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ollegr [7]
3 years ago
11

Identify the importance of accounting by selecting the statement that is correct below. Multiple choice question. Accounting inf

ormation helps users make business and financial decisions. Accounting is a system that identifies, records and communicates an organization's business activities. Accounting information is primarily used only at the end of a year when tax returns and financial statements are prepared.
Business
1 answer:
Zielflug [23.3K]3 years ago
6 0

Answer:

Accounting information helps users make business and financial decisions.

Explanation:

Users of accounting information are divided into :

  1. Internal users
  2. External users

Internal users include : owners, managers, employees

External users include : shareholders, tax authority, regulatory bodies

Based on the information contained in the financial information a shareholder can decide if to invest in a company or not to.

Also, mangers can decide to invest in new ventures based on the information on profitability contained in the financial statements.

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Bridget has opened a new clothing boutique. When would you say that the clothes she sells are in demand?
Svetllana [295]
The correct answer is <span>a.if buyers have the ability and desire to buy the clothes

This example has a lot to do with the market demand and production ideas. If the people can't buy it then the product won't succeed. If they won't buy it then it won't succeed either. So you need both the desire and the ability on the side of the buyer. </span>
5 0
4 years ago
The price (P) of designer jeans is affected by the supply (S) and the demand (D).
monitta
The price of designer jeans would likely increase if its demand increases and there is no changes in supply.
5 0
3 years ago
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An individual s ethical beliefs are influenced by his/her social group and culture. True or False
xxTIMURxx [149]
True is your right answer i believe <span />
7 0
3 years ago
Where a hirer exercises his option to purchase the goods; he must tender to the owner
Rudiy27

Hello, Don't worry! I will try to answer as best as I can and as fast as I can. Sorry if I am wrong. I am still learning. Hope you get this correct.

The perfect tender principle is the right of the consumer that says that goods that are bought must conform to the product description in quantity,quality and usage.It must also be delivered at an agreed time between the buyer and seller.If the goods fail to meet this requirement,the buyer has the legal right to reject the goods.

Hope this helps you!

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8 0
2 years ago
The following information is for S Corp first year of operations. Amounts are in millions of dollars. The enacted tax rate is 25
baherus [9]

Depreciation Expense  $ 4

<h3>What is Depreciation?</h3>

Depreciation in accounting refers to two aspects of the same concept: First, the actual decrease in the fair value of an asset, such as the annual decrease in the value of factory equipment.

The claim for depreciation on assets used by the assessee for the purpose of business or profession during the previous year. If an asset has been in use for more than 180 days, depreciation of 50% is allowable in that year.

Depreciation in Action - If a company purchases a delivery truck for Rs. 100,000 and expects to use it for 5 years, the company may depreciate the asset at a rate of Rs. 20,000 per year for a period of 5 years.

To know more about Depreciation follow the link:

brainly.com/question/25806993

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6 0
2 years ago
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