1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
olga nikolaevna [1]
3 years ago
14

Indicate whether the following statements about the conceptual framework are true or false. (a) The fundamental qualitative char

acteristics that make accounting information useful are relevance and verifiability. select an option (b) Relevant information only has predictive value, confirmatory value, or both. select an option (c) Information that is a faithful representation is characterized as having predictive or confirmatory value. select an option (d) Comparability pertains only to the reporting of information in a similar manner for different companies. select an option (e) Verifiability is solely an enhancing characteristic for faithful representation. select an option (f) In preparing financial reports, it is assumed that users of the reports have reasonable knowledge of business and economic activities. select an option
Business
1 answer:
Novosadov [1.4K]3 years ago
6 0

Answer:

True or False Statements about the conceptual framework:

(a) False: The fundamental qualitative characteristics that make accounting information useful are relevance and faithful representation, which suggest materiality and completeness respectively.

(b) False: Relevant information must also be material in a financial statement user's decision, in addition to having predictive and confirmatory values.

(c) False:  It is information that is relevant that is characterized as having predictive or confirmatory value, and not information that shows faithful representation.

(d) False: Comparability also refers to comparisons of a firm over time (which is appropriately described as consistency).  This is in addition to the similar reporting of information by different companies.

(e) False: Enhancing characteristics do not relate only to faithful representation but also to relevance.

(f) True.

Explanation:

Faithful representation implies completeness.  Relevance means that the disclosure will attract important consideration and is material to the matter.  Therefore, users of financial reports base their decisions on relevant information and not irrelevant details.

You might be interested in
Slow​ 'n Steady,​ Inc., has a stock price of $ 34​, will pay a dividend next year of $ 3.10​, and has expected dividend growth o
erica [24]

Answer:

10.92%

Explanation:

The formula and the computation of the estimated cost of equity capital is shown below:

Stock price = Next year dividend ÷ (cost of equity - expected dividend growth rate)

We assume the cost of equity be X

$34 = $3.10  ÷ (cost of equity - 1.8%)

$34 X - $34 × 1.8X = $3.10

After solving this,

The cost of equity would be 10.92%

3 0
3 years ago
The standard materials cost to produce one unit of product m is 6 pounds of material at a standard price of $50 per pound. in ma
Musya8 [376]
Direct material cost variance = (Standard price - Actual Price) * Actual Quantity
= ($50 - $51) * 47,000
= $47,000 adverse
5 0
3 years ago
Emmanuel would like to start a business with a popular fast food company. He agrees to pay a fee and royalties. This is an examp
adoni [48]
A franchise, option A.
4 0
3 years ago
__________ is an arrangement whereby someone with a good idea for a business sells the rights to use the business name and sell
ira [324]

Answer:

Franchise

Explanation:

This is a business arrangement where the owner of a successful business gives the right (through special business and legal arrangement) to another, to run such business in a specified location using his brand name in accordance with agreed terms and conditions. Under this arrangement, technical support and training are always provided by the franchiser.

The franchisor charges the franchisee a fee for the right which in most cases is periodic. The franchise is renewable.

7 0
3 years ago
A company incurred the following costs for a new delivery​ truck: Purchase price $ 150 comma 000 Sales tax 7 comma 900 Delivery
MrMuchimi

Answer:

$168,200

Explanation:

Given that,

Purchase price = $ 150,000

Sales tax = 7,900

Delivery charge from​ sellers location = 1,200

Special racks for storage = ​3,000

Normal repairs to the truck before it was used for the first time = ​1,100

Signs painted on the truck ​= 2,000

Insurance on truck before it was used for the first time = ​3,000

All the above expenses are included in determining the cost of the delivery truck. Normal repairs to the truck and insurance on truck are also included in the cost of truck because it was incurred before the truck used for the first time.

Cost of the delivery​ truck:

= Purchase price + Sales tax + Delivery charge from​ sellers location + Special racks for storage + Normal repairs to the truck before it was used for the first time + Signs painted on the truck + Insurance on truck before it was used for the first time

= $150,000 + $7,900 + $1,200 + $3,000 + $1,100 + $2,000 + $3,000

= $168,200

5 0
3 years ago
Other questions:
  • Donavan spent the day talking with a packaging company in Guam, a lighting specialist in Japan, a touchpad expert in the U.S., a
    7·1 answer
  • 6. Problems and Applications Q6 Daniel Patrick Moynihan, the late senator from New York, once introduced a bill that would levy
    13·1 answer
  • You must pick one of two​ wagers, for an outcome based on flipping a fair coin. 1. You win ​$440 if it comes up heads and lose ​
    6·1 answer
  • Ang Electronics, Inc., has developed a new DVDR. If the DVDR is successful, the present value of the payoff (when the product is
    14·1 answer
  • A company that lowers its cost per unit by selling more units overall has improved what
    7·2 answers
  • Giving 100 points and brainley for dumb answers
    5·2 answers
  • If the efficient market hypothesis is true, price changes are independent and biased. Group of answer choices
    12·1 answer
  • _____ are stories about a person’s life written by that individual.
    12·2 answers
  • Kali wants to start her own investment firm from scratch, so she's very focused on understanding the possible drawbacks of takin
    13·1 answer
  • Destiny prefers investments that offer the highest possible returns, even if they are risky. Which of the following bonds is Des
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!