Answer:
True
Explanation:
The reason is that hard copies are mostly authentic and are attested from the third party which increases the weight of the information. The registeration of cars and other expensive items are registered with their relevant authorities and those authorities issue paper of ownership to the owners which carry more weight.
The multiple-step income statement clearly presents the value of total expenses is a major advantage of the multiple-step income statement over the single-step income statement. The correct option is A.
<h3>What is the advantage of using the multiple-step income statement?</h3>
The main advantage of using a multi-step income statement is that it separates operating and non-operating income. This reduces financial clutter and emphasizes the most important aspect of a company's finances—the operational portion.
Multiple-step income statements' siloed breakdowns enable deeper margin analysis and more accurate representations of costs of goods sold. Such specificity provides stakeholders with a clearer picture of how a company operates by comparing gross, operating, and net margins.
Thus, the ideal selection is option A.
Learn more about the multiple-step income statement here:
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A budget surplus is what is left over or not spent from the previous budget; this leaves the government with extra money left from last fiscal years budget. In turn, it will subtract from the National debt, leaving us with less debt and showing that our money is being managed correctly.
I hope this helps!
Answer:
b. inventory for $1516.
Explanation:
Term 2/10, n/30 means there is a discount of 2% is available on payment of due amount within discount period of 10 days after sale and net credit period of 30 days.
Purchase value = $83,000
Purchases return = $7,200
Amount Due = $83,000 - $7,200 = $75,800
As the $75,800 is paid within discount period, so discount will be given to customer
Discount = $75,800 x 2% = $1,516
Payment Made = $75,800 - $1,516 = $74,284
Gross method does not record the discount value it recognise the inventory at its gross amount and discount is adjusted in the inventory account after that.
Answer:
14,619.88
Explanation:
The investment today amount shall be calculated using the following formula:
F=P(1+i/n)^nt
F= total future amount which include interest+principal=$25,000
P=Amount that should be invested today
i=interest rate per year=2.15%
n=number of months in a year=12
t=time involved in investment in years=25
F=P(1+i/n)^nt
25,000=P(1+2.15%/12)^12*25
25,000=P(1.71)
P=14,619.88
