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tiny-mole [99]
3 years ago
10

Each of the following statements is justified by a fundamental quality or an enhancing of quality accounting. Match the letter n

ext to each statement corresponding to the quality involved.
A. Comparability D. Consistency
B. Understandability E. Relevance
C. Verifiable F. Faithful representation
1. A company uses the same accounting principles from year to year.
2. Information that is free from error.
3. Information presented in a clear and concise fashion.
4. Information that makes a difference in a decision.
5. Information accurately depicts what really happened.
Business
1 answer:
PilotLPTM [1.2K]3 years ago
3 0

Answer:

Explanation:

1. A company uses the same accounting principles from year to year.(CONSISTENCY)

2. Information that is free from error.(VERIFIABLE)

3. Information presented in a clear and concise fashion.(UNDERSTANDABILITY)

4. Information that makes a difference in a decision.(RELEVANCE)

5. Information accurately depicts what really happened.(FAITHFUL REPRESENTATION)

To have a standard financial statement in accounting , there's are some qualities that are needed to put into consideration such as fundamental qualities as well as Enhancing quality of accounting. fundamental qualities are needed to obtain relevancy and reliability in preparing accounting statement.Enhancing quality of accounting are also to have

Comparability,Consistency, Understandability, Relevance, Verifiable

as well as Faithful representation

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What is your interpretation of the relationship between auto insurance premiums in Michigan and the national average?
Arada [10]

Answer:

Interpretation between the auto insurance preniums in Michigan and the National average is that In 2017, the average cost of a personal injury protection claim in Michigan was more than six times the national average. Costs are increasing nearly twice as fast, according to the Insurance Research Council.

Explanation:

The rates of auto insurance Premiums in Michigan are most expensive in America. This is due to Michigan's non-fault insurance system, which provides crash victims unlimited lifetime coverage of medical bills.

3 0
3 years ago
A local art gallery keeps information on its customers regarding their preferences for certain artists as well as the style of a
arlik [135]

Answer:

The correct answer is letter "B": Customer relationship management.

Explanation:

Customer Relationship Management or CRM is a term of the Information Technology (IT) industry that applies to methodologies, software, and in general, to the capabilities of the internet that help companies to manage customer relationships in an organized manner by storing some of their information useful for future business.

6 0
2 years ago
What do you call the surface of a fabric created by plucking yarns from it with little needles on rotating drums?
SSSSS [86.1K]

Answer:

Answer is Nap.

Explanation:

The surface of the fabric that is used to pluck yarn from fabric is called nap. The process is called napping, in which the fibres are teased and then the soft fur-like surface is created. This process is mostly used yarning of blankets and woollen fabrics.

4 0
3 years ago
5 points eBookPrintItem 3 At the end of last year, the company's assets totaled $870,000 and its liabilities totaled $745,000. D
pishuonlain [190]

Answer:

$159,500

Explanation:

The computation of the ending stockholder equity at the current year is given below:

As we know that

Total assets = Total liabilities + stockholder equity

Now both are increased by some amount, so the ending stockholder equity at the current year is

= ($870,000 + $59,000) - ($745,000 + $24,500)

= ($929,000) - ($769,500)

= $159,500

3 0
3 years ago
Othello S. Corporation produces and sells a single product. The information about their operation for the last month is given be
Allushta [10]

Answer:

400 units

Explanation:

price per unit $40

variable costs per unit $20

fixed expenses $8,000

operating leverage = fixed costs / total costs

  • operating leverage = 2
  • fixed costs = $8,000
  • total costs = ($8,000 + total variable costs)

2 = $8,000 / ($8,000 + total variable costs)

2($8,000 + total variable costs) = $8,000

$4,000 + 0.5(total variable costs) = $8,000

0.5(total variable costs) = $4,000

total variable costs = $4,000/0.5 = $8,000

total variable costs = total output x variable cost per unit

$8,000 = total output x $20

total output = $8,000 / $20 = 400 units

6 0
3 years ago
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