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Anna71 [15]
3 years ago
13

Define accounting?Explain the accounting concepts which guide the accountant at the recording stage?

Business
1 answer:
ArbitrLikvidat [17]3 years ago
6 0
The term accounting refers to the recording of a lot of financial transactions. Information are to be stored, sorted, retrieved, summarized, presented, in the forms of reports. Nowadays, recording in the process of accounting is made easy due to the existence of technology.
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Cost $7.20 $11.00 $11.75 $6.30 $7.65 Net realizable value 8.95 10.20 13.35 5.50 6.80 Net realizable value less normal profit 8.3
Dmitrij [34]

Answer:

I used an excel spreadsheet to calculate each unit's ending inventory price:

Product 1 = $7,20

Product 2 = $10,20

Product 3 = $11,75

Product 4 = $5,25

Product 5 = $5,60

Download pdf
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3 years ago
Colby lives a very career-driven lifestyle. He works long hours and enjoys making a lot of money by working overtime. After he a
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Walmart initially used a focused cost leadership strategy to compete only in small communities by using sophisticated logistics
disa [49]

The response of local competitors was slow because they lacked the ability to marshal resources.

<u>Explanation:</u>

The focused cost leadership is a tactic in which businesses selling identical goods in a given market reduce their prices to raise sales and gain a competitive edge.  Rather than sacrificing on value or already investing scarce resources to develop a commodity, reducing prices is a safer way to draw consumers. Walmart used such strategy to establish an edge in smaller communities but local competitors response was time taking as the resources were available but coordination among resources to result into proper manufacturing or servicing was lacking.

4 0
3 years ago
Both nondeductible contributions to a traditional IRA and contributions to a Roth IRA are similar in the sense that neither prov
Nastasia [14]

Answer:

The answer to this question can be defined as follows:

Explanation:

In part A

When Most citizens can't deductible in tax and their daily IRA donation, when the revenue is higher then all thresholds refer to specific levels. So, It can also pay to save for a non-deductible IRA to your withdrawal. Even if your IRA is not exempt.  

Regulations on IRA Revenue:

When a company provides individuals or their spouse has been decided to hire by users have a 401(k) or 403(b) employee withdrawal account, experience some IRA depreciation contribution limits donations.  

For an alternative to Roth IRA:  

Most individuals have incomes above limits and the  Roth IRA may indeed meet the criteria for a frequent IRA tax benefit and the higher level donation.

In part B

I will also take a glance at the answer from a tax viewpoint if a competent payment decreases subject to tax salaries and further decreases taxable income. It is a great way for both management and workers and employers receive big profits without taxation. Its value of a qualified retirement benefit provided for both the worker increases the amount that can be spent on behalf of the company by providing an eligible program.

4 0
3 years ago
Suppose you transfer $1,000 from your checking account to your savings account. How does this action affect the M1 and M2 money
spayn [35]

Answer:

D) M1 falls by $1,000, and M2 is unchanged.

Explanation:

since checking account comes under M1, a transfer would result in fail, Therefore, a transfer would result in a change in M1 but shows no effect on M2

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