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3 years ago

Significant accounting policies may not be:

Business

1 answer:

miskamm [114]3 years ago

7 0

Answer: A) omitted from financial-statement disclosure

Explanation: significant accounting policies may not be omitted from financial statement disclosure because it allows, among many other benefits, for financial statements to be compared with other entities when they are clearly shown. It also helps prevents losses and the misuse of assets. It allows both present and potential investors to be able to study open accounting policies in order to make informed decisions and/or before investing in a business.

An “accounting disclosure” is a statement that outlines the financial policies of a firm, showing expenses and profits over a time period.

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Diane's Designs purchased a one-year liability insurance policy on March 1 of a year for $8,400 and recorded it as a prepaid exp

Liula [17]

Answer:

$700 (not given in the options)

Explanation:

When the policy is purchased with a payment made in advance, the entries recorded are

Debit prepaid insurance $8,400

Credit Cash account $8,400

After the first month, the expense incurred is

= 1/12 × $8,400

= $700

Entries then required

Debit Insurance expense $700

Credit Prepaid Insurance $700

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3 years ago

Should a speaker minimize his or her use of nonverbal communication?

Katyanochek1 [597]

no they should not 100% correct

8 0

3 years ago

Read 2 more answers

A business may decide to pay employee salaries every week, every two weeks, twice a month, or once a month.

shtirl [24]

Answer:

True.

Explanation:

A business can choose to pay their employees a salary of 1. Weekly 2. Bi-weekly 3. Bi-monthly 4. Monthly. The longer the time for each paycheck, means that you will get payed more each paycheck but less frequently.

5 0

3 years ago

Every year managers are given targets for categorizing their employees’ performance at the end of the year. The managers are all

Alla [95]

Answer:

forced distribution

Explanation:

Forced distribution method is the oldest method used in various industries to evaluate the performance of any class of employees based on some standard norms as set by the company under this method.

It basically distributes each class of employee into category of management, lower, middle or upper.

This is forced because there is no change in such evaluation method, despite even the change in the company's working style is there.

But in the given instance the company has followed this forced distribution.

8 0

3 years ago

The Wet Corp. has an investment project that will reduce expenses by $25,000 per year for 3 years. The project's cost is $20,000

Jlenok [28]

Answer:

c. $20,416.50

Explanation:

Cost of assets = 20,000

Depreciation year 1 = 33% * 20,000 = $6,666

Annual cost saving = 25,000

Tax rate = 25%

Operating cash flow Year 1 = Cost saving*(1 - tax) + Tax*Depreciation

Operating cash flow Year 1 = 25,000*(1-0.25) + 0.25*6,666

Operating cash flow Year 1 = 25,000*0.75 + 0.25*6,666

Operating cash flow Year 1 = 18750 + 1666.5

Operating cash flow Year 1 = $20,416.5

So, the cash-flow from the project in year 1 is $20,416.50

8 0

2 years ago