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iren [92.7K]
3 years ago
8

Mega Loan Company has very stringent credit requirements and, accordingly, has negligible losses from uncollectible accounts. Th

e company's independent accountants did not protest when, contrary to GAAP, the company recorded bad debt expense only when specific accounts were determined to be uncollectible, rather than use an allowance for uncollectible accounts.
The concept demonstrated is:(A) Materiality. Correct(B) Cost-effectiveness.(C) Faithful representation.(D) Comparability.
Business
1 answer:
AfilCa [17]3 years ago
6 0

Answer: The correct answer is "(A) Materiality.".

Explanation: The concept demonstrated is Materiality because by having a mechanism for preventing bad accounts through their strict requirements, they only recorded bad accounts when they actually existed, instead of making a provision.

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Which of these an example of something restitution would likely be required
vazorg [7]

Answer:

A $200 ticket

Explanation:

The term "restitution" is used when returning a lost or stolen item back to its rightful owner.

Analyzing the given options:

Hospital Bill, Lawyer's Fee and Filing Fee are fees paid in exchange for the service of the hospital, lawyer or agent, as the case may be.

Same can't be said of A $200 ticket

A $200 ticket can be misplaced its owner or stolen. Comparing this analysis with the highlighted definition of restitution, we can conclude that option (D) answers the question correctly.

8 0
4 years ago
In 2008, the United States began to witness one of the worst recessions since the 1930s. The collapse of the housing bubble in 2
deff fn [24]

Answer:

B. Liquidation.

Explanation:

Liquidation is and aftermath of the inability of a company or establishment to meet up with her obligations at the required moment. Thus, the company folds-up, lay off her staff and stop operating. While reorganization is a form of restructuring in a company or establishment. It may involve change of positions and duties among capable staff.

The example in the given scenario is that of liquidation because it ceased from operation.

3 0
4 years ago
Ability to exert muscular force repeatedly
Mnenie [13.5K]

Answer:

<h2>Dynamic strength</h2>

Explanation:

Dynamic Strength — The ability to exert muscle force repeatedly or continuously over time. This involves muscular endurance and resistance to muscle fatigue.

5 0
3 years ago
The typical number of courses to finish a major is
Lubov Fominskaja [6]
No more than 36 will be required for graduation. Those who majors require more than 16 credits may take correspondingly fewer than 20 outside the major.
7 0
3 years ago
Read 2 more answers
Julie has just retired. Her company’s retirement program has two options as to how retirement benefits can be received. Under th
evablogger [386]

Answer:

1.the present value for the following assuming that the money can be invested at 11% is $1,209,346.73

2.if she can invest money at 11%, I will recommend that she accept the first option of taking a lump sum of $150000

Explanation:

a) using the compound interest formula

A= p[1+r%]^n

P= $150000 n=20 r=11%

A= 150000[ 1+11/100]^20

A=150000[1.11]^20

A=150000 ×8.062311536

A= $1,209,346.73

2. The first option will give her $1,209,346.73 and the second option will give her ($14,000 ×20)+$60,000= $340000

Therefore the first option is better to accept because she will make more money in the first option than in the second option.

6 0
3 years ago
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