Answer:
b) income statement as a $2,320,000 cumulative effect of accounting change
Explanation:
Base on the scenario been described in the question, The change in inventory steps to FIFO from LIFO which made an increase in Inventory should be recorded in the retained earnings statement as a $2,320,000 addition to the beginning balance. Option b is the answer
Answer:
D. financial accounting information.
Explanation:
Financial reporting can be defined as the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors.
Financial accounting is an accounting technique used for analyzing, summarizing and reporting of financial transactions like sales costs, purchase costs, payables and receivables of an organization using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP). These accounting informations are prepared and made available for investors and other external agencies. Examples of financial statements includes Balance sheet, cash-flow and income statement.
In this scenario, Connie is analyzing the financial statements of MegaMart and Bullseye Company. She wants to invest in one of the companies and is trying to decide which company has the better past performance.
Hence, Connie is examining the financial accounting information.
The doctor is responsible for supplying the required instruments for the surgery procedure.
<h3 /><h3>What is the real meaning of a doctor?</h3>
A person certified to exercise medicine, as a physician, surgeon, dentist, or veterinarian. someone who has been presented with a doctor's degree can be called as Doctor. He is a Doctor of Philosophy.
The buying process of surgical equipment for the successful operation of a patient is initiated by the doctor and the hospital authorities.
Therefore, The doctor is responsible for supplying the required instruments for the surgery procedure.
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