b) B, I, RES
c) RES, I, B
d) B, RES, I
Answer:
a) I, RES, B
Explanation:
Mainly there are four types of financial statements i.e Income statement, statement of retained earning, balance sheet and the cash flow statement
In the income statement, the total revenues and the total expenses are recorded.
If the total revenues are more than the total expenditure then the company earns net income.And, If the total revenues are less than the total expenditure then the company have a net loss
This net income or net loss would reflect in the statement of the retained earning account.
The statement of retained earning represent the beginning balance, net income or net loss and dividend amount. These items are used to calculate the ending balance of the retained earning account.
In the balance sheet, the assets, liabilities, and stockholder equity is recorded. In this the accounting equation is used which is shown below:
Total assets = Total liabilities + stockholder equity
The debit and credit side of the balance sheet should always be equal and balanced.
Moreover, it always is prepared on the specified date.
The cash flow statement involves three activities i.e operating, investing and the financing activities
1. Operating activities: It includes those transactions which affect the working capital, and it records transactions of cash receipts and cash payments.
2. Investing activities: It records those activities which include purchase and sale of the fixed assets
3. Financing activities: It records those activities which affect the long term liability and shareholder equity balance.
Hence, option a is correct
The financial statements for a business—Income Statement, Retained Earnings Statement, and Balance Sheet—are generally prepared in this order due to the dependency of each statement on the previous one's information. The process begins with the Income Statement, moves on to the Retained Earnings Statement, and concludes with the Balance Sheet.
The three financial statements—Income Statement (I), Retained Earnings Statement (RES), and Balance Sheet (B)—are typically prepared in the following order: first, the Income Statement; second, the Retained Earnings Statement; and lastly, the Balance Sheet. The reason for this order is that each statement builds upon the previous one.
Income Statement (I) is prepared first because it summarizes the company's revenues, expenses, and net income for a specific period. Reflecting the firm's operating performance over that period, it provides the necessary figures to prepare the Retained Earnings Statement (RES).
The Retained Earnings Statement (RES) illustrates changes in retained earnings for the same period as the income statement. It takes the net income from the Income Statement and applies it to the formula Beginning Retained Earnings + Net Income – Dividends = Ending Retained Earnings. The RES then provides the ending retained earnings needed for the Balance Sheet (B).
Finally, the Balance Sheet (B) is prepared. It relies on information from the previous two statements, providing an overview of the company's financial position at a specific point in time. The Balance Sheet lists the company’s assets, liabilities, and shareholders' equity, which includes the ending retained earnings from the Retained Earnings Statement.
As such, the order for preparing these statements would be option (a) I, RES, B.
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A Bureau is the answer to your question!!!!
This is confirmation bias, although the analyst chooses to interpret the results positively, he is trying to prove his own theory.
Sales data analysis is very crucial to understand the trends of the sales. Data analyst try to analyze the sales data to set goals, improve sales and forecast future sales, and also the revenue which will be generated after the sales.
Data analysis plays a vital role in any organization, the goal of data analysis is to simplify the information available to you. Because not all people are able to understand complex sales data.
The bias used here is confirmation bias, it is our tendency to choose only those things that satisfies our theory. Here the analyst is trying to take positively that information which is ambiguous in nature just to prove his own theory.
Hence, This is confirmation bias, although the analyst chooses to interpret the results positively, he is trying to prove his own theory.
To know more about confirmation bias:
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b. The firm screens out opportunities using criteria that are different from those used by other firms.
c. The firm aims its efforts at a target market that is different from a target market that a competitor would find attractive.
d. The firm uses its resources in a way that is different from the way competitors use their resources.
e. The firm changes to a different set of operational decisions when its marketing strategy is not going well.
Answer:
When Andrew sent his acceptance on Wednesday a contract was formed.
Explanation:
Andrew had recieved the offer on Monday and accepted on Wednesday, although Billy sent a revocation on Tuesday.
The onus for Andrew to receive the revocation on time is on Billy, a faster means should have been taken to notify Andrew of the revocation.
So the contract was formed on Wednesday when Andrew accepted the offer.
Answer:
The correct word for the blank space is: competitive.
Explanation:
Pricing strategies are methods companies use at the moment of setting the prices of their products. The most common pricing strategies are: