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
EastWind [94]
2 years ago
10

the true statement from the list below, regarding the Contribution Format Income statement. Multiple Choice The Contribution For

mat Income Statement could be prepared by someone external to the company just by using the reported GAAP Traditional Income Statement. The Contribution Format income statement is utilized only for external reporting purposes. The Contribution Format Income Statement is utilized for internal decisionmaking purposes. The format of the Contribution Format Income statement begins as: Sales minus Cost of Goods Sold equals Contribution Margin.
Business
1 answer:
Alex Ar [27]2 years ago
5 0

Answer:

The Contribution Format Income Statement is utilized for internal decision-making purposes.

Explanation:

The contribution format income statement is a most and useful tool for the planning and decision-making as it represents the revenue that is produced after subtracting the variable and fixed expenses. So it would be utilized for the decision-making motive for internal.

You might be interested in
A real estate professional leased a building for 10 years at an annual rent of $48,000. She will receive a commission of 7.5% fo
Alex Ar [27]

Her gross income from this commission over the life of the lease is $28,560.

Commission for the first five years

Commission=5×(48,000× .075)

Commission=5×3600

Commission=$18,000

Commission for the next three years

Commission=3×(48,000 ×.05)

Commission=3×2,400

Commission=$7,200

Commission for the final two years

Commission=2×(48,000 ×.035)

Commission=2×1,680

Commission=$3,360

Gross income commission:

Gross income commission=$18,000+$7,200+$3,360

Gross income commission=$28,560

Inconclusion her gross income from this commission over the life of the lease is $28,560.

Learn more about gross income commission here:brainly.com/question/24825618

3 0
2 years ago
In the late 1960s and the early 1970s, the ___________ and the __________ attempted to resolve the dispute by agreeing to severa
11Alexandr11 [23.1K]

Answer:

In the late 1960s and the early 1970s, the _texas bar association_ and the _texas association of realtors_ attempted to resolve the dispute by agreeing to several earnest money contracts that would be acceptable for real estate practitioners to use in their daily business.

Explanation:

(Texas Bar) is a judicial body which is under the Supreme Court's administrative control. They shall assist the Texas Supreme Court with the supervision of all lawyers in Texas. It is America's fifth largest lawyer group.

The association of realtors is an organised group that protects the rights of realtors and also lays down some ground rules for all realtors to abide.

7 0
3 years ago
Beyer Company is considering the purchase of an asset for $370,000. It is expected to produce the following net cash flows. The
Alenkasestr [34]

Answer:

3.55 years

Explanation:

The payback period is the length of time it takes for Beyer Company to recoup the initial investment of  $370,000.

In other words, the number of years for the net cash flows of the project to equate the initial investment amount of $370,000 as shown in the attached excel file for Beyer company's payback computation

Download xlsx
5 0
3 years ago
FIFO and LIFO Costs Under Perpetual Inventory SystemThe following units of a particular item were available for sale during the
Sidana [21]

Answer:

FIFO - $22,880

LIFO - $21,120

Explanation:

The FIFO inventory system means first in, first out. It means the initial inventory is the first to be sold. The ending inventory would consist of the last purchased inventory.

Ending inventory = 52 ×$440 = $22,880.

The LIFO inventory system means last in, first out. It means the last purchased inventory are the first to be sold . The ending inventory would consist of the initial inventories.

Ending inventory = (36 units × $400) + [(52-36) × 420] =$14,400 + $6,720 = $21,120

I hope my answer helps you

5 0
3 years ago
During the year, Eleanor earns $120,000 in wages as an employee of an accounting firm. She also earns $30,000 in gross income fr
madam [21]

Answer:

Self employment tax will be $24000

So option (e) will be correct option

Explanation:

We have given that earning from outside consulting service = $30000

Deductible amount paid in connection with consulting service = $6000

We have to find the self employment tax

Self employment tax is the difference of earning from outside source and deductible amount

So self employment tax = $30000 - $6000 = $24000

So option (e) will be correct option

5 0
3 years ago
Other questions:
  • Avery Company has two divisions, Polk and Bishop. Polk produces an item that Bishop could use in its production. Bishop currentl
    12·1 answer
  • Please I really need help fast I will rate good
    13·1 answer
  • A florist who has been in business for several years finds himself facing several problems simultaneously. First, he has a large
    11·1 answer
  • Which of the following best describes a cartel? A.when businesses agree to limit supplies of a product C.complete control of a p
    7·2 answers
  • The one-year forward rate of the British pound is quoted at $1.63, and the spot rate of the British pound is quoted at $1.60. Th
    15·1 answer
  • Under what circumstance might a certification authority (CA) revoke a certificate?
    14·1 answer
  • Pet Supplies Inc., a pet wholesale supplier, was organized on January 1. Projected sales for each of the first three months of o
    5·1 answer
  • Select all of the expressions that are equal to 6 × 45.<br> 6 × (40 + 5)
    13·1 answer
  • How long does someone stay on your best friend list on Snap chat??​
    12·1 answer
  • 2.1 Choose/identify FIVE businesses and conduct research on the CSI projects and
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!