Answer:
c. Providing special-purpose information and reports
Explanation:
Managerial or management accounting unlike financial accounting which focuses on historical data involves the review of management's forecast or budget with the actual results obtained.
It is used by management for internal decision making unlike financial accounting which follows a defined framework that is useful for both internal and external users of the financials.
Hence, Managerial accounting is primarily focused on Providing special-purpose information and reports.
Answer:
Net Sales for the month ended is equal to $9,702.
Explanation:
Sale = 100 x $100 = $10,000
Discount = $10,000 x 1% = $100
Sales Return = $198
Net Sales = Sales Price - Sales Discount - Sales Return
Net Sales = $10,000 - $100 - $198
Net Sales = $9,702
Net Sales for the month ended is equal to $9,702.
$20 is an expense and it is not an contra revenue account. So, it is not considered in net sales calculation.
Answer:
A. True
Explanation:
The two most common settings for legitimate non-competition agreements are the sale of a business and an employment relationship. When a non-compete agreement is ancillary to the sale of a business, it is enforceable if reasonable in time, geographic area, and scope of activity.
Answer:
When shares are repurchased, they are recorded at the cost price in the books which means that they will be recorded at:
= 100 * 40
= $4,000
Cash will then be credited because assets are credited when they reduce.
Treasury stock will be debited to show that Equity is reducing.
Date Account Title Debit Credit
June, 30 Treasury Stock $4,000
Cash $4,000
