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Reil [10]
2 years ago
15

As a warm-up, here's a question that won't affect your score. We recommend you take this test in a quiet place free from distrac

tions. The timer shows the time remaining for each question. The assessment will begin when you hit "Continue."Generally Accepted Accounting Principles (GAAP) are a) commonly agreed-upon professional accounting standards in the United States b) legally binding rules created by the Internal Revenue Service c) standards required only for large companies with over $100M in revenue
Business
1 answer:
sveta [45]2 years ago
8 0

Answer:

a) commonly agreed-upon professional accounting standards in the United States

Explanation:

According to the Generally Accepted Accounting Principles (GAAP) it consist of accounting principles, rules, procedures that are followed companies to companies so that there financial statements considered to be valid.

Here, in the given question the option A is correct as it is agreed for the professional accounting standard that shows the Generally Accepted Accounting Principles (GAAP)

Hence, the correct option is A.

You might be interested in
Suppose that the only café in town can sell five fish dinners per night at a price of $10 each. If this monopoly firm wants to s
UNO [17]

Answer:

a.$4

Explanation:

initial price of fish dinner per piece was= $10

no. of fish dinner sold = 5

total initial revenue= 5*10= $50

new price of fish dinner = $9

and now six  fish dinners are sold

new revenue= 6*9= $54

therefore the marginal revenue from the sixth dinner sold= 54-50= $4

hence option a is correct

4 0
3 years ago
С
lozanna [386]

Answer:

I think C is correct answer

8 0
2 years ago
Ultimately, the study of international business is no different from the study of domestic business. Thus, there is no point in
insens350 [35]

Answer:

Explanation:

Where the culture and the mode of living are completely different, international business is going beyond boundaries.

People of single culture and region are been dealt with in the domestic business, and it is easy to know what the customer needs. Many cultures are been dealt with when it comes to international business, and there is a need for product customization as per the location. This would require a team that manages these issues in each region.

Hence, when compared to domestic business, the business will be in a large mode. Thus, there is a separate course for international business which helps us to reach the heights we require to see the whole world.

Based on the explanation above, the statement given in the question is false.

7 0
3 years ago
In the process of reconciling its bank statement for January, Maxi's Clothing's accountant compiles the following information:
Troyanec [42]

Answer:

$4,469

Explanation:

Calculation for what The adjusted cash balance per the books on January 31 is

Using this formula

Adjusted cash balance = cash balance per books -bank service charges - EFT automatically deducted - NSF Check

Let plug in the formula

Adjusted cash balance= $5325 - $31 -$500 -$325

Adjusted cash balance= $4,469

Therefore The adjusted cash balance per the books on January 31 is $4,469

5 0
3 years ago
A young couple is planning for the education of their two children. They plan to invest the same amount of money at the end of e
laila [671]

Answer:

The couple must save $ 6,598 each year

Explanation:

Calculating the payment amount:

Cost per year = $25,000 per each child

Cost for 4 years = $25,000 × 4 = $100,000

For the oldest child, the college will begin in 16 years and the second child the college will begin in 18 years.

Calculating the amount to be deposited each year for the oldest child.

Using Microsoft Excel PMT function  

Rate = 8%

N = 16

PV = 0

FV = -100000

= $3,298

Therefore, they must deposit $3,298 each year for their oldest child.

Calculating the amount to be deposited each year for the second child:

Using Microsoft Excel PMT function  

Rate = 8%

N = 18

PV = 0

FV = -100000

= $2,670

Therefore, they must deposit $2,670 each year for their second child.

Total sum to be saved per year = $3,298 + $2,670 = $6,598

6 0
3 years ago
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