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natka813 [3]
3 years ago
8

Which of the following statements is correct?a. The role of Finance is to use the numbers developed through accounting to aid in

decision making.b. The role of Finance is to use the accounting data to make all the decisions of the firm.c. The role of Finance is to make sure the firm shows a profit on its books.d. The role of Finance is to make sure the accountants are doing their job.
Business
1 answer:
olganol [36]3 years ago
3 0

Answer:

a. The role of Finance is to use the numbers developed through accounting to aid in decision making.

Explanation:

Finance department is solely responsible for making any conclusions from the financial statements.

Accounts basically helps in maintaining and preparing the financial statements and it represents the true and fair view.

But all the conclusions are drawn by the finance department.

That is the basic role of financing to help the management, draw conclusions and from such conclusions the decisions for further running the business.

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Below are transactions for Hurricane Company during 2021. a. On October 1, 2021, Hurricane lends $7,200 to another company. The
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Answer:

ACCOUNT          

interest expense  144 debit

interest payable  144 credit

rent expense        1200 debit

prepaid expense  1200 credit

unearned revenue  4600 debit

rent revenue  4600 credit

depreciation expense  3700 debit

acc dep machine  3700 credit

salaries expense  3200 debit

salaries payable  3200 credit

supplies expense  2600 debit

supplies  2600 credit

Explanation:

Interest is calculate doing:

principal x rate x time

7,200 x 0.08 x 3/12 = 144

rent

1,800 for 3 months  there is 2 expired 1,800 x 2/3 = 1,200

earned revenue on rent

11,040 x 5 monhts / 12 = 4,600

supplies:

beginning + purchase - ending = consumed supplies

600 + 3,700 - 1,700 = 2,600

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3 years ago
Which of the following practices should be discouraged during the problem-solving process?
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The answer is D

the reason why:
4 0
3 years ago
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5. This is the best way to separate sugar and sand mixture.​
den301095 [7]

Answer:

Explanation:

The sugar would dissolve in water. You could then pour off the solution and wash the remaining sand with a bit more water. Heat the water to evaporate it from the sugar, and the two are separated

7 0
2 years ago
Differentiation business strategies are often associated with premium prices. There are, however, reasons why a firm would NOT w
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Answer: e. To drive up market share

Explanation:

Differentiation strategies involve adding features to a good to make it stand out from the Competition. Since these features are usually beneficial, the value of the good goes up and the company selling them can charge more. This is the main way things are done in Monopolistic markets.

However, sometimes it is best to charge the same price the Competition is charging even though you have a better product. This way the company is able to capture Market Share because the consumers will believe they are getting a better value for their money. For instance, if a company was selling Toyotas at $2,000 and it's competitor was selling the same Toyota but with 2 extra tires for the same $2,000 who would you use? The Competitor most likely.

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4 0
3 years ago
Parkway Company incurred $126,000 in material costs during July. Additionally, the 12,000 units in the Work-in-Process Inventory
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Answer:

$ 13.167 / unit

Explanation:

Data provided:

Beginning material cost = $ 126,000

Number of units in work in progress = 12,000 units

Material cost assigned = $ 32,000

thus,

the total material cost involved = $ 126,000 + $ 32,000 = $ 158,000

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the material cost per equivalent unit = Total material cost involved / number of units

on substituting the values, we have

the material cost per equivalent unit = $ 158,000 / 12,000

or

= $ 13.167 / unit

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3 years ago
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