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3 years ago

Presented below are four statements which you are to identify as true or false. If false, explain why the statement is false.

Business

1 answer:

Zinaida [17]3 years ago

8 0

Answer and Explanation:

1. The first statement is true

2. The second statement is false as the company that claims the compliances would comply with the standard, interpretations and the disclosure requirements

3. The third statement is true

4. The fourth statement is false as for creating a standard there si two basic premises i.e.

a. It should be responsive to the needs and the viewpoints with respected to the overall economic community

b. It should be operated in complete public view

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Assume a companys income statefor year 9 is as follows:

Fofino [41]

Answer:

14.91 and 24.77%

Explanation:

The computation of the company interest coverage ratio is shown below:-

Interest coverage ratio = Earning before interest and tax ÷ Interest

= $161,000 ÷ $10,800

= 14.91

Operating profit margin = (Earning before interest and tax ÷ Revenue) × 100

= $161,000 ÷ $650,000 × 100

= 24.77%

Therefore we have applied the above formula and hence option is not available.

6 0

3 years ago

Quentin operates an ice cream franchise that has shops throughout the United States. CoolCream Co., the franchisor, supplies the

denpristay [2]

Answer:

The correct answer is D

Explanation:

Arrangement of manufacturing or processing-plant is the one which defines the relationship where the franchisor transmits or shifts to the franchisee for the essential ingredients or for the specifications in order to make the specific product. And then the franchisee will market at the retail or wholesale level as per the standards of the franchisor.

So, in this situation, the franchisor supplies the essential ingredients of the franchisee for his store and then the franchisee sold to customers the ice cream. Therefore, this relationship is regarded as manufacturing or processing-plant arrangement.

6 0

3 years ago

A sales tax of $1 per unit of output is placed on one firm whose current equilibrium price is $5 and current equilibrium quantit

Brums [2.3K]

Answer:

Explanation:

B is the correct answer

3 0

3 years ago

The following standards for variable manufacturing overhead have been established for a company that makes only one product:

pantera1 [17]

Answer:

c $4,450 U

Explanation:

The computation of the Variable overhead spending variance is shown below:

= (Standard variable overhead Rate × Actual Hour) - (Actual Rate × Actual Hour)

= ($12 × 400 units × 5.6 hours) - ($31,330)

= $26,880 - $31,330

= $4,450 Unfavorable

The (Actual Rate × Actual Hour) is also called as Actual variable overhead.

All other information which is given is not relevant. Hence, ignored it

3 0

3 years ago

Suppose banks keep no excess reserves and that all banks are currently meeting the reserve requirement. The Federal Reserve then

ANTONII [103]

Answer:

1. Assets is debited for $10,000 as loans.

2. Liabilities is credited for $10,000 as deposits.

Explanation:

Note: This question is not complete as the amount is omitted. The complete question is therefore presented before answering the question as follows:

Suppose banks keep no excess reserves and that all banks are currently meeting the reserve requirement. The Federal Reserve then makes an open market purchase of $10000 from Bank 1.

Use the T-account below to show the result of this transaction for Bank 1, assuming Bank 1 keeps no excess reserves after the transaction.

The explanation of the answer is now given as follows:

Note: See the attached photo for Bank 1's T-Account.

In the attached photo, we can see that:

1. Assets is debited for $10,000 as loans.

2. Liabilities is credited for $10,000 as deposits.

6 0

3 years ago