(c) select the accounting assumption or principle Only those things that can be expressed in money are included in the accounting records.
(d) select the accounting assumption or principle Separates financial information into time periods for reporting purposes.
(e) select the accounting assumption or principle Measurement basis used when a reliable estimate of fair value is not available.
(f) select the accounting assumption or principle Dictates that companies should disclose all circumstances and events that make a difference to financial statement users.
Answer:
Book keeping ideas principles of bookkeeping that ought to be followed in planning everything being equal and budget summaries. The four major ideas are;
b. allow banks to monitor firms' check payment practices, which can yield information about their borrowers' financial conditions.
c. are a required minimum amount of funds that a borrower (i.e., a firm receiving a loan) must keep in a checking account at the bank.
d. are all of the above.
Answer:
The correct answer is D
Explanation:
Compensating balance is the balance which is to be minimum amount that is to maintained or kept in the bank account, so that could be used to offset the cost incurred by the bank for setting up the loan.
It is that balance which is not available for the company to use and might be needed to disclose in the notes of the borrower in the financial statements.
So, it is a specific kind of collateral, allow bank to monitor payment practice of firms and require to have a minimum amount that borrower need to keep in the checking account.
Answer:
The correct answer is C. when income increases, demand for a normal good increases while demand for an inferior good falls.
Explanation:
The normal good is that whose quantity demanded for each of the prices increases when the rent increases. A lower good is one whose quantity demanded decreases when income increases. The inferior goods are usually those for which there are higher quality alternatives. When it comes to a normal good, increasing the income of the consumer increases the quantity demanded at each price. Causing a shift in demand to the right.
Answer:
The correct answer is C
Explanation:
Longminuslived assets are those assets which are termed as the long term assets, and its example are property, plant, land, building, furniture and fixtures.
Cash flow statement is the financial statement which provides the total data in relation to all the cash inflows receives from its ongoing operations of the company and external sources of the investment. The statement also involves the cash outflows which is paid for the business investments and activities during a period.
So, the transaction which is not involved in the statement is the disposing of the assets for the no cash proceeds.
The coffee shop's practice of counting its inventory of bags of whole bean coffee every Wednesday morning is an example of a periodic inventory tracking system.
In a periodic inventory system, the inventory is not continuously updated in real-time. Instead, physical counts are conducted periodically, typically at regular intervals, to determine the quantity of inventory on hand.
In this case, the coffee shop chooses to conduct inventory counts on a specific day (Wednesday morning) to track the number of bags of whole bean coffee available.
By doing so, they can assess their stock levels, identify any discrepancies or shortages, and make informed decisions about restocking and managing their inventory.
Compared to perpetual inventory systems where inventory levels are continuously monitored using technology like barcode scanning, periodic inventory systems require physical counts and rely on manual record-keeping.
While periodic systems may be less precise and may not provide real-time information, they can still be effective for businesses with manageable inventory levels and where the cost of implementing a perpetual system may not be justified.
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b. appraisal value
c. list price
d. exchange price paid