1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
adell [148]
3 years ago
5

Under GASB guidance when should an item be recognized on the face of the financial statements? Under whatconditions, would the G

ASB indicate that a note disclosure should accompany an item that has been recognized on thefinancial statements?
Business
1 answer:
aleksandrvk [35]3 years ago
6 0

Answer:

If it satisfies the definition of an element and is also measurable with a high degree of reliability and accuracy

If there is a lack of clarity of any items found within the financial statement

Explanation:

According to the governing body the Governmental Accounting Standards Board, an item is only accepted in the face of a financial statement if it satisfies the characteristics of an element and must be measurable. The level of accuracy and reliability in these measures must also be high.  

When there is any item found in the financial statement that lacks clarity, it is important to tag the statement with a note disclosure stating what is not clear to you. If this is done, the user is able to understand each items in the statement.

You might be interested in
Mary's campaign consistently meets its average daily budget. what should she do to maximize her budget throughout the entire day
olganol [36]
The thing that Mary should do <span> to maximize her budget throughout the entire day is: Change the delivery method from "standard" to "accelerated"
By changing the delivery method into accelerated, mary's add will be displayed more frequently as soon as each day starts until mary's total budget is reached.</span>
7 0
3 years ago
__________ plans are pay-for-performance plans that put a small amount of base pay at risk, in exchange for the opportunity to e
Kryger [21]

Answer:

The correct answer to the following question will be "Variable Play Plan".

Explanation:

  • The variable pay is the part of the gross income dictated by the performance of the employee. If workers achieve their targets, discretionary pay is given as a form of promotion, bonus pay or fee. Basic salary, on the other hand, is set and compensated regardless of whether workers achieve their objectives.
  • It is the desired advantage of the company to captivate and keep employees. We want the chance to earn dynamic pay to strengthen their basic salary.

Therefore, the Variable Play Plan is the right answer.

6 0
4 years ago
What happens to the economy when the as curve shifts rightward?
GuDViN [60]
It means the country is producing more capital goods than the consumer goods.The economy of the country will rise along with the rise in capital goods
8 0
4 years ago
Tops Co. purchases equipment for $12,000 and has been using straight-line depreciation, estimating a 5-year life and $500 salvag
lisov135 [29]

Answer:

According to the straight-line depreciation, this number can be obtained by dividing the difference between an asset's cost and its expected salvage value.

<u>Depreciation</u> = Asset's Cost - Expected Salvage Value ÷ Expected Years of use

Explanation:

In the case of Tops Co., they purchase equipment for $12,000 - $500 of Salvage Value expected ÷ 5  Expected years of use

The estimated depreciation will be $2,300 for 5 years

At the beginning of the third year Tops Co. decided to use the equipment for 6 years and no salvage value.

The remaining purchase value will be $12,000 - $2,300 (x3) = $5,100

Apply again the formula described above and our answer will be:

The revised estimated depreciation is $1,700 for the remaining three years.

4 0
3 years ago
Read 2 more answers
In class, we considered various factors relevant to Porter's model of national competitive advantage. We considered the situatio
Rufina [12.5K]

Answer:

Factor Conditions

Explanation:

Factor Conditions -

This is the condition , which refers to the availability of human resources , the capital and the natural resources , are the factor condition .

The example for Natural resource , is Saudi Arabia , being extremely rich in oil , and is the largest exported of oil to various countries .

Human resources , refers to availability of knowledge and skilled labor .

According to porter , these factors need to be upgraded from time to time , to deal with the competition of the growing world .

3 0
4 years ago
Other questions:
  • When an investor decides to make an offer there are key factors to consider that help determine a price to offer. What is a rule
    14·1 answer
  • _____________ - a term referring to the fact that for many goods, as the level of production increases, the average cost of prod
    9·1 answer
  • What entry would blue make to record the sale of the machine for $30,250 cash?
    13·1 answer
  • Module 2 Assignment By using 2-dimension graphs (in MS WORD) for PRICE and QUANTITY, demonstrate the effect that each of the fol
    14·1 answer
  • 2. Richard has determined that he will need to have saved $60,000, in 10 years, for his daughter's
    8·1 answer
  • Which NIMS Management Characteristic follows established processes for gathering, analyzing, assessing, sharing, and managing da
    6·1 answer
  • Following are the transactions of Sustain Company. June1 T. James, owner, invested $11,000 cash in Sustain Company in exchange f
    15·1 answer
  • What does the phrase limited liability mean in a corporate context? (Select all the choices that apply.)
    12·1 answer
  • You can invest in an account that pays simple interest or an account that pays compound interest. In either case, you plan to in
    12·1 answer
  • On September 30, 2021, Bricker Enterprises purchased a machine for $212,000. The estimated service life is 10 years with a $21,0
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!