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trasher [3.6K]
3 years ago
9

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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3 years ago
On July 1, 2021, Larkin Co. purchased a $460,000 tract of land that is intended to be the site of a new office complex. Larkin i
vova2212 [387]

Answer:

$75,300

Explanation:

The computation of the balance in the land is shown below;

Purchase cost

$460,000

Add:

Demolition of existing building on site

$71,000

Add:

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$12,900

Less:

Proceeds from the sale of demolition scrap

($8,600)

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$75,300

Therefore, balance in the land account as of December 31, 2021 is $75,300

3 0
3 years ago
Can someone please write a business article for me
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Answer:

u can use quillbot.com

Explanation:

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7 0
3 years ago
Marcy left a large Fortune 500 company to go to a small start-up technology firm. Earlier in her career, Marcy wanted a high sal
MrRa [10]

Answer: Maslow's hierarchy of needs

Explanation:

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3 0
3 years ago
What is the value of a put option at expiry if the stock price is 'S' and the exercise price is 'X'?
Setler [38]

Answer:

A put option is out of the money if the strike price is less than the market price of the underlying security. The holder of an option contract can exercise the option at any time before expiration.

Explanation:

hope this helps if not please let me know

6 0
2 years ago
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