If a company spent that much on internet advertising and increased it by 17%, the new amount spent would be $12.87 million.
<h3>How much did the company spend on advertising?</h3>
The amount spent can be calculated as:
= Amount x ( 1 + increase in advertising)
Solving gives:
= 11 million x ( 1 + 17%)
= 11 x 1.17
= $12.87 million
Find out more on advertising expenses at brainly.com/question/24967768.
Answer:
1. GAAP is the term used to indicate the whole body of FASB authoritative literature. <u>TRUE</u>.
The Financial Accounting Standards Board are the authors of the GAAP and as such GAAP is used to indicate the whole body of their literature.
2. Any company claiming compliance with GAAP must comply with most standards and interpretations but does not have to follow the disclosure requirements. <u>FALSE. </u>
To claim compliance with GAAP, all standards and interpretations including Disclosure requirements should be followed.
3. The primary governmental body that has influence over the FASB is the SEC. <u>TRUE.</u>
The Securities and Exchange Commission (SEC) is the Government body that is meant to oversee the application of Accounting standards and as such, they have influence over the FASB.
4. The FASB has a government mandate and therefore does not have to follow due process in issuing a standard.<u> FALSE. </u>
Even though they have a Government mandate, the FASB must follow due process when establishing principles so that people might be able to contribute to or criticize the guidelines should they please.
Answer:
The correct answer is consumer- generating marketing,option B
Explanation:
Consumer-generating marketing is powerful marketing tool used in generating more sales in such a way that the products are marketed using existing customers' content such as product reviews and feedback to reach to more customers with aid of advancement in information technology.
Most companies have social media pages online, where they engage existing customers in order that new prospects can also be reached with least possible costs implication overall,in other words,customer acquisition cost is kept low.
Answer:
Depreciation expense for the year ended December 31, 2018 equals: $1,725
Explanation:
Orangewood uses straight-line depreciation, Depreciation Expense each year is calculated by following formula:
Depreciation Expense = (Cost of asset − Residual Value)/Useful Life
In Orangewood:
Cost of ash register is $7,500. The company plans to use the cash register for 4 years and then sell it for $600, therefore, Residual Value is $600 and Useful Life is 4 years.
Depreciation Expense each year = ($7,500-$600)/4 = $1,725
The cash register was bought on January 1, 2018. Depreciation expense for the year ended December 31, 2018 equals: $1,725
