Answer:
The result of the operation of for the month is Net Income of $215,000.
Explanation:
Values Reported as follows
Revenues = $ 315,000
Expenses = $ 100,000
Equation to compute net income or loss:
In case if Total Revenue is higher than the Total Expenses the net result will be as Income and Total Expenses is higher than the Total Revenue the net result will be as Loss.
Net Income / Net Loss = Total Revenue - Total Expenses
Calculations:
Net Income / Net Loss = $315,000 - $100,000
Net Income = $215,000
So the result of the operation of for the month is Net Income of $215,000.
Answer:
True
Explanation:
The reason is that the Internation Financial Reporting Framework says that though there are choices the company must opt to the depreciation method that brings fairness to the financial statement, which means that the method used calculates the depreciation for the year that actually represents the decrease in the value of the assets in market value. So if the current method brings the fairness to the Financial statements, Lucky can use them and if those don't bring fairness to the financial statements then its better to use alternative which will bring the fairness to financial statements.
Answer:
False
Explanation:
"An auditor is a watchdog and not a blood hound". The purpose of conducting an audit is to provide 'reasonable assurance" and not 'absolute assurance' to the management of an entity and users of financial statements.
An auditor cannot be held liable for any misstatement or fraud if he proves that he did his work diligently, and acted bona fide, and as per the evidence available to him, arrived at such an opinion.
But, in cases wherein an auditor has acted grossly negligent or colluded with management or window dressing of accounts, such auditor would be held personally liable and accountable. For e.g Enron case.
Answer:
Opportunity cost is the benefit that is foregone for an individual by choosing one alternative over other alternatives available to him.
If the opportunity cost is lower for an individual then this will benefit him whereas if the opportunity cost is higher then this will not benefit the individuals.
The opportunity cost of seeing Eric Clapton is the enjoyment that he gets from the Bob Dylan concert and $20 that is the difference between actual ticket price and willing to pay for it.
OB. The difference between costs and revenues
OC. An upward trend in prices
OD. An increase in the value of an investment
The correct answer is OD. An increase in the value of an investment.
A capital gain refers to the profit earned from the increase in the value of an investment. It occurs when the selling price of an asset, such as stocks, real estate, or bonds, is higher than its purchase price. When an individual or entity sells an investment for a higher price than what they initially paid for it, they realize a capital gain.
For example, let's say you purchased shares of a company's stock for $10 each. After a period of time, the value of the stock increases to $20 per share. If you decide to sell the shares at this higher price, you would realize a capital gain of $10 per share.
It's important to note that capital gains are typically subject to taxation, depending on the tax laws and regulations in the specific jurisdiction. The tax rate on capital gains may vary based on factors such as the holding period of the investment and the taxpayer's income level.
Remind the American employees that the Indians may be showing respect by remaining silent T/F
Answer:
True
Explanation:
American employees are not considering the cultural differences with India, and how a new employee is probably expected to behave according to Indian culture.
American culture or really any western culture (North and South America, most of Europe and Australia + NZ) tends to be much more open. But we are really a minority of the world's total population, about 20% only. On the other side, Asian cultures are much more rigid and structured, and respect is very important to them.
Probably remaining silent is a way of showing respect, at least during the first time that they meet strangers.
A) redefining the situation
B) teamwork
C) studied nonobservance
D) impression management
Studied nonobservance is the action of ignoring an embarrassing situation in a conversation and acting as though it did not happen. This technique is part of impression management, which is how people seek to control how others view them.
The technique in which all participants involved in an uncomfortable or embarrassing situation choose to ignore it and continue their discussion as though nothing unusual happened is called studied nonobservance. In this technique, people manage the impressions they are giving off by intentionally not reacting to or acknowledging an embarrassing or potentially awkward situation. This process is a part of impression management, which is how individuals attempt to control how others perceive them in social situations.Redefining the situation and teamwork are other methods used in impression management but not the best answer to this question.
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A face-saving technique in which all parties involved in an embarrassing situation ignore it and continue their conversation or interaction as though the embarrassing situation never happened is referred to as C) studied nonobservance.
Studied nonobservance is a face-saving technique in which all parties involved in an embarrassing situation ignore it and continue their conversation or interaction as though the embarrassing situation never happened. This technique is often used to preserve the dignity and social harmony of individuals or groups involved.
Thus, As a face-saving tactic known as "studied nonobservance," all persons engaged in a humiliating scenario ignore it and carry on as if nothing unusual had happened. For example, if someone accidentally spills a drink and everyone at the table pretends not to notice and carries on with the conversation, this is an example of studied nonobservance.
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