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3 years ago

Identify which basic principle of accounting is best described in each item below.

Business

1 answer:

adelina 88 [10]3 years ago

4 0

Answer:

The Matching Principle

Explanation:

The Matching Principle of accounting holds that revenues should be matched with expenses. Hence the name.

This is to say, that revenues should only be recognized when the associated expenses with those revenues have been spent.

For example, in numeral a), we can see that Norfolk Southern Corporation recieved cash in advance, but it only recognized revenue once it had performed the services associated with that cash collection.

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Many fast-food restaurants compete on lean business concepts. Match each of the following activities at a fast-food restaurant w

yawa3891 [41]

Answer:

1. C.

2. A.

3. B.

4. C.

5. A.

6. C.

7. B and C.

8. B.

9. A and B.

10. C.

Explanation:

1. Courteous employees is a total quality management (TQM).

2. Food produced to order is a just-in-time (JIT).

3. New product development is a continuous improvement (CI).

4. Clean tables and floors is a total quality management (TQM).

5. Orders filled within three minutes is a just-in-time (JIT).

6. Standardized food making processes is a total quality management (TQM).

7. Customer satisfaction surveys is both a continuous improvement (CI) and total quality management (TQM).

8. Continually changing menus is a continuous improvement (CI).

9. Drive-through windows is both a just-in-time (JIT) and continuous improvement (CI).

10. Standardized menus from location to location is a total quality management (TQM).

A lean business is a business concept used by organizations to eliminate waste and maximize value for growth and development. The lean business concept include the following;

A total quality management (TQM) is a management framework that is focused on achieving long-term success through the satisfaction of your customers by the efforts of all the member of staff in an organization.

Just-in-time (JIT) is a management framework that is focused on cutting manufacturing costs and increase efficiency between suppliers and consumers through the use of a proper inventory system.

A continuous improvement (CI) is a management technique that is focused on improving manufacturing processes, products and services through the elimination of redundancy and time-wasting activities in an organization.

5 0

3 years ago

Wealth creating transactions are more likely to occur a. With private property rights b. With contract enforcement c. Both a a

Marina86 [1]

Answer: C

Explanation:

Wealth is the gradual gathering of profits, assets or income over a period of time. It is the gradual increase in ones assets over a sustained period.

Wealth creating transactions can be found both in contract enforcement and private property rights. The prosperity and economic development of a country can be attributed to the respect accorded to its citizens property rights.

Property rights gives room for entrepreneurship which can eventually lead to wealth accumulation. Contract enforcement also generate wealth for individuals.

8 0

3 years ago

Joe is an accountant and plans to join a group of accountants. he compares a group in a general partnership with a group in a li

Artyom0805 [142]

An organization in which all accomplices are constrained accomplices is a limited liability partnership(LLP). It along these lines shows components of associations and companies. In a LLP, one accomplice is not dependable or obligated for another accomplice's offense or carelessness. Joe would not be subject if another accomplice were to commit an error. The answer is the 4th one.

6 0

2 years ago

Read 2 more answers

OKRs were naturally integrated into the management of MyFitnessPal. A successful innovation to the OKR system made by Mike Lee w

shusha [124]

Answer:

A. True

Explanation:

Since in the question it is mentioned that QkR is naturally integrated into the MyFitnessPal management. Also the innovation would become the successful when the objectives are matches according to the people instead matching the people to objectives as in this the people are aligned and understand what the firm wants that they work like this

Therefore the given statement is true

3 0

3 years ago

You own a bond that pays $64 in interest annually. The face value is $1,000 and the current market price is $1,062.50. The bond

drek231 [11]

Answer:

the yield to maturity of this bond is 5.7%

Explanation:

given data

pays interest annually C = $64

face value F = $1,000

current market price P = $1,062.50

bond matures n = 30 years

solution

we get here yield to maturity that is express as

yield to maturity =

yield to maturity = [C+ (F-P) ÷ n] ÷ [(F+P) ÷ 2 ] .................1

put here value and we get

yield to maturity = $\frac{64+(1000-1062.50)}{11}$ ÷ $\frac{(1,000+1,062.50)}{2}$

yield to maturity = 0.057

so that the yield to maturity of this bond is 5.7%

6 0

2 years ago