Which of the statements below are correct regarding cost of goods sold?

A. Finance, or financial management, requires the knowledge and precise use of the language of the field.

Sergio [31]

Answer:

1. Amortization Schedule.

2. Amortized loan.

3. Annual Percentage rate.

4. Discounting.

5. Future Value.

6. Opportunity cost of funds.

7. Time value of money.

8. Annuity due.

9. Perpetuity.

10. Ordinary annuity.

11. PMT/r.

Explanation:

Financial accounting is an accounting technique used for analyzing, summarizing and reporting of financial transactions like sales costs, purchase costs, payables and receivables of an organization using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP).

Some of the financial terminologies used in financial accounting are;

1. Amortization Schedule: A schedule or table that reports the amount of principal and the amount of interest that make up each payment made to repay a loan by the end of its regular term.

2. Amortized loan: A loan in which the payments include interest as well as loan principal.

3. Annual Percentage rate: A value that represents the interest paid by borrowers or earned by lenders, expressed as a percentage of the amount borrowed or invested over a 12-month period.

4. Discounting: A process that involves calculating the current value of a future cash flow or series of cash flows based on a certain interest rate.

5. Future Value: The name given to the amount to which a cash flow, or a series of cash flows, will grow over a given period of time when compounded at a given rate of interest.

6. Opportunity cost of funds: A 6% return that you could have earned if you had made a particular investment.

7. Time value of money: A concept that maintains that the owner of a cash flow will value it differently, depending on when it occurs.

8. Annuity due: A series of equal cash flows that occur at the beginning of each of the equally spaced intervals (such as daily, monthly, quarterly, and so on).

9. Perpetuity: A cash flow stream that is generated by a share of preferred stock that is expected to pay dividends every quarter indefinitely.

10. Ordinary annuity: A series of equal cash flows that occur at the end of each of the equally spaced intervals (such as daily, monthly, quarterly, and so on).

11. Time value of money calculations can be solved using a mathematical equation, a financial calculator, or a spreadsheet. The equation which can be used to solve for the present value of a perpetuity is given below;

Present value of a perpetuity (PV) = PMT/r

Where;

PMT represents the payment amount.
r represents the annual interest rate.

3 0

3 years ago

Services differ from manufacturing for all of the following reasons EXCEPT: a. Heterogeneity b. Time-perishable capacity c. Simu

wolverine [178]

Answer:C. Simultaneous production and consumption.

Explanation:

Production and consumption occuring at the same time will not make products to differ.

Heterogenity which refers to different qualities in firms will lead to different products. Time perishable capacity which means idle time during low patronage will still allowed products differences, Abilities to limit the discretionary input of personnel will not debar product differences and Customer provides significant input into the process will allowed products differences.

4 0

3 years ago

After identifying the purpose of your message, you should select the most appropriate communication channel. When determining th

Varvara68 [4.7K]

For an effective communication to take place the selection of the most appropriate channel ( medium for convening information) for the intended audience is very important

Explanation:

The factors that are important in the determination of the most appropriate channel/Medium for communication are:

Urgency of the message(Importance of the message)
Confidentiality of the message and the medium
Record(The business communication needs to be recorded)
Cost incurred in sending the message
Supporting Technology
Distance

When determining the most effective channel for the message,one should initially consider the importance of the message.

6 0

4 years ago

Concord Company uses the FIFO method to compute equivalent units. It has 4000 units in beginning work in process, 20% complete a

Andrej [43]

Answer:

67,840 units

Explanation:

The computation of the equivalent units for material by using the FIFO method is shown below:

Particulars Unit Percentage completion Equivalent units

Opening

inventory 4,000 units 50% 2,000 units

Completed

& transferred

(67,000

- 5,800) 61,200 units 100% 61,200 units

Closing

inventory 5,800 units 80% 4,640 units

Total 67,840 units

8 0

3 years ago

At the very least, Joe Average and Bill Gates are both identically limited by:

shusha [124]

Answer:

The correct answer is option 'B': The 24 hours that comprise a day

Explanation:

For comparison between 2 random variables only those values can be said to be identical that have the same values.

From the given options if we compare Joe and Bill Gates we conclude

1) The 2 person's are not identically limited by wealth as the wealth difference can be large.

2) Similarly they can have a vast difference in their knowledge.

3) Person that has larger wealth and knowledge will naturally have larger influence.

Now since the length of a day is 24 hours and this is a universal truth no matter what the circumstances we conclude that they both are limited by this parameter no matter whatever be the difference between the 2.

4 0

3 years ago