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Illusion [34]
3 years ago
14

The concept of materiality:

Business
2 answers:
KonstantinChe [14]3 years ago
6 0

Answer:

The answer is b Justifies ignoring the matching principle in certain circumstances.

Explanation:

Doss [256]3 years ago
5 0

Answer:

The correct answer is letter "B": Justifies ignoring the matching principle in certain circumstances.

Explanation:

In Accounting, the materiality principle is in charge of the relevance of information and the size of the information recorded in the companies' books.   According to this concept, there are some Generally Accepted Accounting Principles (GAAP) that can be omitted as long as the information transferred to the Financial Statements are not affected.

It is the responsibility of the accountant to determine what should and should not be included on the firm's general ledger, then. <em>GAAP such as matching can be omitted thanks to the materiality principle</em>.

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Korolek [52]

Hollow corporations are b. companies that outsource all production to suppliers

<h3>What are hollow corporations?</h3>

Hollow corporations can be defined as those companies that outsource their production to supplier, which means that they do not produce within the company but all production are carried out  supplier .

Hence, the correct option is B, because hollow corporation tend to outsource all production to supplier.

Learn more about Hollow corporations here:brainly.com/question/27415560

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2 years ago
Using the interest method, the journal entry to record the first interest payment and the related amortization for bonds issued
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A. Debit; Premium on Bonds Payable
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5 0
3 years ago
1. What is the difference between fixed, variable, and periodic costs?
lisov135 [29]

Answer:

The difference is in how they response to the level of production of the firm.

Variable cost are directly associated with the production level, therefore changes with the number of units produced.

Fixed costs do not change with the level of production and remains fixed. Usually, fixed cost changes with the time.

Periodic Costs are the costs that cannot be capitalised and are incurred for a period of time. Such as administrative costs.

Explanation:

4 0
3 years ago
Bill is a yacht broker in the southeastern United States. For years he has had difficulty selling large yachts locally because t
Artyom0805 [142]

Answer:

.D.complementary products

Explanation:

A complementary good is a product whose usage is dependent on the availability of another. Complementary goods are, therefore, goods that are used together.  For example, A and B will be complimentary goods if the use of A will require the use of B.

Yachts and docks are complementary products because a yacht will require a dock as the base of its operation.  Without a dock, yacht operations will be almost impossible. Bill is not making good sales on big yachts because potential customers cannot find sufficient docking space. Other examples of complementary goods are car and petrol,  printers and ink cartridges, guns and bullets, and DVD players and DVD disks.

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3 years ago
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