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horsena [70]
3 years ago
14

Alan, an accountant in a law firm, is summarizing his company’s expenses and revenue in the form of an income statement. However

, he has been told that the statement is being prepared for the business’s internal audience alone, that is, the firm’s management authorities. Which title should Alan give the income statement?
A.

statement of earnings

B.

statement of profits

C.

profit and loss account

D.

statement of incom
Business
2 answers:
Sergio [31]3 years ago
6 0

Answer:

Statement of Earnings

Explanation:

I took the quiz

MariettaO [177]3 years ago
5 0

Answer:

profit and loss account

Explanation:

A profit and loss account  is a financial statement that summarizes the revenues, costs, and expenses incurred by a firm over a given period of time. It is an internal company document that  provide information about how a company was able to generate profit by increasing revenue, reducing costs, or both.

Hence, the title that Alan should give to his document is "Profit and Loss Account"

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You are considering purchasing a car, and you are offered a loan with a nominal interest rate of 5 %. Assume inflation is expect
Gnoma [55]

The real interest rate is;

Real interest rate = nominal interest rate - inflation

<h3>What is inflation?</h3>

The rate at which prices increase over a specific time period is known as inflation. Inflation is often measured in broad terms, such as the general rise in prices or the rise in a nation's cost of living.

There are three main causes of inflation:

  • demand-pull inflation: Demand-pull inflation, which economists define as "too many dollars chasing too few things," is the increasing pressure on prices that accompanies a scarcity in supply.
  • cost-push inflation: When the cost of labor and raw materials rise, the overall price level will rise (inflation).
  • built-in inflation: As employees anticipate an increase in compensation when the cost of products and services rises in order to maintain their standard of living, this is known as built-in inflation.
<h3>What is real interest rate?</h3>

A real interest rate reflects the rate at which current things are preferred over future goods over time.

The difference between the nominal interest rate and the inflation rate is used to calculate the real interest rate for an investment.

Real interest rate = nominal interest rate - rate of inflation (expected or actual).

To know more about the inflation, here

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7 0
2 years ago
Deliverables:______.
goldenfox [79]

Deliverables: option c. are the products or services output during the life of the project.

<h3>What is the meaning of the deliverables of a project?</h3>

A deliverable is known to be an attribute of output found inside the scope of a project.

It is seen as the outcome of objective-focused work completed within the project functions. Deliverables in project management can be known to be internal or external.

Hence,  Deliverables: option c. are the products or services output during the life of the project.

Learn more about Deliverables from

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4 0
2 years ago
A sole proprietorship that began business's May 1, 2018, incurred $9000 of startup expenses. If the business elects to report th
labwork [276]

Answer:

Option (C) $178

Explanation:

Data provided in the question:

Startup expense incurred by the business = $9,000

Now,

The start-up costs and organizational expenses are deducted over a time period of 180 months

also,

$5,000 can be deducted in the first year by the startup expense.

Therefore,

Amortization amount reported as a "other expense" on Schedule C per month

= [ Startup expense - $5,000 ] ÷ 180

= [ $9,000 - $5,000 ] ÷180 = $22.22

for the year = $22.22 × Number of months left in the year from May

= $22.22 × 8

= 177.78 ≈ $178

Hence,

Option (C) $178

3 0
3 years ago
Consumed to fuel day to day expenditure
olga55 [171]

Energy Expenditure can be expressed as a gross or net term. The total amount of energy expended for a specific activity including the resting energy expenditure. Gross energy expenditure is typically used for between person comparisons. Hope it helps

5 0
3 years ago
Identify whether each of the following examples belongs in M1 or M2. If an example belongs in both, be sure to check both boxes.
Sergio [31]

Answer:

M2

M1 M2

M2

Explanation:

7 0
3 years ago
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