Answer:
3.each principle is approved by the SEC.
Explanation:
Generally Accepted Accounting Principles are primarily specific accounting guidelines controlled by the Financial Accounting Standards Board (FASB) for financial reporting purposes. As such the practice has become universally accepted overtime, and every accountant considers GAAPs useful to their profession. Furthermore, most companies see it as an authority in accounting reporting.
However, not all GAAPs are approved by the SEC, primarily the SEC is concerned about those principles and standards that affect companies with public traded securities while it delegates the setting of appropriate standards for private organisations to the Committee on Accounting Procedure which was then later delegated to the FASB.
Solution :
<u>Journal Entry</u>
Date Account and Explanation Debit Credit
1 Jan,2022 Accumulated depreciation-machine $ 68,000
Machine $ 68,000
30 June, Depreciation expense, $ 2700
2022 Accumulated depreciation- Forklift $ 2700
30 June, Cash $ 11,700
2022 Accumulated depreciation- Forklift, $ 18,900
Gain on sale of forklift $ 3600
Forklift $ 27000
31 Dec, Depreciation expense, $ 3800
2022 Accumulated depreciation - Truck $ 3800
31 Dec, Accumulated depreciation - Truck, $ 22800
2022
Loss on disposal of truck $ 10600
Truck $ 33400
The primary responsibility of oversight bodies (such as an IRB or IACUC) is to assess legal-regulatory compliance, and if applicable, to protect research subjects.
Responsibility can also be used to describe Group responsibility. societal accountability for businesses. Duty. obligation to pay.
Being responsible entails carrying out your obligations and accepting the consequences of your decisions. A duty is something you are required to do. Being responsible means carrying out your obligations. Taking ownership of your actions means accepting both the credit and the blame for what you have done.
Three Categories of Responsibilities Every Business Owner Must Fulfil
- environmental obligations.
Responsibility is crucial because it gives people a feeling of purpose and helps society develop resilience in the face of hardship. Like an addiction, avoiding responsibilities may feel wonderful in the short run, but it results in misery and suffering that is tenfold worse in the long run.
To learn more about Responsibility visit here:
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<span>What is the subject of federal open market committee decisions? Level of interest rates and growth of the money supply. The federal open market committee makes decisions that they think will growth the supply of money within our economy and keep interest rates at an affordable level. This committee is part of the Federal Reserve Board that meets often to set the monetary policy and interest rates charged to banks. </span>
Answer:
e. 32 seconds.
Explanation:
The computation of the standard time is shown below:
= (Normal time) ÷ (1 - allowance of percent of job time)
where,
Normal time = 20 seconds × 1.2 = 24 seconds
The 1.20 is come from 1 + 20%
And, the allowance of percent of job time is 25%
So, the standard time is
= (24 seconds) ÷ (1 - 0.25)
= (24 seconds) ÷ (0.75)
= 32 seconds