Answer:
OI, You didn't state the answers!
Explanation:
Answer: 4. The expenses incurred during a period are matched with the revenues that those expenses generated.
Explanation:
The accrual basis of accounting works by matching accounting transactions to the period that they occur in. For instance, if revenue is sold in year 1 but the cash for it is only received in year 2, the revenue will be recorded for year 1.
The matching principle falls under the accrual basis and matches the expenses in a period to the revenue that the expenses generated in that same period. This is why the expenses in the income statement are only those that occurred in the current period and expenses for future periods are put in the balance sheet.
Answer:
Mary has increased her data literacy skills that now allow her to access, interpret, summarize, and communicate data more effectively.
Explanation:
Data analysis is the process by which data is transformed in such a way that useful information can be extracted from it. Data analysis is a key skill that is needed in most business nowadays, for example; financial data can be very crucial in the planning, budgeting and execution of projects. The process of data analysis has been automated to take raw data and produce a result that can be readily consumed easily by humans in the form of charts and graphs. From this end result, conclusions can be drawn by data experts on what the results mean.
Experts in data analysis are therefor needed to adequately access, interpret, summarize and communicate data more effectively. These are skills that need to be learned for better overall quality of the data presentation. In general, the principals are referred to as data literacy skills. Data literacy can be defined as the ability of an individual to extract useful information from raw data.
Answer:
He does not report any gross income as life insurance proceeds are exempted from tax.
Explanation:
As a rule life insurance proceeds to a beneficiary are not taxable, they are viewed as non taxable inheritance of the deceased to the beneficiary.
However if Ellie had instructed the insurance company to hold the funds for sometime before paying Jason, the interest earned during that period will be taxable.
Answer:
business and trade publications
Explanation:
A trade publication is a type of publications that specifically share information between and about personnels or individuals, often experts, within a particular industry for the purpose of improving their business or field and to actively keep current or updated on market trends.
Hence, BUSINESS AND TRADE PUBLICATIONS is a good source for gathering competitive information about senior managers' responsibilities, their background, their education, and highlights of their achievements to date.
