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vovikov84 [41]
3 years ago
8

Identify the framework for the entire accounting process and describe its components and how they fit together to form this fram

ework.
Business
2 answers:
jeka57 [31]3 years ago
5 0
 Accounting<span> is the </span>process<span> of constructing and maintaining financials. </span><span>
The framework for the entire accounting process is referred to as</span> definitional framework. The framework<span> provides a categorized structure that classifies the basic elements in </span>accounting. The accounting equality shows that the assets of a business are equal to its equities. This means that Assets = Equities.  Assets were defined earlier as the things of value owned by the business, or the economic resources of <span>the business. </span>
lawyer [7]3 years ago
4 0
<span>The entire accounting framework is derived from the accounting equation. Accounting equation is derived from the formula in which Assets equals the summation of Liabilities and capital. Assets consist of tangible and intangible assets. Liabilities can be short term or long term in nature. Also it can be secured or unsecured. Capital refers to the investments made the owner of the company.</span>
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A shop sells 20 hats per week at $10 each. When it increases the price to $12, the number of hats sold falls to 15 per week. We
kipiarov [429]

Answer:

Estimated as Elastic Demand

Explanation:

Elastic demand is where a change in price causes a significant change in demand, therefore 20 hats to 15 hats can be considered significant and we can conclude that it's elastic demand.

7 0
2 years ago
Which of the following is an example of a price floor​? A. Safeway charges​ $1 more than Fred Meyer charges for a 5 pound bag of
Snowcat [4.5K]

Answer:

C. The government guarantees that potato farmers will receive at least​ $50 a ton.

Explanation:

Price floor is implemented by the government or a group where price control is imposed or limit is placed on how low a price a product can be sold.

For price floor to be effective it must be higher than the equillibrum price.

Equillibrum price is the price at which quantity consumers are willing to pay for is equal to quantity suppliers re willing to sell.

Price floors are usually used to keep commodity prices from going too low.

So if the government guarantees farmers will receive at least $50 per ton of potato, they are setting a price floor of $50.

4 0
3 years ago
Zirconia Fantasy sells only necklaces. 8 comma 000 units were sold resulting in $ 240 comma 000 of sales​ revenue, $ 60 comma 00
Naya [18.7K]

Answer:

$66,667

Explanation:

Contribution margin = Sales Revenue - Variable cost = 240000-60000 = 180000

Percentage of contribution margin = Contribution margin / sales revenue = 180000 / 240000 = 75%

Breakevent point in total sales = Fixed costs / Percentage of contribution margin

= 50000/0.75 = $66,667

3 0
3 years ago
When the body senses warmer temperatures, what happens to the blood vessels?
Molodets [167]

Answer:

When we get too hot, sweat glands in the skin release more sweat. The sweat evaporates, transferring heat energy from the skin to the environment. 

7 0
2 years ago
Read 2 more answers
. Jeff works as a computer repair technician. He has money in a savings account and he owns some stock. What types of income doe
Alex17521 [72]
I think the correct answer from the choices listed above is the last option. H<span>e earns a salary from his work, interest on his savings account, and dividends on his stock holdings. Hope this answers the question. Have a nice day.</span>
5 0
3 years ago
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