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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

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Bob sells tires. He knows that his weekly sales drop if he increases the unit price p (in dollars). The weekly sales are given b

spin [16.1K]

Answer:

Increase in weakly revenue = $9.8

Explanation:

Price (P) = 100, Demand or Sales N (P) = 120.

So revenue R(P) = P x N(P) = 120 x 100 = 120000

Given : 2 sales per week lost for 10 units increase in price.

New price (P') = 110 , New Demand or sales N' (P) = 118

So new revenue R' (P) = P' x N' P = 110 x 118 = 12980

Change in Total revenue due to 10 units price rise = 12980 - 120000 = 980

So, change in total revenue due to one unit price rise = 980/ 10 = 9.8

8 0

3 years ago

Nursing is a human service .clarify it

Harman [31]

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Nursing is a human service. As in nursing we help the patients to get well. Not only for salary, they personly also try to help the patient with a lot care. Some nurses also treat the patient as their own family. Thus, nursing is a human service.

7 0

4 years ago

________ occurs when economic benefits are distributed fairly. A. Equity B. Allocative efficiency C. Equality D. Productive eff

dlinn [17]

Answer: (A) Equity

Explanation:

The equity is the term which refers to the concept of fairness in the economics concept as they providing the various types of economic benefits regarding the taxation and also the welfare of the economics.

The equity is basically relating to the fairness in terms of opportunity, various types of services and income and that are distributed between the various types of groups in the society.

In an organization, the equity is one of the type of investor that share all the investing shares of the company and then it distributed fairy.

Therefore, Option (A) is correct answer.

3 0

3 years ago

When comparing a 10-year bond versus a 1-year bond, the 10-year bond has a much greater interest rate risk. True or false?.

ValentinkaMS [17]

True,When comparing a 10-year bond versus a 1-year bond, the 10-year bond has a much greater interest rate risk

A bond is a sort of financial security in which the issuer owes the bearer a debt and is obligated to repay the principle of the bond as well as interest over a specified period of time, depending on the terms. Interest is normally paid at regular intervals.

Bonds are one way for businesses to raise funds. A bond is a loan made between an investor and a firm. The investor agrees to contribute the corporation a particular sum of money for a set length of time. In exchange, the investor receives interest payments on a regular basis.

To know more about bond follow the link:

brainly.com/question/25965295

#SPJ4

5 0

2 years ago

Economic profit is smaller than accounting profit because:

viva [34]

Answer:

A) accounting profit does not account for explicit and implicit costs.

Explanation:

As accountant and economist view profits differently as they view costs differently and thus are useful in making the business decisions and the only difference that occurs is in terms of opportunity cost.

As the economic profits are smaller and hs explicit ad implicit costs, as compared to the accounting profit.

Gross Profit - (Operating Expenses + Taxes) = Accounting Profit.

3 0

4 years ago