Answer:
It is recognition, measurement, and disclosure concepts (D)
Explanation:
Elements of financial statements : this falls under the second level of the conceptual framework.
Objective of financial reporting : this falls under the first level of the conceptual framework.
Qualitative characteristics of accounting information : this falls under second level of the conceptual framework
Recognition, measurement, and disclosure concepts: this falls under the third level of conceptual framework.
Answer:
1.5
Explanation:
Current ratio = current asset/current liabilities
This ratio is used to determine how quickly the current assets can be used to settle the current liabilities as they fall due.
current assets = $120,000
current liabilities = $80,000
The firm's current ratio = $120,000/$80,000
= 1.5
Answer:
Foetal Development.
Explanation:
Foetal development is the growth of a fetus in the uterus of mammals that takes place during their gestation period. This growth starts at the fertilization stage and then continues to grow into a newborn till the time of childbirth. In humans, this growth is also referred to as antenatal development.
Answer:
$383,565
Explanation:
For the computation of accounts receivable balance first we need to find out the number of days which is shown below:-
Number of a day = Sales ÷ Number of days in a year
= $4,000,000 ÷ 365
= $10,959
Now
Accounts receivable balance
= Days × Number of day
s
= 35 × $10,959
= $383,565
Therefore for computing the accounts receivable balance we simply applied the above formula.
Here we assume the number of days in a year is 365
Answer:
There are called future goods
Explanation:
Future goods are good that are not yet in existence or that do not yet belong to the seller when the contract of sale is made