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Zanzabum
4 years ago
6

As long as the information reported follows the generally accepted accounting principles (GAAP) guidelines, accountants in a fir

m have the liberty to use personal judgment to report transactions in the firm’s financial statements.
True/False?
Business
1 answer:
anzhelika [568]4 years ago
6 0

Answer:

The answer is: True

Explanation:

Generally accepted accounting principles (GAAP) are the most common set of accepted accounting principles, standards and procedures that businesses, their accountants and auditors must follow when they disclose their financial statements. For example, the SEC only admits financial statements that follow the US GAAP.

GAAP are meant to ensure a minimum level of consistency in a company's financial statements, so they can be analyzed and compared by investors an regulating authorities.

As long as an accountant follows the GAAP, he or she can use their personal judgement while elaborating the financial statements of a company.

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So if I ask a question does it take away my points or does it just get points from somewhere else and give it to you guys?? And
stealth61 [152]

yes your right it takes your points but it only gives us 5 to 100 and you but 5 so you only lost five and i got five but if you give brainest i will get 11 more so you should mark brainlest for ex

8 0
3 years ago
Read 2 more answers
At an output level of 59,000 units, you calculate that the degree of operating leverage is 3.3. The output rises to 64,000 units
11Alexandr11 [23.1K]

Answer: Percentage change OCF = 27.96%.

Explanation:

Given that,

Output level = 59,000 units

Degree of operating leverage = 3.3

Output rises to 64,000 units,

Degree of Leverage = \frac{Percentage\ change\ in\ Operating\ cash\ Flow}{Percentage\ change\ in\ Quantity}

Percentage change OCF = Degree of Leverage × Percentage change in Quantity

= 3.3 \times \frac{64000-59000}{59000} \times 100

= 27.96%

5 0
3 years ago
One advantage of credit is that it can give you a float time between buying the product and when you need to pay for it.
Sergio039 [100]

Answer: It's True

Explanation:

6 0
4 years ago
Read 2 more answers
Tyrone found a job posting for a customer service coordinator. Which of his experiences should he include on his résumé to demon
kvasek [131]

Answer:

The correct answer is letter "A": handle calls for the computer helpdesk personnel during heavy call times.

Explanation:

Customer service positions require employees to handle many different types of problematic cases in a given working day. Representatives must be willing to deal with frustrated customers who may be claiming for something fair as well as for things that the company you work in is not responsible for.

In that case, Tyrone should include his computer helpdesk experience since it is closely similar to the customer service coordinator position he is applying for.

4 0
3 years ago
Which of the following is a disadvantage of barter as a countertrade arrangement?
Wittaler [7]

Answer:

(C). Firms engaged in barter run the risk of having to accept goods they do not want or cannot use.

Explanation:

Countertrade is a trade system in which goods and services are exchanged for other goods and services.

Barter is a type of countertrade where money isn't involved. Only goods and services are exchanged between participating parties.

<em>A disadvantage of barter is that, in the absence of required goods, a firm may have to accept the goods the other firm is offering even though it doesn't need or cannot use those goods at that point in time. </em>The firm could resell the goods later.

5 0
4 years ago
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