see that Donna Holbrook did not use the initial receipt from the credit card transaction. Instead, she tendered another receipt from the store for the same expense in her expense report. In this case, the cost for the office supplies had already been paid for by the company, but Donna reported a different receipt, hoping it would serve as proof that she in fact incurred the cost herself and therefore be reimbursed.
The company will therefore, be incurring the same cost twice.
Answer: Big data analytics
Explanation:
The big data analytics is one of the type of concept that helps in understanding the various types of complex set of the data that is used to detecting the various types of hidden information or patterns.
The main objective of the big data analytics is to extracting the various type of useful data elated the market, the preferences of the users and also the various types of benefits based on the applications.
According to the given question, the big data analytics is one of the best example that helps in illustrating the given situations based on the given data processing information.
Therefore, Big data analytics is the correct answer.
