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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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n computing the current period's manufacturing cost per equivalent unit, the FIFO method of process costing considers: (CPA adap
kykrilka [37]

Answer:

C. current period costs less cost of beginning work-in-process inventory

Explanation:

While calculating the current period manufacturing under FIFO method the cost of beginning work in process will be deducted as was incurred in previous period, for the current period only the current period cost will be considered.

Though the FIFO method is based on first in first out principle where opening inventory will be sold first, but the cost incurred earlier in previous period will not be considered.

Correct statement is C

3 0
3 years ago
Using the example of your university, give examples of information systems for each of the three levels of scope (workgroup, ent
Alex73 [517]

Answer:

Three levels of information systems at university include:

1. The students ICT unit (workgroup)

2. The departmental ICT units (enterprise)

3. The examination and records unit (inter enterprise)

Explanation:

The students ICT units and lab works together by communicating with one another in terms of file transfer, content chat systems and temporal record I keeping and processing.

The departmental information system operates at the higher level as an enterprise because at this stage the users at the work stations can no longer have full access to the platform because it is redefined to accommodate academic and non academic staff who are very useful in managing the data content, as well as keeping the security of these content intact against any form of security threats.

The examination and records unit on the final and higher level is the home server for all information systems security, backup and archive and the communication level regarded as the inter enterprise units. It is the final resort point when every other means of information and record keeping becomes threatened. Hence it is seen as the collation, record keeping and transfer point between one enterprise or department to the other.

7 0
4 years ago
Sean, age 37, wants to maximize his 2021 Roth IRA contribution and purchase as much Beyond Meat stock as possible. If BYND stock
blsea [12.9K]
37 shares that he can purchase
7 0
3 years ago
A profit-maximizing firm operates in purely competitive product and resource markets, with the following resource and production
andrew11 [14]

Answer:

b) 5

Explanation:

W TP MP MRP

1 100  

2 190 90 900

3 270 80 800

4 340 70 700

5 400 60 600

6 450 50 500

7 490 40 400

8 520 30 300

the marginal product of n labor = (total product of n labor - the total product of p labor)/(n-p)............(n>p)

Marginal revenue product = marginal product*price

the firm employ input up to marginal revenue product equal to the wage

MRP = wage or closest lower wage

where W = 5

the firm will higher 5 workers.

7 0
3 years ago
Read 2 more answers
Exercise Bicycle Company is expected to pay a dividend in year 1 of $1.20, a dividend in year 2 of $1.50, and a dividend in year
prisoha [69]

Answer:

E.  $40.68

Explanation:

The computation of the stock worth today is shown below:

= (Dividend in year 1 ÷ 1 + required rate of return^number of years ) + (Dividend in year 2 ÷ 1 + required rate of return^number of years) + (Dividend in year 3 ÷ 1 + required rate of return^number of years)  + (Dividend in year 3 ÷ 1 + required rate of return^number of years) × (1 + growth rate) ÷ (required rate of return - growth rate)

= $1.2 ÷ 1.14 + $1.5 ÷ 1.14^2 + $2 ÷ 1.14^3 + $2 ÷ 1.14^3 × (1 + 10%) ÷ (14%-10%)

= $40.68

We simply applied the above formula

3 0
3 years ago
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