Here are some qualitative characteristics of useful accounting information: 1. Predictive value. 2. Neutral. 3. Verifiable. 4. Timely. Match each qualitative characteristic to one of the following statements. (a) Accounting information should help provide accurate expectations about future events.
Answers
Predictive value is the qualitative trait that most closely aligns with the adage "Accounting information should assist offer correct predictions about future occurrences." Option 1 is Correct.
The term "predictive utility of accounting information" refers to the capacity of financial statements to offer meaningful data that can assist users in forecasting future occurrences or trends.
This implies that accounting data must be current and trustworthy enough to assist creditors, investors, and other users in making defensible choices regarding a company's future prospects.
Users may estimate future cash flows, profitability, and other crucial financial parameters with the use of accounting data with a high predictive value. The ability of the information to affect users' financial decisions is referred to as relevance. For instance, the data may assist users in predicting future occurrences, such as cash flows, and in deciding on alternatives. Option 1 is Correct.
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These qualitative characteristics are important for ensuring that accounting information is useful for decision-making. By providing predictive value, neutrality, verifiability, and timeliness, accounting information can help users make informed decisions and understand the financial performance of a company.
The first qualitative characteristic of useful accounting information is predictive value, which means that the information should be able to help users make accurate predictions about future events. For example, financial statements should be able to help investors and other stakeholders make informed decisions about the future prospects of the company. This means that the information should be relevant and provide insight into future possibilities.
The second qualitative characteristic is neutrality, which means that the information should be free from bias or any other form of distortion. The accounting information should be unbiased and not influenced by the personal interests of those preparing or presenting the information. Neutrality helps to ensure that the information is trustworthy and reliable.
The third qualitative characteristic is verifiability, which means that the information can be confirmed or supported by other available evidence. Accounting information should be able to be verified by an independent third party, such as an auditor or regulator. This helps to ensure that the information is reliable and accurate.
The fourth qualitative characteristic is timeliness, which means that the information should be available in a timely manner to be useful for decision-making. Accounting information should be available as soon as possible, so that it can be used to make informed decisions quickly. This helps to ensure that the information is relevant and useful.
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Related Questions
functions of Okhal best answer will be chosen as brainnest
Answers
Answer:
The cerebellum receives information from the sensory systems, the spinal cord, and other parts of the brain and then regulates motor movements. The cerebellum coordinates voluntary movements such as posture, balance, coordination, and speech, resulting in smooth and balanced muscular activity.
Explanation:
thanks me later po
Answer:
the function of are as given below:
it is long lasting
smooth and easy to use
helps to grind different species
Explanation:
mark as a brainlist if it is correct
Select the
correct teamwork characteristic from the drop-down menu.
A characteristic that denotes integrity and truthfulness, along with the absence of lying, cheating,
or theft
v
An act of working together for a common purpose or benefit
A characteristic of being able to complete a required task at a previously designated time
You can demonstrate cooperation by
DONE
Answers
The correct teamwork characteristic is An act of working together for a common purpose or benefit.
What is teamwork?Teamwork is a process of working collaboratively with a group of people to achieve a goal. In teamwork, each team member will give their best contribution to complete a job or achieve a common goal.
Actually, we've been doing teamwork since we were still in school or college. The simplest example is: group work. The common goal of group assignments is to complete their assignments well, and get good grades or pass the course. To achieve that, each member of the group must do their job well. This simple example also applies to the world of work.
Even though the hard skills you have are very good, you will still need help from other colleagues. Because, humans are social creatures who will always need other people.
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Enterprises that provide goods or services to, or receive them from my training institution or organization
Answers
Answer:
Enterprise is another word for a for-profit business or company, but it is most often associated with entrepreneurial ventures. People who have entrepreneurial success are often referred to as “enterprising.” There are many forms of legal enterprises, with the most common in the U.S.
What's a curling iron?
Answers
Answer:
A curling iron is a tool that is used on hair to create a tight or loose curl.
Tucker works for a retail distributor company that was recently started. Tucker already invested a lot of his earnings into shares of the company. When the quarterly earnings are posted, Tucker receives a check for 8% of the quarterly profit of the company. Tucker belongs to a _________ Corporation.
A. Professional
B. Closely-Held
C. Sub chapter S
Answers
the authorized stock of a corporation a.must be recorded in a formal accounting entry b.is indicated in its charter c.only reflects the initial capital needs of the company d.is indicated in its bylaws
Answers
The authorized stock of a corporation is: B. indicated in its charter.
