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2 years ago

Reviewing and evaluating records used to prepare a company's financial statements is referred to as ______.

Business

1 answer:

MaRussiya [10]2 years ago

3 0

Answer:

Auditing

Explanation:

Auditing means the audits of the financial statement or the objective examination and the financial statement of the company could be evaluated. It is performed by the third party i.e. auditor. It can be performed by the internal parties and government entity like the internal revenue service

So the review and evaluation of the financial records is called as the auditing

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Many small firms seek to establish a particular niche in the market, realizing that they cannot afford to operate on a larger sc

nadya68 [22]

Answer:

<u>fostering competition</u>

Explanation:

By deciding to focus on a particular niche these smaller firms in effect foster competitions among other larger firms.

For example, if in a market for shoes, a small firm A, that is newly established decides to focus only on selling shoes for children after recognizing they cannot match up with an existing larger company B that sells a variety of shoes (both children and adult shoes). At a point in time when a number of small businesses are operating in this manner, the larger companies would recognize and account for their influence on the market.

3 0

2 years ago

Jimmy establishes a Roth IRA at age 47 and contributes a total of $89,600 over 18 years. The account is now worth $112,000. Assu

ValentinkaMS [17]

Answer: $112,000

Explanation:

Jimmy is able to withdraw the entire $112,000 tax-free.

This is because to be able to Withdraw tax-free, one must have deposited money in the IRA for a minimum of 5 years and the person must be at least 59.5 years of age.

Those 2 criteria are met by Jimmy who deposited for 18 years and is now aged 65.

4 0

3 years ago

What is the value today of receiving $5,000 at the end of six years, assuming an interest rate of 8% compounded semiannually?

Ulleksa [173]

Answer:

$3,122.96

Explanation:

Future value = 5000

i = 8%

n = 6

m = 2

Present Value = FV(1+i/m)^mn

Present Value = 5,000(1+0.08/2)^-2*6

Present Value = 5,000(1.04)^-12

Present Value = 5,000 / (1.04)^12

Present Value = 5,000 / 1.6010322

Present Value = 3122.985284118583

Present Value = $3,122.96

6 0

3 years ago

This type of budgeting technique is commonly used because it provides a budget that is tied directly to the company's strategy a

mixer [17]

Answer:

Objective and task.

Explanation:

A budget is a financial plan used for the estimation of revenue and expenditures of an individual, organization or government for a specified period of time, often one year. Budgets are usually compiled, analyzed and re-evaluated on periodic basis. The benefits of having a budget is that it aids in setting goals, earmarking revenues and resources, measuring outcomes and planning against contingencies.

The budgeting method described in the question is called objective and task. It is typically used by various organizations or companies due to the fact that, it's tied directly to the strategy and tactics of a company on an annual basis. Also, it is used to set a budget for marketing efforts while anticipating on informations about the company.

8 0

2 years ago

Excerpts from Dowling Company's December 31, 2018 and 2017, financial statements and key ratios are presented below (all numbers

Rus_ich [418]

Answer:

Option (A) is correct.

Explanation:

Given that,

2018:

Accounts receivable (net) = $20

Net sales = $115

Cost of goods sold = $60

Net income = $20

Inventory turnover = 5.22

Return on equity = Return on assets × Equity multiple

= 10.3% × 2.36

= 24.308% or 24.3%

Therefore, Dowling's return on equity for 2018 is 24.3%.

5 0

3 years ago