Answer:
sales revenue. We are going to debit profit and loss too for cost of labor if need arises.
Answer:
firstly; the area to start with. find out more about the place. Their income and the rate at which goods are sold there.
Answer:
1 year rate 2 year from now = 12% (Approx)
Explanation:
Given:
1-year rate = 8%
2-year rate = 9%
3-year rate = 10%
Computation:
According to Pure Expectations Hypothesis,
(1 + 3-year rate)³ = (1 + 2-year rate)² (1 + 1 year rate 2 year from now)
(1.10)³ = (1 + 1.09)²(1 + 1 year rate 2 year from now)
1.331 = 1.1881 (1 + 1 year rate 2 year from now)
(1 + 1 year rate 2 year from now) = 1.12
1 year rate 2 year from now = 0.12
1 year rate 2 year from now = 12% (Approx)
<span>Mid-level managers oversee the activities of first-line managers. Mid-level managers are responsible for their department and report to top management. Mid-level managers must make sure that resources are allocated correctly and must invest money in training and development, materials, supplies and technology. They communicate the goals and strategies to first-line managers.</span>
<span>If these are the missing choices:
</span>A : the Securities and Exchange Commission, income principle
<span>B : GAAP, revenue recognition principle
C : GAAP, expense recognition principle
D : the IRS, tax principle </span><span>
My answer is: </span><span>B : GAAP, revenue recognition principle
</span><span>
The cash-basis is not in accordance with GAAP, and mahogany is in violation of the REVENUE RECOGNITION PRINCIPLE.
GAAP refers to Generally Accepted Accounting Principle.
It is stated that income must be recognized when it is earned not when cash is received. Because the company is using cash-basis, they will only report income earned on July 12 when they received the money not when they earned it which is before their fiscal year ending June 30.
They should recognized receivables from customers before closing the books for the fiscal year. </span>
