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nadya68 [22]
2 years ago
12

Which of the following describes the

Business
1 answer:
Mademuasel [1]2 years ago
7 0

Answer:

consumer surplussurplussurplus

Explanation:

add me back and brainliest ;)

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As seen on an income statement:
larisa [96]

Answer:

b. depreciation reduces both the pretax income and the net income.

Explanation:

A financial statement is a written report that quantitatively describes a firm's financial health. Under the financial statements is a cash-flow statement, which is used to record the cash inflow and cash equivalents leaving a business firm.

Cash flow statement, also known as the statement of cash flows, contains financial information about operating, financial and investing activities.

An income statement comprises of the financial information about the income and expenses of an organization over a specific period of time.

Depreciation can be defined as the reduction of cost of a fixed asset systematically until the value of the asset becomes zero.

The Modified Accelerated Cost Recovery System (MACRS) can be defined as a depreciation system that avails business owners or companies the ability and opportunity to recover or recoup the cost basis of physical assets that have experienced deterioration over a specific period of time.

In the United States of America, the Modified Accelerated Cost Recovery System (MACRS) is used mainly for tax purposes because it gives room for faster depreciation of a physical asset in its first years or initial usage and reduces depreciation as it is being used over a long period of time.

Generally, it can be deduced from an income statement that depreciation reduces both the pretax income and the net income of a business firm or an organization.

8 0
3 years ago
Read 2 more answers
Which activity is a good practice when selling online media?
nikdorinn [45]

Answer:

For Plato the answer is D: Avoid quoting too high a price.

Explanation:

I got it right

4 0
3 years ago
Tatham Corporation produces a single product. The standard costs for one unit of its Clan product are as​ follows:
Alla [95]

Answer:

$3,500 Unfavorable

Explanation:

The computation of variable overhead efficiency variance for Clan for November Year 2 is shown below:-

Variable overhead efficiency variance

=  (Standard labor hours - actual labor hours) × (Standard variable overhead rate)

= (3,500 × 2 - 7,500) × $7

= (7,000 - 7,500) × $7

= $3,500 Unfavorable

Therefore for computing the Variable overhead efficiency variance we simply applied the above formula.

3 0
3 years ago
During its first year in business, Comfy Home accounted for its inventory using the last in first out (LIFO) method. In the seco
Dmitry [639]

Answer:

Consistency principle

Explanation:

Accounting principles are defined as the general rules of.axcpunting that businesses are expected to follow when reporting financial information.

Accounting principles include:

- Accrual principle

- Conservatism principle

- Consistency principle

- Cost principle

- Economic entity principle

- Full disclosure principle

- Going concern principle

- Matching principle

- Materiality principle

- Monetary unit principle

- Reliability principle

- Revenue recognition principle

- Time period principle

Consistency principle requires one the continue using an accounting method consistently for future accounting periods so that information can be easily comparable.

In the given scenario the accountant tells Tenisa that US GAAP allows a company to choose its inventory valuation method as long as it doesn't change over time without a justifiable reason.

This is an example of consistency principle

5 0
2 years ago
Adriana has borrowed $30,000 from her IRA in order to fund her startup costs. How long does she have to replace the money withou
nordsb [41]

Answer:

it is NOT 30 days

Explanation:

7 0
4 years ago
Read 2 more answers
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