All categories

3 years ago

An emphasis is placed on proper income statement item recognition under what approach under US GAAP?

Business

1 answer:

Over [174]3 years ago

3 0

Answer:

Revenue /expense approach

Explanation:

As we know that the income statement recognized only the revenues and the expenses and if the revenue is more than the expenses so the company is earning profit else it would suffered loss

So for proper income statement, the item recognized under US GAAP should be placed in revenue and expense approach as it comes under the income statement and the same is to be considered

You might be interested in

If the general education level within a country rises significantly over time, it is likely that: the country’s production possi

kiruha [24]

Answer: Option (D) is correct.

Explanation:

Correct: The country’s production possibilities curve will shift out.

The production possibility frontier shows different combination of two goods that are to be produced with the available resources. It also shows the point on the curve which represents the efficient level of quantity to be produced.

So, if there is any improvement in the factors such as technology advancement and level of education will generally results in higher economic growth and increase in the level of output.

Hence, there is an outward shift in the production possibility frontier.

6 0

3 years ago

The power to grant or withhold budget requests of agencies may be one of ________ most potent weapon in controlling the bureaucr

skad [1K]

Answer:

_Congress's_

Explanation:

The power to grant or withhold budget requests of agencies may be one of __Congress's______ most potent weapon in controlling the bureaucracy.

It the Congress who is responsible for the the budget allocation and distribution for the agencies according to The american constitution. This how they control the bureaucracy.

6 0

2 years ago

Please help or going to jump off a really high bridge

Sedbober [7]

Answer:

join pa dlet to get the answers

Explanation:

7 0

2 years ago

Which of the following is an expense of this period? Multiple Choice Costs of items paid for in this period but used up next per

OleMash [197]

Answer: Costs of items used up this period but paid for next period

Explanation:

Period Expenses for the period are transactions that should be expensed because they were used in the current period.

Therefore if a period cost is not used in the period, it is not considered a period cost even if the company pays for it in the current period which also means that if a period cost for the period is not paid in the current period but in the next one, it is still a period cost for the current period.

From the above therefore, the period cost is the cost of items used up in this period but paid for in the next one.

The land purchased might look like the obvious choice but it is not because Assets are capitalised and not expensed.

7 0

2 years ago

The situation where the buying power of money in terms of goods and services increases is called:_____

Alla [95]

The situation where the buying power of money in terms of goods and services increases is called <u>deflation</u>

In economics, deflation is a general decline in the price level of goods and services. Deflation occurs when inflation falls below 0% (negative inflation). Inflation depreciates a currency over time, while sudden deflation increases it. As a result, more goods and services can be purchased with the same currency than before. Deflation is different from disinflation, which is a slowdown in the rate of inflation. H. Inflation is declining but still positive.

Economists generally consider sudden deflationary shocks to be a problem in the modern economy. This is because the real value of debt increases, especially if deflation occurs unexpectedly. Deflation can also exacerbate the recession and lead to a deflationary spiral.

Learn more about deflation here: brainly.com/question/13562161

#SPJ4

6 0

1 year ago