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3 years ago

Characteristics of generally accepted accounting principles include all of the following except

Business

1 answer:

Sever21 [200]3 years ago

8 0

Answer:

3.each principle is approved by the SEC.

Explanation:

Generally Accepted Accounting Principles are primarily specific accounting guidelines controlled by the Financial Accounting Standards Board (FASB) for financial reporting purposes. As such the practice has become universally accepted overtime, and every accountant considers GAAPs useful to their profession. Furthermore, most companies see it as an authority in accounting reporting.

However, not all GAAPs are approved by the SEC, primarily the SEC is concerned about those principles and standards that affect companies with public traded securities while it delegates the setting of appropriate standards for private organisations to the Committee on Accounting Procedure which was then later delegated to the FASB.

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You bought some shares of stock and, over the next year, the price per share increased by 5 percent, as did the

FinnZ [79.3K]

Answer:

d. a nominal gain, but no real gain, and you paid taxes on the nominal gain.

Explanation:

Nominal gain: In business, the term "nominal gain" is described as the increase or hike in the price or cost of an asset as per the "federal tax code" and is also denoted as "nominal amount" and is considered as non-adjustable for inflation. However, when a specific product or asset or stock is being sold more than its "actual price" or above its "purchase price" then a gain or profit is noted and hence is taxed.

In the question above, the correct answer is option D.

3 0

3 years ago

Which of the following will increase the future value of a lump sum investment? I. Decreasing the interest rate; II. Increasing

vichka [17]

Answer:

II. Increasing the interest rate;

III. Increasing the time period;

Explanation:

these two factors will increase the future value of a lump sum investment.

This can be explained as -

Suppose, a sum of $ 1,000 invested for 10 years @ 5 %, it will result in $ 1,628.89.

Now, if we increase the time period to 11 years, it will result in 1,710.34 And now if we increase the rate of interest to 6 %, it will result in $ 1,898.30

3 0

4 years ago

Plastic Company purchased 100 percent of Spoon Company's voting common stock for $648,000 on January 1, 20X4. At that date, Spoo

ANTONII [103]

Answer:

The amount of investment income is $52,000

Explanation:

Assets of $690,000

Liabilities of $230,000

Spoon's assets were equal except for land, which had a fair value $108,000 more than book value, and equipment, which had a fair value $80,000 more than book value.

Net income of $68,000

Paid dividends of $34,000

Proportionate share of reported income

Share in income from investment = 68000 × 100% = $68,000

Depreciation on equipment = (80,000 ÷ 5) = ($16,000)

Amount of investment income = $68,000 - $16,000

= $52,000

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3 years ago

A manufacturer of sports bicycles uses various cycling legends and sports celebrities as brand ambassadors to promote its produc

Luden [163]

Based on the information given the step of the international communications process did the manufacturer most likely go wrong is message channel.

Failure in International communication process occur when there is ineffective communication between the sender of the message and the receiver of the message.

Lack of general knowledge about the target market can as well lead to failure during promotional campaign reason being the product message to be communicated need to reflect needs of the target market.

Selling sport bicycles in other country for sporting those not means that other country use bicycles for the same purpose, based on this it is important that message channel is carefully chosen in a situation where an encoded message is to reach the target market.

Inconclusion the step of the international communications process did the manufacturer most likely go wrong is message channel.

Learn more about International communication process brainly.com/question/5031198

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3 years ago

What does the word Psychology means ?

nevsk [136]

Psychology is the study of behavior and the minds functions.

5 0

3 years ago

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