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
solmaris [256]
3 years ago
10

Steve is in charge of accounting for the purchase of equipment at Cal Works, Inc. The company has a policy that all expenditures

greater than $1,000 (1% of total expenditures) have to be capitalized; less than $1,000 expensed. Steve is under pressure to report high earnings. He takes one $600 and $900 expenditure, adds them together, and records a capital expenditure for $1,500. Which of the following reasons and rationalizations might Steve use for his action: Group of answer choices
A. One-time request
B. Standard Practice
C. Representational faithfulness
D. Materiality
Business
1 answer:
Svetlanka [38]3 years ago
5 0

Answer: Materiality

                   

Explanation: In simple words, materiality refers to the accounting concept which states that only those transaction should be recorded in the financial statements which are important to the stakeholders.

In other words, the transactions should be recorded in such a way that it gives some value to the stakeholders.

Therefore, in the given case, steve reported two expenditures in the fiancial statement as the amount is significant, thus,must be holding the value to stakeholders.

Hence the correct option is D.

You might be interested in
Which contractual standard for product safety and liability says that buyers chose to make purchases and therefore every purchas
taurus [48]
<span>The contractual standard for product safety and liability that says the buyer chose to make the purchases and knows the each purchase involves informed consent is often referred to as the standard of caveat emptor. This is simply a warning that lets the buyer know and understand the product is sold as is and is subject to all defects. Basically, another way of saying buyer be ware.</span>
3 0
3 years ago
Steve wanted to open a day care service facility for dogs. He estimated the costs involved in providing the services desired by
9966 [12]

Answer:

Business analysis.

Explanation:

4 0
3 years ago
How can globalization negatively affect american farmers health
Yuliya22 [10]

Explanation:

Negative Impact of globalisation:

Attraction of global market resulted in farmers shifting from traditional or mixed cropping to unsustainable cropping practices. The competition from cheaper imports pushed down the prices of crops like cotton, wheat etc making agriculture unsustainable for many farmers.

6 0
2 years ago
If your answer is zero, enter "O". a. Under a 2017 divorce agreement, Joan is required to pay her ex-husband, Bill, $2,340 a mon
scoundrel [369]

Answer:

$2,400 in 2019 are deductible as alimony.

Step-by-step explanation:

Hillary get divorced in the year = 2016

She has to pay her ex-spouse $200 per month until her son reaches 18 years of age in 7 years.

His son will reach of the age of 18 = 2016 + 7 = 2023

She has to pay $200 till 2023 and $120 thereafter.

Her payments are deductible as alimony in 2019 would be = $200 × 12

                                                                                                 = $2,400

$2,400 in 2019 are deductible as alimony.

4 0
3 years ago
Groundswell Industries, a U.S.-based large conglomerate, competes in the hospitality, education, telecommunications, entertainme
OLga [1]

Answer:C. Product-market diversification strategy

Explanation: Product-market diversification strategy is a business strategy where a company invests in different product lines like FOOD,MEDICALS, ENGINEERING,CEMENT etc and in different markets. This will make the Business organisation to be very versatile and able to over come certain harsh economic conditions. Many international and multinational companies have pursued this strategy to enhance their overall business growth and development.

3 0
3 years ago
Other questions:
  • A common feature of skiing is waiting in lift lines. Does the existence of lift lines mean that the price is not working to allo
    9·1 answer
  • Woodmier Lawn Products introduced a new line of commercial sprinklers in 2020 that carry a one-year warranty against manufacture
    10·1 answer
  • On January 1, 2013, Ameen Company purchased a building for $36 million. Ameen uses straight-line depreciation for financial stat
    10·1 answer
  • The incident commander or unified commander establishes incident objectives that include:
    13·1 answer
  • An otr® asks a client with impaired balance to dust and polish a bookshelf in standing position without upper-extremity support.
    14·1 answer
  • Dr. hamrick is hired by the abc company to hear cases involving grievances of employees of the company. sometimes evidence is pr
    12·1 answer
  • 1. A new furnace for your small factory will cost $27,000 to install and will require ongoing maintenance expenditures of $1,500
    12·1 answer
  • 2 Points
    11·1 answer
  • How do you derive consumer equilibrium is the cardinal utility approach​
    14·1 answer
  • A town passes a zoning ordinance preserving the architectural style of an area and requiring plantings in the parking strips. Th
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!