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Reptile [31]
3 years ago
7

The income statement shows amounts for: A. revenues, expenses, gains, and fair value per share. B. revenues, assets, gains, and

losses. C. revenues, gains, expenses and losses. D. revenues, expenses, losses, and liabilities.
Business
1 answer:
zvonat [6]3 years ago
6 0

Answer:

C. revenues, gains, expenses and losses.

Explanation:

Income statement only reports the Income, Expenses, Gain or losses for the period. Assets, Equities and Liabilities are reported in balance sheet. Income statement only deals with temporary accounts and permanent accounts are dealt in balance sheet, So Revenue, Expenses, gains and losses are temporary account whereas the assets, Equity and liabilities are permanent accounts..

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Sally is planning to sell her company and she prefers to obtain immediate liquidity, and the value of consideration to be fixed.
ella [17]

Answer: A cash sale

                                           

Explanation: In simple words, liquidity refers to the ability of an organisation to bear its short term expenses. For that a company must have cash or some assets that can be readily converted into cash in case of need.

Hence Sally should sell her company in cash sale as it will result in inflow of cash which will create liquidity and also the consideration will be certain with short timely payments.

Other option such as IPO or  stock for stock might result in increase in value but certainly won't give her liquidity.  

6 0
2 years ago
In 1990, Johnson Company purchased a building for $170,000. In 2020, a real estate professional says the building has a fair val
Julli [10]

Answer:

$170,000.00

Explanation:

The amount of $170,000.00 will still be recorded as the value of the building, before considering accumulated depreciation.

<em>Fair value</em> of $1,000,000.00 or <em>selling price</em> of $900,000.00 does not affect the original value of the building in the company's balance sheet.

4 0
3 years ago
Which of the following sentences use apostrophes correctly? 1. We used to back up our account files weekly and save them onto CD
cupoosta [38]

Answer:

2. The financial planner’s e-mail address was listed on his website.

4. Making certain that all the timecards were submitted on time was Lorice’s responsibility.

Explanation:

The apostrophe (') is a punctuation mark used in English language to form possessive nouns, mark the omission of one or more letters and to indicate the plurals of letters in lowercases.

For example, forming a possessive noun; add an Apostrophe (') with the letter "s" i.e ('s) to nouns that don't end with "s" sound. Also, you can add only an Apostrophe (') without the letter "s" to nouns that ends with "s" sound.

For instance, the financial planner’s e-mail address was listed on his website, the writer's pen, the cat's eyeballs etc.

To indicate the omission of a letter (contraction), such as isn't, don't they're, I've, you're, doesn't, you've, they'd etc.

7 0
3 years ago
Make sure that your changes do not ___ your clients.
WARRIOR [948]
Affect your clients.
5 0
3 years ago
Because the auditors of XYX Company accepted a client firm’s questionable financial statements when the infractions have occurre
OverLord2011 [107]

Answer: setting ill-conceived goals

Explanation:

3 0
2 years ago
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