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2 years ago

To prepare a cvp graph, lines must be drawn representing total revenue, ______.

1 answer:

8 0

The preparation of the CVP graph requires drawing a line representing the total revenue, total expense, and total fixed expense.

<h3>What is the CVP Graph?</h3>

The CVP Graph, also known as a cost volume profit chart, is a graphical illustration that depicts the link between production costs and overall revenues.

The CVP graph is used by businesses to determine the possible impact of changes in volume sales on production process costs and total earnings.

In this scenario, the graph considers the total revenue, total expense, and total fixed expense.

Learn more about the CVP graph here:

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2 years ago

Bramble Company uses the percentage of receivables method for recording bad debt expense. The accounts receivable balance is $59

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Answer and Explanation

Given:

Accounts receivable balance = $598,000

Percentage of receivables that are uncollectible = 5% or 0.05

Uncollectible receivables = 0.05 × 598,000 = $29,900

Adjusting journal entry to record bad debt expense is:

Particulars Debit Credit

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(Being bad debts incurred)

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So adjusting entry :

Particulars Debit Credit

Bad debts expense $25,100

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3 years ago

For each of the situations listed, identify the primary standard from the IMA Statement of Ethical Professional Practice that i

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Answer:

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Competence: accounting records must follows applicable laws, regulations and standards, you must IRA and GAAP rules when preparing financial statements and tax reports.

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Integrity: you must abstain from performing illegal activities, and bribery is illegal.

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Credibility: you must report all relevant and important information regardless of whether that information will make you bad or not.

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3 years ago

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Answer:

strategic alliance

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Based on the scenario being described within the question it can be said that the relationship in this scenario is best referred to as a strategic alliance. This term refers to an agreement between two parties in which they both help each other reach an agreed upon goal but still remain as their own independent organization. Instead it is only a strategy to reach the goals at a much faster time-frame than if each company were doing it alone.

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2 years ago

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