Answer:
The answer is net income
Explanation:
Net income is the difference the total revenue generated and the total cost(cost of sales, salaries, electricity etc.)
Materiality: A financial statement is said to material is when its misstatement or omission affects the opinion of its intended users.
Companies and auditors have agreed that anything under 5% of net income is considered not material, meaning any misstatement less than 5% of the net income is not considered to be important to alter the view of the users. In this kind of situation, auditors' opinion on the financial statement will be true and fair.
An example of the projected increase in the world economy from the recent Doha round of world trade organization negotiations is $160 billion to $385 billion per year
The Doha Round is the most recent round of trade talks among WTO members.
Its goal is to significantly modify the international trading system by lowering trade barriers and revising trade laws.
The labor program spans approximately 20 trade categories.
The Round is also known semi-officially as the Doha Development Agenda because one of its primary goals is to boost developing countries' trading prospects.
The Round was officially begun in November 2001 at the WTO's Fourth Ministerial Conference in Doha, Qatar. The Doha Ministerial Declaration established the framework for prior agreements, including those on agriculture, services, and intellectual property.
Hence, the answer is $160 billion to $385 billion per year.
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Answer:
More than one basis for departmentalization
Explanation:
Although departmentalization may be determined within an organization on the basis of one criterion, such as location, most organizations find more than one basis for departmentalization to be a more efficient means of conducting business where the main logic and philosophy is to group various activities. There are many forms and basis of departmentalization which could be either functional departmentalization, customer departmentalization, product departmentalization or location departmentalization. It works quite well and efficient when organization uses more than one basis for departmentalization.
Answer: $3,826
Explanation:
Discount received on terms 2/10 = (Purchase value – Cost of merchandise returned) x Discount Rate
= $4,000 - $300 x 2%
= $3,700 x 2%
= $74
if the company paid the invoice within the discount period, Then the total cost of this merchandise
Total cost of merchandise = Value of merchandise purchased– Cost of merchandise returned + Transportation Costs - Amount of discount received
= $4,000 - $300 + $200 - $74
= $3,826
Answer:
Amount of Cash paid is $2,415.3
Explanation:
Credit terms of 3/10, n/30 means there is a discount of 3% is available on payment of due amount within discount period of 10 days after purchase with net credit period of 30 days.
Purchase = $2,800
Amount Due = $2,800 - $310 = $2,490
As payment is made within discount period, so the discount will be availed.
Discount = $2,490 x 3% = $74.7
Payment = $2,490 - $74.7 = $2,415.3
Payment = $7,500 - $150 = $7,350
