The field of accounting that focuses on providing information for external decision makers is Managerial accounting. This is further explained below.
<h3>What is
Managerial Accounting?</h3>
Generally, Information for external decision-makers is the primary emphasis of managerial accounting. For investment decisions, stockholders rely heavily on management accounting data.
In conclusion, Managerial accounting is a branch of accounting that specializes in the dissemination of economic data to external decision-makers.
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The government sets a minimum wage for employees, and will collect various taxes from the business (sales tax, unemployment insurance tax, etc).
Answer:
The option (B) Debit Work in Process Inventory $72.000 credit Factory Wages Payable $172,000 is correct
Explanation:
Solution
Given that:
As the cost of labor was sustained as regards to processing the inventory and it was not completed, so debit the work in process of account.
There also exits a liability of paying labor charges for this it will be payable.
Hence credit factory wages payable.
For the other options they are crediting cash which is not yet paid, here the option A and E is wrong.
For option D, they are crediting inventory which in this case is not correct due to the existence of a liability for paying labor fees.
The option D is wrong, because they debited with the cost of sold goods.
Answer:
Answer is option B, i.e. compounding.
Explanation:
Compounding can be understood as an ability of an organization to generate earnings from previous given income. This leads to small growth compared to the previous one and therefore, leads to large differences in income.
