Answer:
<h3>there are<em>
<u> eight </u></em>branches in accounting:</h3>
1. forensic accounting
2. financial accounting
3. cost accounting
4. managerial accounting
5. fiduciary accounting
6. accounting information systems
7. tax accounting
8. Auditing
Answer: The correct answer is "C. An activity-based approach refines a costing system by focusing on individual activities as the fundamental cost objects. It uses the cost of these activities as the basis for assigning costs to other cost objects such as products or services.".
Explanation: The ABC costing model is a model that is based on the grouping into cost centers that make up a sequence of value of the products and services of the company's productive activity. It focuses its efforts on managerial reasoning in an adequate way the activities that cause costs and that are related through its consumption with the cost of the products. The most important thing is to know the generation of costs to obtain the greatest possible benefit from them, minimizing all the factors that do not add value.
Answer:
Jennifer is losing purchasing power by 2%.
Explanation:
An increase in prices indicates a decrease in the purchasing power of the consumers. An increase in income means an increase in the purchasing power of the consumers.
A 5% raise means that Jennifer's income will increase by 5% and so will her purchasing power. But at the same time, a price rise by 7% means that her purchasing power will decrease by 7%.
This means that overall her purchasing power will decrease by 2%.
Answer:
c. discretionary income.
Explanation:
There are various incomes which are explained below:-
a. Net Income: The income which is calculated after considering all expenses is called gross income.
b. Disposable income: The income which is computed after deducting the tax expenses is known as disposable income. It is not meant for basic necessities that means it considered only tax expenses.
c. Discretionary income: The income which is computed after considering the income, government taxes, other business expenses and day to day expenses is called discretionary income.
d. Gross income: The income which is calculated before considering all expenses is called gross income.
e. Earned income after taxes: The income which is earned after deducting the tax expenses is called earned income after taxes.
In the given situation, the most appropriate option is C.
Answer:
Sumner's has a loss of $-7750 from the sale of the equipment
Explanation:
Solution
Given that:
We compute the amount of profit and loss, few steps will be taken which is given below:
Step 1: we compute the book value of the equipment which is shown below:
Book value = purchase price - depreciation claimed
= $79,100 -$39,550
= $39550
Therefore then book value is $39,550
Step 2: we calculate the amount of Sumner's gain or loss which is shown below:
The gain (loss) is = the value (sale) - book value
= $31,800 - 39550
= -7750
Therefore the loss from the sale of the equipment is -$7750
Which implies that Sumner's has a loss of $-7750
