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Liula [17]
3 years ago
11

Financial accounting is the process of identifying, measuring, and communicating financial information about an economic entity

to various user groups within the political, social, legal and economic environment. What are four major elements of financial accounting​?
Business
1 answer:
Anna007 [38]3 years ago
7 0

Answer:

The correct answer is "financial information; economic entity; user groups; legal, economic political and social environment"

Explanation:

The four major elements of financial accounting​ are:

1. financial information: includes items such as management discussion, analysis, and reports.

2. economic entity: An economic entity is company actions that are separate from its owners and other entities, such as corporations and governmental​ organizations.

3. user groups: request business information of an economic entity.  Investors and financial​ analysts are user groups.

4. legal, economic political and social environment: influences the financial reporting process.

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kodGreya [7K]

Answer: 16.8 hours

Explanation:

The throughput time will be calculated thus:

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3 years ago
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Explanation:

The stock price of Locked-In Real Estate (LIRE) will be calculated thus:

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4 0
3 years ago
thomas owes $438 on his credit card and was unable to pay more than the minimum payment of $20. unfortunately he mailed the paym
Kazeer [188]

Answer:

$575.82.

Explanation:

Since Thomas owes $ 438 on his credit card, but only paid the minimum of $ 20, his debt is now $ 418 (438 - 20). A late fee of $ 39 will be added to this value, which will raise said sum to $ 457 (418 + 39). In turn, the interest rate for unpaid card balances is 26% per month. Therefore, next month his balance will be $ 575.82 (457 x 1.26).

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3 years ago
Kingbird Inc. owns equipment that cost $672,000 and has accumulated depreciation of $174,000. The expected future net cash flows
aev [14]

Answer:

Explanation:

In this scenario, we compare the values between book value and the fair value of equipment, the difference would be the loss on impairment of the asset

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= Book value - fair value

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Book value = Equipment cost - accumulated depreciation

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Loss on impairment A/c Dr $114,000

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