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givi [52]
4 years ago
11

The rule that requires financial statements to reflect the assumption that the business will continue operating instead of being

closed or sold, unless evidence shows that it will not continue, is the: A. Cost Principle. B. Going-concern assumption. C. Objectivity principle. D. Monetary unit assumption. E. Business entity assumption.
Business
1 answer:
Elan Coil [88]4 years ago
7 0

Answer:

B. Going-concern assumption.

Explanation:

The financial statements are normally prepared on the assumption that an entity is a going concern and will continue in operation for a foreseeable future. Hence, It is assumed that the entity has neither the intention nor the need to liquidate or curtail materially the scale of its operations. If such an intention or need exists, the financial statements have to be prepared on different a basis and , if so , the basis used is disclosed.

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Answer:

salespeople

Explanation:

In the context, Tara wishes to buy new shoes for her work. She went to shoe shop and try out different shoes. The salesperson is helping her a lot in finding out her new pair of shoes and is also showing Tara some of the latest designs that are available in the shop.

The salesperson is polite and helpful to her. Tara found out that the salesperson also belonged to the same university where Tara studied. And she ended up in buying three pair of shoes instead of one. This shows the effect of the salesperson on the consumer behavior of Tara.

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3 years ago
Which fixed expense would be most difficult to change if money is needed for car payments?
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Where you live: rent/ mortgage.
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The Ralston Company manufactures a special line of graphic tubing items. The company estimates it will sell 81,000 units of this
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Answer:

c. $453,500

Explanation:

The computation of materials requirements (in feet) is shown below:-

Estimated sales                      $81,000

Add Ending inventory            $16,000

Less Opening inventory        $26,000

Units for production budget  $71,000

Production units                      $426,000

($71,000 × 6)

Add Ending reserve                 $106,500

($426,000 ÷ 12 × 3)

Less Beginning reserve of

feet                                              $79,000

Materials requirements           $453,500

Therefore the materials requirements (in feet) for 2016 is $453,500

7 0
3 years ago
Flaxco purchases inventory from overseas and incurs the following costs: the cost of the merchandise is $50,000, credit terms ar
erastovalidia [21]

Answer:

$52,000

Explanation:

The computation of the cost of inventory is shown below:

= Cost of merchandise + freight charges + insurance during transit + import duties - discount

= $50,000 + $1,500 + $500 + $1,000 - $1,000

= $52,000

The discount is computed below:

= Cost of merchandise × given percentage

= $50,000 × 2%

= $1,000

The advertising and the sales commission should not be considered. Hence, ignored it

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