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madreJ [45]
3 years ago
9

In addition to the three basic financial statements, which of the following is also a required financial statement?

Business
1 answer:
balu736 [363]3 years ago
8 0

Answer: B Statement of cash flows

Explanation: Statement of cash flows is prepared as part of the report included when presenting a Financial Statement. It describes how the cash of an organisation is being managed. it is broken down into 3 parts and they are:

Cash flow from Operating activities

Cash flow from Investing activities

Cash flow from Financing activities

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Best Appliances owns​ 90% of the voting stock of​ Wratchet, Inc. Which of the following is​ true? A. Wratchet would be considere
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B. Best would be considered the parent entity.

Explanation:

When a company owns another companies stock of 90% or more it would be considered as parent entity. The parent entity can control the the subsidiary. The financial statements will be consolidated into parents companies accounts.

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3 years ago
A7X Corporation has ending inventory of $701,073 and cost of goods sold for the year just ended was $7,461,613. a. What is the i
tatyana61 [14]

Answer:

(A) Inventory turnover= 10.64 times

(B) Days sales in inventory= 34.30 says

(C) Shelf life= 34.30 days

Explanation:

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(A) The inventory turn over can be calculated as follows

= cost of goods sold/ending inventory

= 7,461,613/701,073

= 10.64 times

(B) The day sales in inventory can be calculated as follows

= 365/inventory turnover

= 365/10.64

= 34.30 days

(C) A unit of inventory sit on the shelf for 34.30 days before it is sold

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3 years ago
Cheque issued for advertisement of rs 8000 journal entry​
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Individuals who want to work, but have given up searching for a job because of limited prospects, are known as.
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Individuals who want to work, but have given up searching for a job because of limited prospects, are known as discouraged workers.

<h3>Who are discouraged workers?</h3>

Discouraged workers are labour who are above 18 years and below 60 years but have given up on ever finding a job and thus are not actively searching for a job.

Discouraged workers are not counted as part of the labour force and they are not considered to be unemployed.

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2 years ago
Which of the following is not an essential part of the accounting records?
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Answer:

D. The worksheet

Explanation:

Accounting records are documents used to analyze and prepare financial statements. Accounting records are also documents which can be used to assess the performance of a company and also serves as source of records for audit purposes.

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3 years ago
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