Answer:
The correct answer is letter "D": Justifies ignoring the matching principle or the realization principle in certain circumstances.
Explanation:
According to the General Accepted Accounting Principles (GAAP), the materiality principle states that some accounting transactions could be ignored as long as they do not affect the Financial Statements. The issue relies on the accountant deciding which transactions to ignore since there is not a set guide established by the GAAP stating what could or could not be ignored.
Thus, <em>the matching or realization principle could be ignored as long as the transactions involved do not affect the Financial Statements.</em>
I think it’s 3 and 4 as the answer.
Answer: $8,392.56
The total amount Irini owed Olena is $8,392.56
Explanation:
By using compound interest to solve the question
A=p (1+ r/n) *nt (raised to power nt)
A= future amount to be returned (unknown)
P= principal (present value) =$8,000
r = 4.8% = 0.048
t = 1year
n = 12 payments in a year ( the rate compounded monthly)
A= 8000 {1 + (0.048/12)} * 12
A = 8000 ( 1+0.004) *12
A = 8000 (1.004) *12
A = $8,392.56 as the amount to owed.
Nt: * 12 means raised to the power of 12.
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What does the consumer price index measure? B. the change in prices of specific goods and services over time. The consumer price index is also know as the CPI when reffering to this calculation. The CPI measures the weighted items of specific consumer goods and services by averaging them overtime. The CPI allows for comparison of the same products that consumers use on a daily basis and see how much they are using each year. This lets us know how the economy is doing as it relates to inflation. Inflation is the increase in prices and decline of the purchasing value of money in an economy.