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kvv77 [185]
2 years ago
6

Identify each statement as true or false.

Business
1 answer:
Fofino [41]2 years ago
8 0

Answer:

true water and the other day and the other

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Assume that Global Cleaning Service performed cleaning services for a department store on account for​ $180. How would this tran
tamaranim1 [39]

Answer:

(B) Increase both assets and equity by $180

Explanation:

The transaction analysis model tells us that:

Assets = Liabilities + Owner's Equity

Owner's equity = Contributed Capital + Retained Earnings

Retained Earnings = Net Income − Dividends

and

Net Income = Income − Expenses

The expanded accounting equation is obtain if all substitutions are made:

Asset = Liabilities + Contributed Capital + Income – Expenses − Dividends

In the Global Cleaning Service`s case:

Assets are increased either because the service is collected or is an account receivable. As the service provided is a revenue (income) is part of the Owner's Equity that also increase. Both, Asset and Owner's Equity, increase in 180.  

7 0
3 years ago
Maintenance, which was about 18 of the total budget less than it spent on administrative personnel. The amount spent on administ
____ [38]

Answer:

the remaining budget for other expenses = 1/8 of the total budget

Explanation:

Since the city's administrative personnel expenses are 1/8 larger than both maintenance expenses and safety expenses, it means that safety expenses are equal to maintenance expenses.

Since maintenance expenses are 1/4 of the total budget, safety expenses are also 1/4 of the total budget.

Administrative personnel expenses are 1/8 higher, so that means that they equal 1/4 + 1/8 of the total expenses.

If we add the three categories = 1/4 + 1/4 + (1/4 + 1/8) = 7/8

So the remaining budget for other expenses = 1 - 7/8 = 1/8 of the total budget

8 0
3 years ago
In measuring an impairment loss for a financial asset under U.S. GAAP and under IFRS, the carrying value of the financial asset
Vitek1552 [10]

In measuring an impairment loss for a financial asset under U.S. GAAP and under IFRS, the carrying value of the financial asset would be compared to:

under U.S. GAAP Fair value and under IFRS recoverable amount.

Explanation:

In US GAAP, the cost of financial asset depreciation is calculated as the difference between carried value and fair value; in compliance with IFRS, a loss of financial asset impairment is defined as the difference between carrying value and the percentage of the asset that can be recouped.

In compliance with US-based ASC 360-10-35-20. The recovery of a historically identified impairment loss (or "restoration") is forbidden because an item is deemed to have a new cost base after an impairment loss has been registered.

7 0
3 years ago
When different sequences of operations are required for creating small batches of different products, the type of design or layo
damaskus [11]
Product design but I’m also a little convinced it’s also product layout
3 0
2 years ago
At a price of $100, Beachside Canoe Rentals rented 11 canoes. When it increased its rental price to $125, 9 canoes were rented.
zhuklara [117]

Answer:

C) 0.9.

Explanation:

The calculation  of the price elasticity of demand is shown below:

Price elasticity of demand is

= (Change in quantity demanded ÷ average of quantity demanded) ÷ (Change in price ÷ average of price)

where,

q1 = 11

q2 = 9

p1 = $100

p2 = $125

So,

= {(9 - 11) ÷ (9 + 11) ÷ 2}  ÷  {($125 - $100) ÷ ($125 + $100) ÷ 2 }

= {-2 ÷ 10} ÷ {25 ÷ 112.5 }

= -0.9

= 0.9

4 0
2 years ago
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