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EastWind [94]
3 years ago
7

Current liabilities are normally recorded at the amount expected to be paid rather than at their present value. This practice ca

n be supported by GAAP according to the concept of:
Business
1 answer:
lianna [129]3 years ago
8 0

Answer: Materiality

Explanation:

The concept of materiality states that one can ignore an accounting standard in cases whereby the net impact felt has a little effect on the financial statement of the company.

Current liabilities are normally recorded at the amount expected to be paid rather than at their present value. This practice can be supported by GAAP according to the concept of materiality.

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B

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The company would like to initiate an intensive advertising campaign in one of the two market segments during the next month. Th
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4 0
4 years ago
A merchandiser has sales discounts forfeited of​ $600, cost of goods sold of​ $13,000, and other expenses of​ $4,100. The mercha
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Answer:

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Income summary A/c Dr. $17,100

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8 0
4 years ago
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PolarNik [594]

Answer:

D. Julia saves more in rent than she spends on commuting to work

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4 years ago
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