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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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Explain the check and balance of power between the legislative and executive branch when it comes to the power to make laws.
777dan777 [17]

Laws are created by the legislative branch, but the President, who is part of the executive branch, has the power to veto them.

<h3>How do the legislative and executive branches work together?</h3>
  • The day-to-day administration and enforcement of Federal legislation is the duty of the executive branch, through the Federal agencies. The aims and responsibilities of these federal ministries and agencies range greatly, from safeguarding the environment to securing the country's borders.
  • A statute may be subject to the President's veto in the executive branch, but with enough votes, the legislative branch can override the veto.
  • The legislative branch has the authority to ratify presidential appointments, manage the budget, impeach the president and force their resignation.
  • Executive orders, which are akin to proclamations and have legal effect, can be declared by the executive branch, but they can also be ruled unlawful by the judicial branch.

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3 0
2 years ago
A deposit of $90 is placed into a college fund at the beginning of every week for 5 years. The fund earns 3% annual interest, co
laila [671]

Answer:

$25,249.50

Explanation:

Deposit at the beginning of every 6 month (A) = 90

Time period (t) = 5

n = 52

Rate (r) = 3% = 0.03

So, the net amount in the account right after the last deposit is as follows:

= A * [(1+r/n)^(n*t) - 1 / r/n] * (1 + r/n)

= 90 * [(1+0.03/52)^(52*5) - 1 / 0.03/52] * (1 + 0.03/52)

= 90 * [(1.16178399147 - 1 / 0.000577] * (1+0.000577)

= 90 * 280.3882 * 1.000577

= 25249.498559226

= $25,249.50

6 0
3 years ago
The ____________ is designed to account for cases in which the action or outcome is desired but not certain, and reflects the co
Oksanka [162]

The answer is trying-to-consume model.

The trying-to-consume model is intended to account for situations in which the action or outcome is wanted but not known, and it depicts the consumer's attempts to consume, whether successful or not.

What is trying-to-consume model?

  • Trying to consume, in general, focuses on a goal that a consumer seeks but may fail to pursue or attain due to various assumptions of abilities to reach the objective.
  • It comprises of a person's knowledge or impression of a few items or services based on personal experience or relevant information obtained from numerous sources. This information generally leads to consumer perceptions and particular action.

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5 0
2 years ago
Consider the market for mobile applications, smartphones, and conventional phones. For each pair, identify whether they are comp
Bogdan [553]

Answer and Explanation:

The complementary goods are those goods which are used together while on the other hand the substitute goods are those goods that are used in place of one another

Based on this, the classification is as follows

1. Complementary goods

2. Substitute goods

3. Substitute goods

The above represents the classifications

8 0
3 years ago
A market-penetration pricing strategy is most suitable when Answer . A) a low price slows down market growth B) production and d
Alik [6]

Answer:

B) production and distribution costs fall with accumulated production experience

Explanation:

A low price may slow down market growth. However, it cannot occur in the market penetration strategy because a market penetration strategy lowers the price to attract customers in a discouraging competitive market. Therefore, option "A" and option "E" is incorrect. As the penetration strategy offers a lower price, therefore, the higher price is nowhere near the option, so "C" is not correct. As the price is low, customers want to buy more, and it is not an inelastic demand. Therefore, the option "D" is wrong also.

As penetration strategy produces the products at a lower price, they can offer low selling prices. It can only happen due to the higher production experience. So, <em>"B"</em> is the right choice.

5 0
3 years ago
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