A broad principle that requires identifying the activities of a business with specific time periods such as months, quarters, or years is the <u>Time period principle.</u>
The time period principle- Financial results and other material business activities should be reported over a consistent time period, such as a month, week, day, etc., in accordance with the time period concept. Depending on the frequency of the chosen time period, the firm must then adhere to a distinct set of regulations for each financial statement in accordance with US Generally Accepted Accounting Principles.
Any company's financial statements can be thought of as a snapshot in time that reveals both the company's history and its current status. That's why it's crucial to disclose to readers the time frame in which the financial statements were generated in accordance with the time period concept.
In its broadest sense, the time period principle holds that any enterprise may conveniently categorize its financial operations into discrete time intervals. That is to say, all cash inflows and outflows may be neatly categorised into separate and sequential accounting periods.
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Answer:
Increase
fall
Explanation:
A recession occurs when the gross domestic product of a country for two consecutive quarters is negative.
Annually balanced budget is a budget where at the end of every year, revenue must equal expenditure.
If in a recession, a government is under pressure to maintain a balanced budget, the government would need to increase taxes. this is because income would be less than government expenditure as a result of the recession. In order to maintain a balanced budget, the government can either increases taxes are reduce expenditure.
When taxes are increased, disposable income falls and this causes aggregate demand to fall
Answer:
Intervene to protect the nature and the environment: government has to play an active role in preserving the nature from the industrial activities.
Protection of consumers and customers from malicious business activities.
Establishing a proper legal framework for the enterprises to operate under a healthy competition.
Establishing required antitrust laws to prevent unjust monopolies from taking over industries.
To enact labour laws and necessary regulations to regulate the labour market.
Explanation:
Answer:
It provides career opportunities and plans for individuals, which helps retention and performance.
Explanation:
Given that succession planning is the planning technique that involves the turning over of a firm's leadership roles, which is usually the owner of a firm or business to one or more employees such that the businesses keep running smoothly even after the firm's pioneers have long gone.
Some of the factors to consider when developing succession plans are
1. Internal candidates.
2. Candidate development.
3. Multiple candidates.
4. Diversity.
5. Team approach.
6. Middle management of the firm
7. Retention
Hence, the true statement about succession planning is that "it provides career opportunities and plans for individuals, which helps retention and performance."
Answer:
C (limit order; stop order; market order)
Explanation:
Firstly the order will be called limit order as price has a minimum limit. Second will be stop order, like if market is offering less price then we can stop until the market reaches to the point where price is more fair or more acceptable. Then that order will become market order.
