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almond37 [142]
2 years ago
10

What is the objective of financial reporting? Provide information that clearly portrays nonfinancial transactions. Provide infor

mation about the reporting entity that is useful to present and potential equity investors, lenders, and other creditors. Provide information that excludes claims to the resources. Provide information that is useful to management in making decisions.
Business
1 answer:
sladkih [1.3K]2 years ago
8 0

Answer:

Provide information about the reporting entity that is useful to present and potential equity investors, lenders, and other creditors.

Explanation:

Financial reporting refers to the presentation and disclosure of financial information of an entity to the public, investors, lenders and other stakeholder.

Financial reporting is carried out by reporting financial statements (balance sheet, income statements), statement of cash flows and other relevant/necessary disclosures, notes as required by law or statute or which are essential for better comprehension of such financial information.

Such information helps lenders to know the financial health of the entity, helps investors to decide whether it would be beneficial to invest in the entity, assures government of the compliance of laws by the entity, etc.

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Some companies require employees to only use their company cell phones for work related activities. Companies can check phone re
11Alexandr11 [23.1K]

Answer:

The correct answer is letter "D": honesty.

Explanation:

By relying on employees' honesty, companies who provide workers certain benefits such as corporate mobile phones or credit cards believe employees will make correct use of those resources. Some entities prefer to implement tracking systems that allow them to check for what purposes those resources were utilized not only to verify their proper use but to evaluate what kind of employee they are dealing with.

4 0
3 years ago
Lynwood, Inc. produces two different products (Product A and Product X) using two different activities: Machining, which uses ma
Murljashka [212]

Answer:

$434,000

Explanation:

Total machining cost = Number of machine hour * Rate per machine hour

= 3,100 * $140

= $434,000

Hence, The total machining cost allocated to product X is $434,000.​

5 0
3 years ago
Why do you think it is important to do what is right even when no one is looking
kirill115 [55]

It's important because if you were to get used to doing "something wrong", you might as well go into the habit until you get caught. Besides, it's best to do the right thing.

5 0
3 years ago
QS 6-4 Perpetual: Inventory costing with FIFO LO P1 A company reports the following beginning inventory and two purchases for th
pogonyaev

Answer:

$544

Explanation:

LIFO means last in first out. It means it's the last purchased inventory that is the first to be sold.

The cost of the 250 units sold would be first deducted from the inventory purchased on the 25th

= 100 × 2.34 = $234

That leaves 250 - 100 = 150 units.

The cost of goods sold would be next allotted to the inventory purchased on the 9th

= 50 × 2.20 = $110

This leaves 150 - 50 = 100

The cost of the 100 would be alloted to the beginning inventory

100 × $2 = $200

Total cost of goods sold = $200 + $110 + $234 = $544

I hope my answer helps you

5 0
3 years ago
. The start of noncritical activities are delayed beyond their earliest start times (but not beyond their latest start times) in
ozzi

The correct answer is D) maintain a uniform level of required resources.

The start of noncritical activities is delayed beyond their earliest start times (but not beyond their latest start times) in order to maintain a uniform level of required resources.

That is why companies have to establish their priorities and identify the main activities that must be accomplished on time, the people responsible to accomplish the activity, and the resources needed to successfully do so. Noncritical activities can be delayed up to a point, but the critical activities have to be followed according to the schedule.

7 0
2 years ago
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