Answer:
$150,000
Explanation:
Amount paid after project completion was =$50,000
The sales revenue for the new company = $550,000
Total deductions =$(250,000+70,000+30,000)=$350,000
Economic profit is the difference between the earned revenue from sell of outputs and cost of all inputs used and any opportunity costs.
In this case, opportunity cost will be the amount received by the web designer after the quit of the project.
Economic profit = $550,000 - $350,000-$50,000 = $150,000
Answer:. b) The standard statements focus on accounting income for the entire corporation, not cash flows, and the two can be quite different during any given accounting period. However, for valuation purposes we need to discount cash flows, not accounting income.Moreover, since many firms have a number of separate divisions and since division managers should be compensated on their divisions' performance not that of the entire firm, information that focuses on the divisions is needed. These factors have led to the development of information that is focused on cash flows and the operations of individual units.
Explanation: GAAP(generally accepted accounting principles) are sets of principles and guidelines which govern the preparation of accounting statements. They are prepared by the Financial accounting standards board, All public companies in the United States of America must follow these principles in making Financial statements.
The principles include OBJECTIVITY,MATERIALITY,CONSISTENCY AND PRUDENCE. Through this four core principles of GAAP financial statements are expected to be prepared.
C, at least 1/2
Hope this helps!
Answer: Liability Account
Explanation:
The Unearned Revenues Account is considered a liability account or more accurately a Current Liability.
It reports amounts received by a seller or service provider for goods and services to be rendered in future.
When the said good is sold or the service provided, this account is debited and the Revenue Account Credited.
This account is an important one as it recognizes the MATCHING principle of Accounting where Revenue and Expenses incurred should be attributed to the period they were acquired or incurred in.
Answer:
The correct answer is letter "D": an external source.
Explanation:
External resources are considered all those sources from where a researcher can gather information outside his or her own scope. External resources can be useful to compare data from different points of view so after contrasting them, the researcher can have an individual opinion of the subject being studied.