1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lys-0071 [83]
3 years ago
6

The purpose of GAAP's flexibility in its reporting standards allows companies to: Select one: a. Smooth reported revenues and ea

rnings over several reporting periods. b. Change accounting estimates to meet target sales or earnings. c. Change accounting principles to improve reported earnings. d. Adopt specific accounting and reporting procedures to represent the firm's activities more accurately.
Business
1 answer:
jarptica [38.1K]3 years ago
6 0

Answer:

D. Adopt specific accounting and reporting procedures to represent the firm's activities more accurately.

Explanation:

GAAP in accounting means Generally accepted accounting principle. It is a uniform collection of accounting rules and standards for reporting financial accounting for organizations

The main reason or purpose of GAAP is to ensure that there is transparency and consistency in the reporting of financial details from one organization to another. The aim is to also help firms record their financial activities accurately by adopting specific accounting and reporting procedures as stipulated by GAAP.

You might be interested in
The work of _____ on light was not widely regarded at the time because it was the opposite of what Newton (who was already wildl
gtnhenbr [62]

Answer:

Christiaan Huygens

Explanation:

Christiaan Huygens was a Dutch physicist with many credits and inventions some of which is the pendulum clock and production of many telescopes. He is also credited as the father of theoretical physics being the first to make use of formula in physics. His wave theory of light was controversially not widely regarded because of Isaac Newton's earlier theory on corpuscular theory of light.

He published his work on the wave theory of light in the book called Treatise on Light in 1690 which was then seen as the opposite of what Newton (who was already wildly famous) had proposed.

6 0
3 years ago
What is a significant weakness of a tradition based economy?: 1) daughters are expected to do different work than their mothers
stiv31 [10]
In tradition based economy, it has its components, strong points and weakness. Their weakness could affect the people in different ways and in the following above is one of them. The correct answer would be number 2, it has great difficulty dealing with change, it is because this type of economy is accustomed with their traditions that when change kicks in, they would have problems because they are new and used to it. 
7 0
3 years ago
Terra Mesa Manufacturing uses a job order cost system to account for its production of specialty patio furniture. On June 30, th
devlian [24]

Answer:

$612,230

Explanation:

Since in the question it is mentioned that the company used the job order cost system for production of specialty patio furniture

Also there is various balances mentioned in the question

Now the total of all open job order cost is equivalent to the work in process amount i.e. $612,230 and the same is to be considered

Hence, the total is $612,230

3 0
3 years ago
State a comparison of
Korvikt [17]

Answer:

Ice, liquid water, and water vapor differ in the arrangement and motion of water molecules

Explanation:

3 0
2 years ago
Investors choose international diversification because:
Stells [14]

Answer: I found the correct and complete question:

Which of the following statements is most CORRECT with respect to international diversification?

a) the gains from diversification may be diminished due to combined correlations accompanied by volatility in world markets. b) world markets always seem to be most uncorrelated when volatility is present. c) world markets have displayed relatively low and fixed correlations over the last five years. d) global diversification produces gain even when world markets have correlations value near one.

Explanation: The correct answer is "a) the gains from diversification may be diminished due to combined correlations accompanied by volatility in world markets.".

Global markets are generally in different phases and many of them are part of weak economies that therefore have a high degree of volatility and some are correlated so that a loss in one of these markets can lead to a loss in another and earnings can be diminished.

4 0
3 years ago
Other questions:
  • One way to prevent relapse is to recognize and use the tools we have to be active. what are some tools you have gained this seme
    5·1 answer
  • Over the last four years, a stock has had an arithmetic average return of 8.8 percent. Three of those four years produced return
    9·1 answer
  • A[n] ___________ is a promise or set of promises for the breach of which the law gives a remedy or the performance of which the
    11·1 answer
  • Can someone assist with my question.... really important, semester coming up soon. Thank you in advance
    11·1 answer
  • In what ways does the format of a statement of financial or position under ifrs often differ from a balance sheet presented unde
    14·1 answer
  • For each transaction, indicate the transaction's effect on the company's accounting equation by selecting either increase, decre
    12·2 answers
  • Cho is working on poverty reduction in a Philadelphia public housing development. In the analysis he writes after the project, h
    14·2 answers
  • The point at which it is no longer advantageous to buy in bulk is known as marginal?
    10·2 answers
  • The Box Manufacturing Division of the Allied Paper Company reported the following results from the past year. Shareholders requi
    9·1 answer
  • What is the purpose of capital markets?
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!