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3 years ago

What is meant by consistency when discussing financial accounting information?

Business

1 answer:

goblinko [34]3 years ago

6 0

Answer:

The correct answer is letter "A": Information presented by a company applies the same accounting treatment to similar events, from period to period.

Explanation:

In accounting, consistency is the principle that states a company must use an accounting method for book-keeping its transactions and the same method should be used from one period to the following. However, the consistency principle allows the company to change the current method for a more preferred method.

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Your career goals might help determine the postsecondary educational institute you attend.

Phantasy [73]

Answer:

true

Explanation:

What you do now or what your planning on doing can always determines what you can possibly do next. But you have to make sure your not doing or posting anything bad on the internet or else they won't hire you.

7 0

3 years ago

On 20/07/2019, "ABC" Company sold goods to customer "X" with a total value of $120.000 The customer pad

shepuryov [24]

Answer:

1) total sales revenue = $120,000

this amount holds regardless of how much money was collected in cash or if an account/note receivable was recorded

2) the company must recognize interest revenue:

principal = $72,000

interest revenue = $72,000 x 10% x 40/360 days = $800

Dr Interest receivable 8000

Cr Interest revenue 800

4 0

3 years ago

Bramble, Inc., manufactures golf clubs in three models. For the year, the Big Bart line has a net loss of $6,600 from sales $200

Advocard [28]

Answer and Explanation:

The preparation of the analysis is shown below:

Particulars Continue Eliminate Net Income (Decrease)

Sales $200,000 $0 -$200,000

Less: Variable Costs $176,000 $0 -$176,000

Contribution margin $24,000 $0 -$24,000

Fixed Costs $30,600 $20,600 $10,000

Net Income/Loss -$6,600 -$20,600 -$14,000

As we can see that in both the cases whether eliminate or continue the amounts comes in negative but in continue there is a less amount of loss as compared to eliminated one

Therefore, in this case, the big Bart line could be continued

8 0

3 years ago

Identify which assumption each given scenario references have.

NikAS [45]

Assuming it’s B) Transitive Tastes

5 0

3 years ago

PC Bell, a computer manufacturer that sells computer systems directly to customers, buys a computer chip for $150, software

Stella [2.4K]

Answer:

The price is $1,540

Explanation:

The reason is that the profit share is $1,100 and the cost includes computer chip, software and printer which are worth $150, $250 and $40.

The price can be calculated using the following formula:

Price - Cost = Profit

Here profit is $1100 and cost is $440 (150+250+40)

By putting the values we have:

Price - $440 = $1100

Price = $1100 + $440 = $1540

6 0

3 years ago