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il63 [147K]
3 years ago
9

Match each of the numbered descriptions with the term or phrase it best reflects. Indicate your answer by writing theletter for

the term or phrase in the blank provided.A. AuditB. GAAPC. EthicsD. Tax accountingE. SECF. Public accountantsG. Net incomeH. IASB
Business
1 answer:
Temka [501]3 years ago
6 0

Please the remaining part of the question below :

1.Amount a business earns after paying all expenses and costs associated with its sales and revenues.

2.An examination of an organization’s accounting system and records that adds credibility to financial statements.

3.Principles that determine whether an action is right or wrong.

4.Accounting professionals who provide services to many clients.

5.An accounting area that includes planning future transactions to minimize taxes paid.

Answer:

1.Amount a business earns after paying all expenses and costs associated with its sales and revenues. - Net income (G)

2.An examination of an organization’s accounting system and records that adds credibility to financial statements. - Audit (A)

3.Principles that determine whether an action is right or wrong. - Ethics (C)

4.Accounting professionals who provide services to many clients.- Public accountants (F)

5.An accounting area that includes planning future transactions to minimize taxes paid- Tax accounting (D)

Explanation:

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Peter wishes to create a retirement fund from which he can draw when he retires and the same amount at each anniversary of his r
uranmaximum [27]

Answer:

$65,742.60

Explanation:

Note: The full question is <em>"Peter wishes to create a retirement fund from which he can draw $20,000 when he retires and the same amount at each anniversary of his retirement for 10 years. He plans to retire 20 years from now. What investment need he make today if he can get a return of 5% per year, com- pounded annually?"</em>

At first, we need to find the PV of withdrawals and there are 11 withdrawals starting 20 years from now.  

PV = PMT/r * 1 - 1/(1+r)^n. This formula gives the PV one period before the first withdrawal. That is 19 years from now because the first withdrawal is 20 years from now.

PMT = 20,000, n = 11,  

r = 0.05

PV19 = 20,000/0.05 * [1 - 1/(1+0.05)^11]

PV19 = 400,000 * 0.4153207109

PV19 = 166,128.28436

Now, we need to discount this back to toda

PV0 = PV19/(1 + r)^n; n = 19, r = 0.05

PV0 = 166,128.28436/(1 + 0.05)^1

PV0 = $65,742.6033421702

PV0 = $65,742.60

So, Peter needs to make $65,742.60 today.

3 0
2 years ago
____ teams have specific assignments, such as research, and members usually must contribute expert knowledge and judgment
frozen [14]
Project and development teams
4 0
3 years ago
How would I put the reason I left my job simply and professionally if this was the reason: I left my job due to my drivers ed sc
Alenkinab [10]
I think that you could say it mostly like that by make your words more descriptive, I don’t really know what your going for tho
5 0
3 years ago
The following inventory valuation errors have been discovered for Knox Corporation:
Whitepunk [10]

Answer:

Income +/- inventory adjustment

2015:   138,000 - 23,000 = 115,000

2016:  254,000 + 61,000 = 315,000

2017:   168,000 + 17,000 = 185,000

Explanation:

<u>Inventory Identity:</u>

Beginning + Purchases = Ending + COGS

As the mistake is on the right side it compensates by the other component which is COGS

<u><em>When the inventory is overstated</em></u> this means COGS is understated.

We didn't record the cost of good sold thefore our gross profit is higher making the net income higher.

<u><em>When the inventory is understated</em></u> this means COGS is overstated.

We record more cost of goods sold thefore our gross profit is lower making the net income fewer as well.

7 0
3 years ago
News analysts are allowed to give a option<br>A.True<br>B.False​
almond37 [142]
The answer is False (B)
8 0
3 years ago
Read 2 more answers
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