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Sergeeva-Olga [200]
3 years ago
7

Tate Corporation purchased a building for its grocery store for $30,000 in 1970.Based on inflation estimates,the amount of this

asset has been adjusted in the accounting records.The building is now reported at $75,000.Which of the following concepts or principles of accounting is being violated?
A) Going-concern concept
B) Stable monetary unit concept
C) Entity concept
D) None of the above
Business
1 answer:
Alex777 [14]3 years ago
7 0

Answer:

B) Stable monetary unit concept

Explanation:

Based on the information given the concepts or principles of accounting that was being violated is called STABLE MONETARY UNIT CONCEPT reason been that this type of accounting principle believe that the dollar purchasing power should often be stable or fixed regardless of the increase or rise in market price which is inflation which is why an accountant will often ignore the impact of inflation on goods and services based on the assumption of the principle of STABLE MONETARY UNIT CONCEPT.

Therefore Tate corporation has violated the accounting principle of STABLE MONETARY UNIT CONCEPT by adjusting the building amount that was purchase in 1970 in the Accounting record from the amount of $30,000 to the amount of $75,000 due to the effect of inflation.

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What investment per quarter does Luisa need to make at the end of each quarter into her savings account over 8 quarters to reach
EastWind [94]

Answer:

c. $1,010.36

Explanation:

Options <em>" ) $1,610.36 2) $522.93 3) $1,010.36 4) $110.02"</em>

<em />

Future value = Pmt * ((1+r)^n - 1) / r

Pmt = FV / ((1+r)^n - 1) /  r

Size of the deposit = 10,000 / ((1.06^8) - 1) / 0.06

Size of the deposit = 10,000 / (1.59384807453 - 1) / 0.06

Size of the deposit = 10,000 / (0.59384807453/0.06)

Size of the deposit = 10,000 / 9.897467908833333

Size of the deposit = 1010.359426482723

Size of the deposit = $1,010.36

4 0
3 years ago
Describe briefly what an automatic identification system (AIS) is and how service organization could use AIS to increase product
MrRa [10]

Answer:

An automatic identification system (AIS) is an automated tracking device fitted to a vehicle or vessel to display objects around the vicinity of the vessel on a screen.  This helps the driver of a vehicle, for instance, to identify such objects and know how to afford head-on collisions.  For a ship, the signal sent to the VT station helps in monitoring movements around the ship.

Explanation:

Most ships are fitted with AIS to enable Vessel Tracking services.  The AIS also shows the other ships that are around and transmits the information to the Vessel Tracking Station (VTS).  Some modern cars are fitted with AIS to help the driver to identify obstructive objects.  The identified signal is displayed on the dashboard of the car just as the maritime AIS displays on the ship's dashboard as it also transmits to the VTS.

3 0
4 years ago
Assets Liabilities and Net Worth
KiRa [710]

Answer:

The correct answer is $30 billions.

Explanation:

The checkable deposits are given as $140 billions.

The total reserves are $51 billions.

The required reserve rate is 30%.

The required reserves will be

=30% of $140 billions

=0.3 \times 140

=$42 billions

The excess reserves will be

=total reserves-required reserves

=$51-$42

=$9 billions

Maximum expansion by lending will be

=\frac{excess reserves}{required \ reserve\ rate}

=\frac{9}{0.3}

=$30 billions

So, the money supply can be expanded by a maximum amount of $30 billions.

5 0
3 years ago
Plz help me...
Alecsey [184]
I think it would be D, because to have morals means that you have values. It's basically what they believe in and so on.
3 0
4 years ago
Nathan wants to buy a sweatshirt and is trying to determine the better buy. He has a 30​% coupon for the​ in-store purchase. The
Alex17521 [72]

Answer:

Buy in-store.

Explanation:

The Polya technique suggests the following steps to solve a problem:

Step 1: Understand the problem.

Nathan is facing two options for buying a new sweatshirt. We need to calculate and compare both prices in order to determine the better buy.

Step 2:  Devise a plan.

To calculate and compare the prices we need to discount the coupons on both options and then buy the sweatshirt with the lower price.

Step 3:  Carry out the plan (solve).

<h2><u>Option A</u></h2>

Price: $36

Discount: -30%

Final price option A : 36 × ( 1 - 30%) = 25.2

<h2><u>Option B</u></h2><h2><u></u></h2>

Price: $32

Discount: -25%

Final price option B: 32 × ( 1 - 25%) = 24

 Step 4:  Look back (check and interpret).

Final price option A < Final price option B.

<h2><em>With this analysis in cosideration, we deduce that the better buy is the option A. In-store purchase.</em></h2>

<em></em>

<h2><u></u></h2><h2><u></u></h2>

5 0
3 years ago
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