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Naya [18.7K]
3 years ago
13

Interim financial statements: Multiple Choice Are required by the Congress. Are necessary to achieve full disclosure about a bus

iness's operations. Are statements prepared for periods of less than one year. Require the use of the perpetual method for inventories. Cannot be prepared if the company follows the conservatism principle.
Business
1 answer:
GaryK [48]3 years ago
5 0

Answer:

Are statements prepared for periods of less than one year.

Explanation:

Interim Financial Statements

This is simply known as a financial statements prepared for a timeframe (period) that is part of the entity's annual fiscal period. discontinued operations and extraordinary items that occur at midyear initially are often reported  in net income and open up in the notes to interim financial statements.The fundamental principle guarding interim reporting is that

interim reports must be considered as a part of the integral of the annual reporting period.

An interim statement as a financial report timeframe is often less than one year. It often shows an organisation's performance before the end of normal full-year financial reporting cycles and often, this statements do not need to be audited.

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Which one of the following is not a right of common stockholders?a) To share proportionately in all management decisions.b) To s
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Answer: Option A

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They have the right to select the auditor and board of directors but they cannot interfere with the management decisions. This right stands in the domain of the top managers which are appointed by these shareholders.

Thus, we can conclude that the correct option is A .

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In case of an emergency, once you or someone already on the scene has contacted 9-1-1, the next thing to do is: A) Move them to
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D check for a heartbeat
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Overbooking is a common practice in the hospitality industry. What are the pros and cons of overbooking? Is overbooking ethical?
Korolek [52]
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The purposeful and deliberate act of overbooking runs counter to any acceptable standard of ethical business practice. In addition to the practice being ripe with serious legal, contractual and consumer protection violations, overbooking forces hospitality personnel into making conscious immoral and unethical choices.
8 0
3 years ago
Scenario D: Theo, Diana, and Teddy, who work for different organizations, are comparing the diversity makeup of their respective
Marrrta [24]

Answer:

"B"

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Monolithic organization is an organization that forcefully incorporate all employees into a particular culture being practiced. It can be a very large organization but lack flexibility and its rate of reaction to changes can be very slow.

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This description fits into the situation at Teddy's place of work

3 0
3 years ago
On April 1, 2016, the KB Toy Company purchased equipment to be used in its manufacturing process. The equipment cost $57,200, ha
Harman [31]

Answer:

2016 Depreciation

Dr depreciation expense $5720

Cr Accumulated depreciation               $5720

2017 Depreciation

Dr depreciation expense $5720

Cr Accumulated depreciation               $5720

Journal entries for 2018 expenditure

Dr repairs and maintenance   $2900

Dr Equipment account             $11850

Cr Cash account                                          $14750

2018 Depreciation

Dr depreciation expense          $4800.83

Cr Accumulated depreciation                     $4800.83

Explanation:

There are two policies for depreciating non-current asset  especially when it is acquired part-way through the year like we have here, namely full year depreciation in the year of purchase and none in the year of disposal or proportional depreciation throughout the useful life,I am adopting the former in this question.

Formula for depreciation=cost-residual value/useful life

Yearly depreciation is ($57200-$0)/10=$5720

However,after two years the book value is calculated thus:

Book value=$57200-($5720*2)=$45760

additional cost incurred in enhancing the capacity of the asset would be added :  $45760 +$11,850=$57610

Since the useful life has also been reviewed up to 12 years, the depreciation from now on is $57610/12=$4800.83

5 0
3 years ago
Read 2 more answers
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