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Alenkasestr [34]
3 years ago
13

Amy, who has been an accountant for 12 years, worked for Arnold and Post, a mid-size law firm in Huntsville. At the end of each

fiscal year, Amy prepares an annual report for the firm's board of directors. The report includes all of the details found in the firm's financial statements. Amy makes sure that the dates on the financial statements are consistent and consecutive from one year to the next.
Amy is practicing the ___________ principle.
Business
1 answer:
mel-nik [20]3 years ago
3 0

Answer:

time period

Explanation:

In accounting, the time period principle states that a firm must report its financial statements for specific periods of time. For example, the Securities and exchange Commission (SEC) requires public corporations to submit their financial reports every quarter. This is done in order for accounting periods to be comparable, e.g. comparing a quarterly report vs an annual report is not correct.

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The manager of a 100-unit apartment complex knows from experience that all units will be occupied if the rent is $900 per month.
Aliun [14]

Answer:

$950 in order to maximize the revenue.

Explanation:

The computation of monthly rent in order to maximize revenue is shown below:-

R (x) = Rent price per unit × Number of units rented

= ($900 + $10 x) × (100 - x)

= $90,000 - 900 x + 1000 x - 10 x^2

R (x) = -10 x^2 + 100 x + $90,000

Here to maximize R (x), we will find derivative and equal it to zero

R1 (x) = -20 x + 100 = 0

20 x = 100

x = 5

Therefore the monthly rent is p(5) = $900 + 10(5)

= $900 + 50

= $950 in order to maximize the revenue.

3 0
3 years ago
Department E had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $12,500. Of
JulijaS [17]

Answer:

Equivalent unit of conversion = Unit completed and transferred out+Ending WIP*Percent completion

= 15000+(3000*75%)

Equivalent unit of conversion = 17250

Total cost of conversion cost = 4500+32450+18710 = 55660

Cost per equivalent unit of conversion Cost = Total Cost/Equivalent unit = 55660/17250 = 3.23

6 0
2 years ago
The following is TRUE about Inventory:________.A. Firms decrease inventory because there is a risk of significant and unpredicta
Aleks [24]

Answer:

The correct answer is option (c).

Explanation:

Solution

From the question sated above the answer is, Firms or organisation decrease inventory because the more we spend on inventory, the more we will need to spend on the other related inventory expenditures.

The reason is because if the inventory is kept full or complete, then the cost related or connected with the maintenance of the inventory increases or goes up and it is not beneficial for the company itself.

7 0
3 years ago
In the lesson, you learned about Dave and his bakery. It was mentioned that “in one hour of work, Dave can make either 60 donuts
MAXImum [283]
B. customers prefer donuts.
5 0
3 years ago
An engineer wishes to have $3 million by the time he retires in 35 years. Assuming 8% nominal interest, compounded continuously,
Genrish500 [490]

Answer:

annual sum must he set aside $16209.42

Explanation:

given data

engineer wishes = $3 million

retires time = 35 years

nominal interest = 8%

solution

we get here effective annual rate that is

interest rate  = e^{r} - 1  ...........1

interest rate  = e^{0.08} - 1

interest rate  = 0.08328 = 8.33%

and

now we get annual sum must he set aside that is

amount = $3 million × \frac{rate}{(1+rate)^{t}-1}

amount = $3000000 × \frac{0.0832}{(1+0.0832)^{35}-1}

amount = $16209.42

5 0
3 years ago
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