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givi [52]
3 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]3 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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What is the role of the Federal Reserve in the U.S. economy?
lys-0071 [83]

Answer: The correct answer:

A. Managing monetary policy.

5 0
2 years ago
What are three common types of federal taxes?
anastassius [24]

three common types of federal taxes are :

1. income tax

2. Property tax

3.Sales tax

5 0
3 years ago
The standard factory overhead rate is $7.50 per machine hour ($6.20 for variable factory overhead and $1.30 for fixed factory ov
lesantik [10]

Answer:

$26,000 adverse variance

Explanation:

Fixed Overheads Volume Variance = Budgeted Overheads at Actual Output - Budgeted Fixed Overheads

                                                             = $1.30 x 60,000 hours - $1.30 x 80,000

                                                             = $78,000 - $104,000

                                                             = $26,000 adverse variance

The fixed factory overhead volume variance is $26,000 adverse variance

7 0
3 years ago
Colin told the management team that their Ohio-based company should produce the textiles for the new line of jackets in China be
ELEN [110]

Answer:

Free trade.

Explanation:

This theoretical policy can be explained to be certain laws under which the government is seen to impose absolutely no tariffs, taxes, or duties on imports, or quotas on exports. Therefore, it is directly seen to be the opposite of protectionism, a defensive trade policy intended to eliminate the possibility of foreign competition. It is seen in terms of unrestricted measures in importation and also exportation of goods in and out of a country.

In the world of our own, which is of the recent times, this policy implementation is done by means of a formal and mutual agreement of the nations which are seen to be involved. Also this policy in some cases may simply be the absence of any trade restrictions.

7 0
3 years ago
In order to alleviate the effects of bias in employment testing, employers might want to use ________ because they typically do
damaskus [11]

Answer: a. tests of conscientiousness

Explanation:

Test that measure conscientiousness essentially check to see if the prospective employee is capable of doing the tasks required of them well and with seriousness. The test will also show if the person is capable of showing the required diligence and care in their roles.

Such tests are free of bias in testing as conscientiousness can be measured evenly across cultures.

6 0
2 years ago
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