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bearhunter [10]
3 years ago
13

What type of accounting is more rules-based?

Business
1 answer:
Stella [2.4K]3 years ago
7 0

GAAP

Explanation:

That would be the Generally Accepted Accounting Principles (GAAP) system which is rules based.

Alternatively:

The International Financial Reporting Standards. (IFRS) on the otherhand would be the one thats principles based.

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One implication of the bird-in-the-hand theory of dividends is that a given reduction in dividend yield must be offset by a more
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A publisher reports that 64% of their readers own a laptop. A marketing executive wants to test the claim that the percentage is
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3 years ago
The Gorman Group issued $970,000 of 13% bonds on June 30, 2021, for $1,042,973. The bonds were dated on June 30 and mature on Ju
omeli [17]

Answer:

Entries are given below

Explanation:

Cash should be recorded as an asset on the issuance of bonds and bonds should be credited as it is a liability for the company. Interest expense should be debited on a semiannual basis

June 30, 2021 ( issuance of bonds)

                                                          DEBIT          CREDIT

Cash                                                 1,042,973

Bonds payable                                                     970,000

Premium on bonds payable                                 72,973

December 31, 2021 ( interest expense)

                                                            DEBIT          CREDIT

Interest Expense                               62,578

(1,042,973 x 12% x 6/12)

Premium on bonds payable               472    

Cash                                                                          63,050

(970,000 x 13% x 6/12)

June 30, 2022 (interest expense)

                                                           DEBIT            CREDIT

Interest Expense                               62,550

(1,042,973-472) x 12% x 6/12)

Premium on bonds payable               500    

Cash                                                                             63,050

(970,000 x 13% x 6/12)

5 0
4 years ago
Arron, the CEO of a multinational corporation, believes that effective control in an organization comes from each employee's int
Nataly [62]

Answer:

Arron,the CEO of a multinational corporation believes that effective control in an organisation comes from each employee's internal motivation rather than from authoritarian control from top levels of management.In this scenario.Arron's beliefs are most consistent with <u>Human relations movement.</u>

<u>Explanation:</u> Human relations movement study the behavior of people.This movement originated from Dr .Elton Mayo's Hawthorne studies. According to this movement personal growth and development as well as goal setting for employees is essential for making business successful.

The organisations which overlook personal interest of employees cannot become successful. Hawthorne says that we can motivate the employees more by placing them in a team.

The employees of every organisation must communicate and convey information.They must understand the emotions of other employees.It will help in resolving various conflicts and arrive at the solutions quickly without wasting the time. It will improve relationships.

So human relation movement plays a very optimistic role in the success of a concern because an organisation's real assets are it's human resources.Without work force an organisation stands nowhere.

3 0
4 years ago
Which of the following is not the process of financial management? A Evaluating financial status B Setting goals C Record monthl
Phantasy [73]

Answer:

C) Record monthly expenses

Explanation:

4 0
3 years ago
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