1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
hram777 [196]
3 years ago
6

According to GAAP, the disclosure of accounting policies adopted by a reporting entity is important to financial statement reade

rs in determining whether accounting policies are consistently applied from year to year. net income for the year. the value of obsolete items included in ending inventory. whether the working capital position is adequate for future operations.
Business
1 answer:
Ilia_Sergeevich [38]3 years ago
8 0

Answer:

A. whether accounting policies are consistently applied from year to year.

Explanation:

Accounting policies need to be disclosed to ensure proper understanding of financial statements, it is necessary that all significant accounting policies adopted in the preparation and presentation of financial statements must be disclosed. Any change in an accounting policy that has a significant effect should be disclosed. Also to disclose significant accounting policies; Such disclosure helps users of financial statements (e.g., investors, creditors, vendors) to understand how particular accounting principles were used in preparing the company's financial statements.

You might be interested in
50 POINTS AND BRAINLIEST
Vikentia [17]

Answer: sorry i took long

3. the time lost looking at both items

4. The cost of growing peppers, compared to the cost of growing tomatoes.

5.The net value to Kendra of going to Samuel's house to play games.

6. $150

9. The producers decide what should be produced.

10. Producers decide what should be produced.

11. property rights - producers can own or rent the building they manufacture in

12. A student learns to make web pages and starts making websites for local small businesses.

13. a personal computer or tablet used to access the internet

14. the decrease of pollution in the city

4 0
2 years ago
A microeconomist — as opposed to a macroeconomist — might study
Rudiy27
Microeconomics is the study of the effects of changes to small individual decisions  A)  Is huge, study of the whole country.  B)  Is huge, nationwide production increase C) this effects just one industry.   D) again huge, nationwide effects of interest rates on GDP.  So C.

3 0
2 years ago
Kilroy Corporation provides services to a customer for $1,000. The customer complained that there was a slight defect in the ser
nordsb [41]

Answer:

debit to Sales allowance of $50

Explanation:

When some defect in a product is revealed or notified by the buyer, the seller usually grants the customer an allowance which is termed as sales allowance.

It is usually allowed when the customer agrees to keep the product instead of returning the defective product which would constitute sales returns.

Following journal entry is recorded for recording sales allowance

Sales Allowance A/C                                     Dr. $ 50

    To Accounts Receivable                                          $50

(Being allowance for defects recorded)

Sales allowance is deducted from gross sales before the customer makes payment.

8 0
3 years ago
Another name for nondisclosure is
ladessa [460]

Answer: confidentiality agreement (CA)

5 0
2 years ago
The projected benefit obligation was $440 million at the beginning of the year. Service cost for the year was $48 million. At th
balu736 [363]

Answer:  $47 million

Explanation:

Pension expense arises as a result of the amounts owed to employees in relation to pension liabilities.

It is calculated by;

= Service Cost + Interest expense - Expected return on plan assets +  Amortization of prior service cost + Amortization of net loss

= 48 + ( 440 * 5%) - 23

= $47 million

7 0
2 years ago
Other questions:
  • helen harrison creates an instrument containing the words "pay jose sanchez" and her signature. this is a? endorsement and creat
    7·1 answer
  • Price is a concept relating to how post-deregulation transportation firms determine and impose charges for their services. which
    15·1 answer
  • Assume bonds payable are amortized using the straight-line amortization method unless stated otherwise.
    6·1 answer
  • Inventories refer to A. goods that are a result of new inventions. B. goods that have been produced but have not yet been sold.
    14·1 answer
  • Quizlet:Suppose the demand for a Czech novel translated into English is perfectly inelastic. Assume the initial price of the tra
    12·1 answer
  • Consider the following production process for manufacturing biscuits. The first step of the process is mixing where all of the i
    8·1 answer
  • Sheffield Corporation makes a mechanical stuffed alligator that sings the Martian national anthem. The following information is
    12·1 answer
  • Monkey See. Monkey Take and<br> Humans vs Chimps
    5·2 answers
  • When Unraveling the Unit Circle the sine function creates a relationship between the _________and the ________ starting at 0 rad
    7·1 answer
  • The rationing function of prices refers to the ability of the competitive forces of supply and demand to establish a price at wh
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!