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
yuradex [85]
3 years ago
6

Accounting practice in the United States follows the generally accepted accounting principles (GAAP) developed by the Financial

Accounting Standards Board (FASB), which is a nongovernmental, professional standards body that monitors accounting practices and evaluates controversial issues. The Securities and Exchange Commission (SEC) requires all publicly traded companies to periodically report their financial information.
A publicly held corporation must publish an annual report that contains the balance sheet, income statement, statement of cash flows, statement of retained earnings, and other financial information for analysis.

The following descriptions of the major financial statements and reports that a firm publishes. Identify the correct statement or report for each description.

Description :

a. Is required by the SEC and includes the audited document that shows the company's financial results for the past year and management's discussion about the future outlook and plans
b. Gives details about the firm's sales, costs, and profits for the past accounting period
c. Details changes in the capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earings.
d. Provides details about the flow of funds from operating, investing, and financing activities.
e. Summarizes a company's assets, liabilities, and stockholders' equity at a specific point in time.
Business
1 answer:
sveticcg [70]3 years ago
4 0

Answer: a. Annual Report

b. Income statement

c. Statement of Shareholder Equity.

d. Cashflow Statement

e. Balance Sheet.

Explanation:

The Annual Report is a comprehensive report that aims to show stakeholders including the SEC what the company has been up to in the previous year. It analyzes the business's financial report and also the strategic goals of the business as well.

The Income Statement lets stakeholders know how the company's business transactions went for the previous period. It shows how much goods and services were sold as well as the expenses involved.

The Statement of Shareholder Equity aims to show how the business's dealings during the year have impacted the ownership of the company. It shows the Capital and the Retained Earnings.

The Cashflow Statement aims to show just how much actual cash that the business has. To do so it usually divides the cash transactions into Operating, Investing, and Financing activities.

The Balance Sheet summarizes the components of the Accounting Equation which includes Assets, Liabilities and Equity. This way a person can see at a glance how the business operates.

You might be interested in
Tropic beach balls, inc. is considering several investment options. if the company wants to maximize investment income, when is
poizon [28]
The best time to invest would be <span>c : when sales are consistent.
When sales are consistent, companies do not have to worry about unpredicted occurrences that could threaten their finance because they could always cover it in the next inflow. During this time, company could start making their investment as long as the investment is highly liquid.</span>
5 0
3 years ago
Private solutions to correct for externalities consider the following scenario:________.
Charra [1.4K]

Answer: Charities; coordinating negotiations among all of the parties too costly

Explanation:

From the question, we are told that that a chicken farm uses a nearby stream to dispose of the wastes that is released by its chickens and that the wastes flow downstream into a lake that has become polluted due to the waste matter. The local office of a nonprofit environmental organization then collects enough donations in order to stop the farm's pollution.

The type types of private solutions to the pollution externality which has occured is charity. This is because it is a voluntary activity. The money collected is meant for a specific objective which is to tackle the issue of pollution.

It is also vital to note that sometimes the private solutions to externalities might not work. For example, this occurs when communications barriers or social customs are important enough relative to the potential gains involved that coordinating negotiations among all of the parties too costly.

6 0
3 years ago
Ortega Industries manufactures 19,900 components per year. The manufacturing cost of the components was determined to be as foll
professor190 [17]

Answer: Increased profit as opposed to making them internally.

Explanation:

Make or buy decisions are management decisions as to whether production components should be produced internally or outsourced.

Buy decision

Unit price= $34

Total unites= 19900

Total cost= $34*19900=$676,600

Make decision

$

Direct materials 178,000

Direct Labor. 380,000

Variable overhead. 104,000

Relevant fixed overhead 260,000

Total $922,000

Unit price for make=922000/19900

Unit price=$46.33

Since buying outside is more cheaper than producing internally, it will be more profitable to outsource(buy).

6 0
3 years ago
phyllis, who is single, has itemized deductions totaling $20,000. she overpaid her 2018 state income tax and is entitled to a re
Lapatulllka [165]

It is true that if an overpayment resulted in a tax benefit, it makes no difference whether it is reimbursed or used to reduce the 2019 state federal income tax due.

The Internal Revenue Service (IRS) imposes a levy known as the federal income tax on the yearly income of people, businesses, trusts, and other legal entities. All forms of income that constitute a taxpayer's taxable income are subject to federal income taxes, including wages, salaries, commissions, bonuses, tips, investment income, and certain categories of unearned income.

Individual federal income tax rates in the US are progressive, which means that they rise in proportion to taxable income. Federal income tax rates range from 10% to 37%, and they become effective at a certain level of income. Tax brackets are the ranges of income that the rates apply to. Income that is subject to each bracket is taxed at that rate.

Learn more about Federal income tax  here

brainly.com/question/2986643

#SPJ4

3 0
1 year ago
A treaty that can be signed between two or more countries to lower tariffs and improve the import and export of goods is a free
klio [65]

When a treaty is signed between nations to lower tariffs and improve imports, this is a free trade agreement. This is <u>True</u>.

<h3>What is a free trade agreement?</h3><h3 />

Sometimes nations get together and discuss a treaty that will allow for trade to be easier between them.

To this end they will reduce tariffs, and other barriers to trade. This is to encourage free trade between the nations. This treaty is a free trade treaty.

Find out more on barriers to trade at brainly.com/question/1326741.

3 0
2 years ago
Other questions:
  • Michelle always drives down hampton avenue to go to the work. one morning michelle discovers that hampton avenue is closed at wo
    10·1 answer
  • I have a signed contract with one company this company sold my contract to another company that did the work and it wasn't done
    13·1 answer
  • Why is a high-quality bond typically considered a lower risk investment than a stock?
    10·1 answer
  • The articles of incorporation are submitted by the incorporators to the ____ for approval a. Irs . B. Office of the Secretary of
    10·1 answer
  • Assume that you have just purchased some shares in an investment company reporting $500 million in assets, $50 million in liabil
    15·1 answer
  • Choose the correct statement.
    15·1 answer
  • What is the longest period of time that a forbearance may be placed on your account at one time?
    7·1 answer
  • the vikings company, based in minnesota, is committed to training new employees. assuming the company uses the incremental learn
    14·1 answer
  • Assignment:
    11·1 answer
  • Which is considered to be a coincident economic indicator? a stock market prices b corporate profits c index of industrial produ
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!