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Lemur [1.5K]
2 years ago
11

Identify which basic assumption of accounting is best described in each/some item(s) presented below:a) The economic activities

of FedEx Corporation are divided into 12-month periods for the purpose of issuing annual reports.b) Solectron Corporation, Inc. does not adjust amounts in its financial statements for the effect of inflation.c) Walgreen Co. reports current and non-current classifications in its balance sheet.d) The economic activities of General Electric and its subsidiaries are merged for accounting and reporting purposes.
Business
1 answer:
masya89 [10]2 years ago
8 0

Answer:

a) The economic activities of FedEx Corporation are divided into 12-month periods for the purpose of issuing annual reports.

Periodicity principle: companies have to report their financial statements and operations over standard periods of time.

b) Solectron Corporation, Inc. does not adjust amounts in its financial statements for the effect of inflation.

Monetary unit: companies have to report their financial statements in a unit of valid currency.

c) Walgreen Co. reports current and non-current classifications in its balance sheet.

Going concern: companies are expected to continue operating in the future.

d) The economic activities of General Electric and its subsidiaries are merged for accounting and reporting purposes.

Economic entity: companies must report the transactions that involve them and their subsidiaries, but not the transactions that involve their owners or other companies.  

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Answer:

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Explanation:

For business success it is important to use a combination of qualitative and quantitative methods.

Quantitative methods involves getting insight from data by using formulas, models and other mathematical methods to draw conclusions. Facts and logic is used to make business decisions.

Qualitative methods involve insights that is not based on mathematical methods, for example finding out what motivates consumer spending. It uses tools such as surveys and interviews.

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3 years ago
The Wet Corp. has an investment project that will reduce expenses by $25,000 per year for three years. The project's cost is $55
posledela

Answer:

$22,671

Explanation:

The calculation of the cash flow for the year one is as follows:

Given amount                                    $25,000

Less: Depreciation                            -$18,150

Earning before income and taxes    $6,850

Less: Income tax expense                -$2,329     ($6,850 × 34%)

Earning after taxes                            $4,521

Add: Depreciation expense              $18,150

Annual cash flow                               $22,671

The depreciation expense is computed below:

= $55,000 × 33%

= $18,150

3 0
2 years ago
What is the purpose of a thesis?
Marrrta [24]

Answer:

C. It states what your paper will prove

Explanation:

Sorry if it wrong

8 0
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You have just taken out a $ 25 comma 000 car loan with a 6 % ​APR, compounded monthly. The loan is for five years. When you make
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Answer:

You question is missing some data.so i am adding a sample question matching the above conditions.i hope it will help.

You have just taken out a $15,000 car loan with a 8% APR compounded monthly. The loan is for five years. When you make your first payment in one month, how much of the payment will go toward the principal of the loan and how much will go towards the interest? (Dont round intermediate steps to six decimal places)

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Please find attached file for complete answer solution and explanation of same question.

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Answer:

Letter b is correct.<em> A monopolistically competitive firm faces competition from firms producing close substitutes.</em>

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