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Alexxx [7]
3 years ago
9

Four different competent accountants independently agree on the amount and method of reporting an economic event. The concept de

monstrated is:
Business
1 answer:
Savatey [412]3 years ago
7 0

Answer:

The correct answer is: Verifiability.

Explanation:

Verifiability implies that the accounting information displayed in the financial statements must be verified by more than one accountant. The concept also implies the information provided in the records are reliable enough so that different professionals can eventually come to the same conclusions using similar accounting methods.

You might be interested in
At October 1, Arcade Fire Enterprises reported stockholders' equity of $36,000. During October, no stock was issued and the comp
vivado [14]

Answer:

A. $8,000

Explanation:

Stockholders Equity Includes the Add-in-capital par value, Add-in-capital excess value of Common and Preferred, Net income accumulated value and dividends.

Ending Stockholders Equity = Beginning Stockholders Equity + Income for the period - Dividend paid During the period

$32,000 = $36,000 + $4,000 - Dividend paid During the period

$32,000 = $40,000 - Dividend paid During the period

Dividend paid During the period = $40,000 - $32,000

Dividend paid During the period = $8,000

3 0
4 years ago
An electronic store sells 3,000 HD TV sets every quarter of the year. Each TV set costs the store $ 270.00. The carrying cost is
Wittaler [7]

Answer:

Check the explanation

Explanation:

The Economic Order Quantity (EOQ) is the amount of units that a firm or an organization is expected to include to its inventory with each order to reduce minimally the overall costs of inventory—such as order costs, holding costs, and shortage costs.

Kindly check the step by step explanation in the attached images below to get the solution to the question

7 0
3 years ago
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
The amount of money available with people after buying necessities such as food, clothing, and housing is referred to as _____.
Oksi-84 [34.3K]

Answer:

B) discretionary income

Explanation:

Consumer discretionary income is defined as the income that consumers have after paying all their essential needs, e.g. food, rent or mortgage, utilities, etc.

Discretionary income is not equal to disposable income, since disposable income = gross income - taxes

Personal income = gross income, or total income before paying taxes

4 0
3 years ago
A. How does inflation distort ratio analysis comparisons for one company over time (trend analysis) and for different companies
marin [14]

Answer (a):

The inflation distorts the ratio as their are number of things that inflate their prices differently. The prices of the rice is increasing by 1%, wheat prices are growing by 2% and salaries expenses are increasing by 5%. This means there is no consistant increase in all the commodity prices. And this issue becomes very prominent after 3 years. Trend analysis becomes meaningless when we make technological advancements which gives us edge to control the costs of the operations and inflation does the same thing but in opposite direction. It increases the cost of different operations with different percentages.

Answer (b):

Both balance sheet and income statement items would be affected because these are monetary values that would be inflated over time which will blurr the image of the entity.

8 0
4 years ago
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