The figure in the amount column is sometimes referred to as 'cumulative balance'. Why is it referred to in this way?

All of the following are appropriate benchmarks for a state or local government to use as a basis for comparing performance exce

r-ruslan [8.4K]

Answer:

Federal agencies' financial information for a comparable time period.

Explanation:

Benchmarking can be regarded as management accounting innovation, which is been utilized in both the private and the public sectors for performance measurement as management. There are alot of success reported by public sector accounting researchers with the use of benchmarking, however there is

charged problems that still exist in implementing as well as using this management technique. The appropriate benchmarks for a state or local government to use as a basis for comparing performance are;

✓Socioeconomic and demographic trends of governments of similar types and size available from U.S. Census Bureau.

✓ A government's own operating results and financial position from prior years.

✓ International City/County Management Association's Financial Trend Monitoring System results for governments of similar types and size.

8 0

3 years ago

The Purchasing Policy Guidelines of the Southern Supply Inc. indicate that the company is committed to procuring its goods, prod

Harrizon [31]

Answer:

The-buying manager's-conduct should-be-relied upon to-expand Southern's-hazard by-expanding its-presentation to-potential-supply-deficiencies or-confounded conveyances

Trust in business is an incredibly dubious notion. It depends on the shared fulfillment of included gatherings, and the apparent life span of their relationship. There might be a clouded side to it - regarding "defilement/pay off", "preference", "nepotism" and so forth which may prompt "an underestimated, one-sided demeanor" and in the end bargain "quality" - antagonistically influencing the business' prosperity.

Presently, given this thought, you may acknowledge why Southern Supply Inc. had a buying approach of acquiring its items/administrations from an expanded pool of specialist co-ops. It is actually as the mainstream saying goes - "One-ought not-put-every one of their-eggs-into-one-bin"

6 0

3 years ago

On December 31, Year 1, the Loudoun Corporation estimated that 3% of its credit sales of $112,500 would be uncollectible. Loudou

Naddika [18.5K]

Answer:

The correct answer is B. (3,375) = NA + (3,375) NA − 3,375 = (3,375) NA.

Explanation:

The question asks for the effect of the adjusting entry on December 31, Year 1, that is, the creation of the 3% allowance for uncollectible debts.

Allowance for bad debts = 3% x $112,500 = $3,375

Its effect is as follows.

Assets: Since accounts receivable (an asset) is reduced, assets are reduced by $3,375.

Liabilities: No effect.

Equity: As Equity = Assets - Liabilities, the net effect is to reduce the equity by $3,375.

Revenue: No effect.

Expenses: Sales worth $3,375 is written off as an expense. Hence, total expenses increase by $3,375.

Net increase: As revenue remains unchanged while expenses increase by $3,375, the net increase is a negative of $3,375.

Cash flow: No effect, because there is no exchange of cash since the amount of $3,375 was never received by Loudoun Corporation.

These entries correspond to option B. which is thus the correct answer.

8 0

2 years ago

Select the incorrect statement regarding costs and expenses.Multiple ChoiceExpenses are incurred when assets are used to generat

d1i1m1o1n [39]

Answer:

Manufacturing-related production costs are initially recorded as expenses

Explanation:

Cost is defined as an amount that has to be paid or spent to buy or obtain something. Cost can be specific, like, "What is the cost of a particular product?" or it can be a penalty, like consider the cost of missing the event.

Expenses sounds similar to that of cost: an amount of money that must be spent especially regularly ro pay for something.

Manufacturing cost are considered to as those that are spent to transform materials into finished goods. Manufacturing costs include direct materials, direct labor, and factory overhead.

Manufacturing cost are also known as factory cost or production cost

3 0

3 years ago

Read 2 more answers

Increases to owner's equity may be from expenses that are incurred. expenses exceeding revenue for the period. withdrawals of ca

Trava [24]

Revenue that is derived from sales of goods or services

3 0

3 years ago