4 years ago

Who is responsible for the preparation and integrity of the financial statements?

1 answer:

8 0

The management of a company is responsible for the preparation and integrity of financial statements. These then get based on to accountants for tax purposes. Just as we keep records and "manage" our personal accounts for financial purposes, management does this for their corporation.

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Review your pre and post scores from "Where Are You Now." Did your scores improve? What activities did you complete that facilit

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Answer:

what do you mean did our scores improve, if so, idk yet

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3 years ago

Aggregate supply definitions The short-run aggregate supply curve shows How firms respond to changes in interest rates Changes i

scoundrel [369]

Answer:The real Gdp

Explanation:

Short run aggregate supply curve is upward sloping and it shows the relationship between the price level and output. it is upward sloping because the quantity supplied increases when the price rises. Real GDP or otherwise known as changes in aggregate demand and aggregate supply is assumed to remain unchanged because they are not caused by changes in the price level. Economic growth are one of the things that can cause change in real Gdp. Things that cause changes along a given short run supply curve can include the following: wages, increase in physical capital or advancement in technology.

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3 years ago

For a closed economy, gdp is $18 trillion, consumption is $13 trillion, taxes are $2 trillion and the government runs a deficit

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Answer:

$3 trillion and $2 trillion, respectively

Explanation:

Private savings in (Income - Taxes) -Consumption

National/Public Savings are (taxes - expenditures)

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3 years ago

On June 30, 20X5, Huff Corp. issued at 99, 1000 of its 8%, $1,000 bonds. The bonds were issued through an underwriter to whom Hu

Stels [109]

Answer:

$1,000,000

Explanation:

The Bond Issued less than its face value is issued on the discount. This discount is recorded and amortized until the maturity of bond.

Discount on the Bond = Face value - Issuance value = ($1,000 x 1,000) - ($1,000 x 1,000) x 99% = $1,000,000 - $990,000 = $10,000

Journal Entry

Dr. Cash $990,000

Dr. Discount on Bond $10,000

Cr. Bond Payable $1,000,000

Bond Liability on June 30, 20x5 is $1,000,000.

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3 years ago

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A lawsuit claiming liability of a manufacturer, seller, or supplier to a buyer or other third party for injuries sustained becau

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Thhis type of lawsuit is known as a "class-action"

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3 years ago