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Ugo [173]
3 years ago
12

Why do they say Accounting Equation is the basis for the preparation of statement of financial position in accordance to IFRS fi

nancial statement presentation ?​
Business
1 answer:
Luda [366]3 years ago
3 0

Answer:

The Statement of Financial Position (SFP) or Balance Sheet, shows the assets of the company on one side and then the way the funding that enabled these assets to be acquired on the other.

This is the basis of the Accounting equation which is:

Assets = Equity + Liability

One one side of the (SFP), you have the assets shown. These assets are added up to find the Net Total Assets.

The other side of the (SFP) will have the Equity and the liabilities listed. These are then added up too and they are to be equivalent to the amount of Assets.

This would therefore prove the equation that when you add up Equity and Liabilities, you get Assets.

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Your boss, Kerry Miller, has asked you to analyze the soft drink industry using Porter's five forces model. Which of the followi
IgorC [24]

Answer:<em> Option (A) is correct.</em>

Vitamin water, juice, coffee are other beverage options available to consumers are the one that can represent substitute products in the soft drink industry.

The five forces can be referred to as a model for business analysis that helps to elaborate on why different industries in a certain market are able to endure different levels of profitability. These forces are often used to evaluate competition depth, appeal, and profitability of the market.

4 0
3 years ago
The definition of internal control developed by the Committee of Sponsoring Organizations (COSO) includes controls related to th
xxMikexx [17]

Answer:

The correct answer is Option D.

Explanation:

Internal control comprises the whole system of financial and other controls established and operating within a business, including internal check, internal audit and all other forms of control.

Based on Committee of Sponsoring Organizations (COSO) framework, there are 5 interrelated components of internal control, which are: Control environment, Risk assessment, Control activities, Information and communication and Monitoring.

It is necessary to stress that internal control relates to all forms of controls within an organization and not necessarily limited to only accounting matters e.g., a security check on vehicles exiting business premises to be sure they are not carrying stolen items from the organization is an internal control but not an accounting-related.

7 0
3 years ago
Assuming a 360-day year, proceeds of $48,750 were received from discounting a $50,000, 90-day note at a bank. The discount rate
PIT_PIT [208]

Answer:

the discount rate should be 10%

Explanation:

The computation of the discount rate should be given below:

The Amount of discount is is

= $50,000 - $48,750

= $ 1,250

The $1,250 should be for 90 days.

So for 360 days, it should be

= $1,250 × 4

= $5,000.

And, the discount rate is

= $5,000 ÷ 50,000 × 100

= 10%

Hence, the discount rate should be 10%

3 0
3 years ago
What kind of consumer is a human in the food chain??
djyliett [7]
Predator, because thats pretty much all we do.
7 0
3 years ago
The quantity of money demanded is the Group of answer choices income and volume of profits that people and businesses would like
Ksju [112]

Answer:

The amount that people and businesses choose to hold.

Explanation:

The amount that people and businesses choose to hold.

The total demand for money is the total amount of money that people wants to hold and there are three main reasons for which money is being held. First is transactions related reason, second is the precautionary reason, and third is the speculative reason. The above three reasons push the people to hold the money that becomes the total demand for money.

6 0
3 years ago
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