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3 years ago

What are generally accepted accounting principles?.

Business

1 answer:

katrin [286]3 years ago

4 0

Answer:

Generally accepted accounting principles (GAAP) are a common set of accounting rules and standards that dictate how financial statements are prepared.

Explanation:

Generally accepted accounting principles (GAAP) are a common set of accounting rules and standards that dictate how financial statements are prepared. Public companies, nonprofit organizations, and government entities are required to prepare financial statements in accordance with GAAP.

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Riley says that the present value of $700 one year from today if the interest rate is 6 percent isless than the present value of

devlian [24]

Answer:

A) Both Riley and Anh are correct.

Explanation:

to see who is right we can calculate:

PV = FV / (1 + r)ⁿ

FV = PV x (1 + r)ⁿ

Riley's statement:

PV = $700 / (1 + 6%) = $660.38

PV = $700 / (1 + 3%)² = $659.82

Riley is right

Anh's statement:

FV = $700 x (1 + 6%) = $742

FV = $700 x (1 + 3%)² = $742.63

Anh is right

They are both right due to compound interest, since compound interest means that the interest earned will also earn more interest.

6 0

3 years ago

Piper Corporation’s standards call for 6,000 direct labor-hours to produce 1,500 units of product. During October the company wo

Nikolay [14]

Answer:

The standard hours allowed for October would be 5,400 hours

Explanation:

For computing the standard hours allowed for the October month, first, we have to compute the standard per hour unit which is shown below:

= Standard direct labor ÷ Number of units to be produced

= 6,000 ÷ 1,500

= $4

Now, in October month, the direct labor worked for the 1,350 hours and the standard price per unit is $4, So standard hours allowed is

= October direct labor hours × standard price per unit

= 1,350 hours × $4

= $5,400 hours

8 0

4 years ago

To improve the effectiveness of the marketing control process, the marketing manager should?

Maslowich

Answer:

The manager for what ever business there in should reach sufficient standards for the clients and to make clients feel good and there actually getting something good out of He/Hers Company.

Explanation:

7 0

2 years ago

Mila is at a flea market. She has $50 in her wallet. She decides that she will spend $15 on jewelry, $20 on a pair of jeans, $5

tigry1 [53]

Answer: She will give up on the T-shirt and use the money to buy better jeans.

She will buy the T-shirt for $8 and not order juice at lunch.

Explanation:

A trade-off refers to the compromise which is made when an individual decides to take one action and give up on the other.

When Mila buy's the T-shirt for $8 and does not order juice at lunch, she is making a trade-off between buying a t-shirt and ordering a juice at lunch.

Similarly, when Mila decides to give-up on the T-shirt and decides to buy a better jeans she is making a trade-off between

6 0

3 years ago

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You are not required to wear a helmet while operating a motorcycle if you can show proof that you are covered by an insurance po

faust18 [17]

You are not required to wear a helmet while operating a motorcycle if you can show proof that you are covered by an insurance policy that provides at least C)$10,000 in medical benefits.

This situation related to the financial responsibility of the motorcycle driver to cover the accident. This situation regulated with a regulation called the Financial Responsibility Law.

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3 years ago

Read 2 more answers