The answer is a.True
The cost of the fixed asset is already excluded from the net income. In this case, the rate of return can be computed by the total net income divided by the cost of the fixed asset. So that would be $200,000/$400,000. The rate of return would be 50%
Answer:
1. Standards
2. Audit and Attest Standards
3. Generally Accepted Accounting Principles (GAAP)
4. Shareholders
Explanation:
1. Financial statements are required to be audited and should be in accordance with all applicable standards followed in the country.
2. AICPA issues, develops and enforces different standards (example code of professional conduct and consulting services standard). Auditing standards board of AICPA pronouncements are also known as Audit and Attest Standards.
3. The standards which are followed in the United States is GAAP Generally Accepted Accounting Principles. It’s a rule based accounting principle which is enforceable in the United States.
4. Audit report is required to be addressed to the Board of Directors and the company shareholders.
Answer:
behavioral approach to the study of leadership
Explanation:
In simple words, The behavioral approach is only concerned with what managers do and what they behave. The behavioral approach broadened the science of leadership to encompass the activities of leaders toward followers in diverse settings by moving the study of leadership to leader behaviors. Monitoring and analyzing a leader's movements and behaviors in response to a given circumstance is central to behavioral leadership theory.
Explanation:
The purpose of preparing a Bank Reconciliation Statement is to detect any discrepancies between the accounting records of the entity and the bank besides those due to normal timing differences. Such discrepancies might exist due to an error on the part of the company or the bank.
To get the interest after 5 years, use the formula for simple interest which is I = Prt.
Where the meaning of the variables are:
I = interest
P = principal
r = interest rate
t = time
So in the problem,
P = $4,000
r = 0.06 or 6/100 or 6% (but is usually expressed in decimal form)
t = 5 years
Plug those in the formula.
I = Prt= ($4,000) (0.06) (5 years)
= (240) (5)
= $1,200
After 5 years, Alfred will get $1,200 if he invest the $4,000 at 6 percent.