Accurate measurement is VERY important in banking because banking is all about exact calculations. If one balance measure is off, the entire bank report will not be acurate. One little mess up and the entire calculation goes wrong.
Answer: Materiality
Explanation: In simple words, materiality refers to the accounting concept which states that only those transaction should be recorded in the financial statements which are important to the stakeholders.
In other words, the transactions should be recorded in such a way that it gives some value to the stakeholders.
Therefore, in the given case, steve reported two expenditures in the fiancial statement as the amount is significant, thus,must be holding the value to stakeholders.
Hence the correct option is D.
Answer:
A. average total cost is rising.
Explanation:
Whenever marginal cost is more than average cost it means it costs more to produce a unit now compared to the average cost of the previous units. Lets assume that a company produces 3 units of a good.
The first unit costs $1
The second unit costs $2
The third unit costs $3.
The average cost is (1+2+3)/3=2
Now if the marginal cost for producing a unit is more than the average cost for example if the marginal cost is 4, then this will mean that average total cost is rising. we can mathematically check this.
The first unit costs $1
The second unit costs $2
The third unit costs $3.
The fourth unit costs $4
Average cost= (1+2+3+4)/4=10/4=2.5
Here we see that the average cost increased from 2 to 2.5 because marginal cost was greater than average cost.
The correct answer in the space provided is the total
quality management. The total quality management is where it is responsible for
causing an improvement in regards of improving the ability of an organization
or group in a way of delivering their services or products to their consumers.