What is authorized stock?The charter is a legal document that establishes the corporation and sets out its structure, including the number of shares of stock that the corporation is authorized to issue.
The authorized stock is not a formal accounting entry and does not reflect the initial capital needs of the company. Rather, it sets a limit on the number of shares of stock that the corporation can issue. The authorized stock can be changed through a vote of the corporation's board of directors and/or shareholders, as specified in the corporation's bylaws.
Therefore, Option B is the correct answer.
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25 POINTS!!!! ASAP- Record General Journal Entries for the following transactions
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The Following are required Journal entries. In your company's books, a journal entry serves as a record of a business transaction. Every transaction requires at least two journal entries in double-entry bookkeeping. A bookkeeper keeps track of all the changes that a transaction can bring about in a business by recording them in their journal.
Jan 5
Bank A/c Dr $101,000
To 5% Preferred Stock $100,000
To Security Premium $1000
Jan 15
Income Tax A/c Dr $17,000
To Bank $17,000
Jul 26
Dividend A/c Dr $100
To Cash A/c $100
Aug 12
5% Preferred Stock $60000
Security Premim $1200
To Share Forfeiture $61200
The following are required Journal entries. A voucher entry in accounting is a record that contains information about a financial transaction and is used to process payments. Discover the meaning of a coupon and become familiar with the operation of the voucher system.
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Oddo's Pizza is a restaurant that recently implemented a new system to identify and gather information about its regular customers. It rewards these customers by giving them gift coupons and cash prizes. This practice is an example of _______. a. total quality management b. customer relationship management c. profit maximization d. organizational optimization
Answers
Customer is termed as the individual that consumes or uses the goods and services that are availed to them for their satisfaction or need fulfillment. The customers are known as the king of the market that decides the production of the goods and the services.
The correct answer for the blank is b. customer relationship management.
Customer Relationship Management is termed as the process or the activities that manage the company's relationship and communications of the customers with the firm and manage to explore the potential customers or the new customers.
The main aim of CRM is to build and construct good relationships between the customer and the firm. It connects the corporate sector with the customers in order to let them know about their services.
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The balance on a credit card, that charges a 20%
APR interest rate, over a 1 month period is given in
the following table:
Days 1-5: $200 (initial balance)
Days 6-20: $350 ($150 purchase)
Days 21-30: $150 ($200 payment)
What is the finance charge, on the average daily
balance, for this card over this 1 month period?
finance charge = $ [?]
Round to the nearest hundredth.
Enter
Answers
The balance on a credit card, that charges a 20% APR interest rate, the Finance charge is given as
$4.3055
This is further explained below.
What is the APR interest rate?Generally, The interest rate that is applied to a loan, mortgage loan, credit card, etc. is referred to as an annual percentage rate of charge, which sometimes corresponds to a nominal APR and sometimes corresponds to an effective APR.
The annual percentage rate of charge is the interest rate for the entire year, as opposed to just a monthly fee or rate. It is a fee for financing that is presented in the form of an annual rate.
Interest rate APR = 12%
Average balance = ((200*5)+(350*15)+(150*10))/30
Average balance = $258.33
Average balance*APR/12
Finance charge =\(\frac{258.33*20 \%}{12 }\)
Finance charge = $4.3055
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Supper Company Ltd., reported the following stockholders’ equity on its balance sheet at June 30,
2012:
Supper Company Ltd.
Stockholders’ Equity
June 30,2012
Paid-in Capital
Preferred stock, 10%,? par, 650,000 shares authorized, 280,000 shares issued $ 1,400,000
Common stock, par value $? per share, 5,000,000 shares authorized,
1,000,000 shares issued and outstanding
2,000,000
Paid-in capital in excess of par—common 6,000,000
Total paid-in capital 9,400,000
Retained earnings 12,300,000
Total Stockholders’ equity $21,700,000
Requirements:
1. What is the par value per share of Supper’s preferred stock? (Show Workings)
2. What is the par value per share of Supper’s common stock? (Show Workings)
3. What is the selling per share for the $6,000,000 reported as paid-in capital in excess of par –
common? (Show Workings)
4. Prepare two (2) summary journal entries to record issuance of all the Supper Company Ltd stock for
cash. Explanations are not required.
Answers
Answer:
1. Par Value of Preferred stock;
= Preferred stock value / Shares issued
= 1,400,000/280,000
= $5
2. Par Value of Common Stock
= Common stock value / Shares issued
= 2,000,002/1,000,000
= $2
3. Selling price per share including Paid-In Cap
Paid-in cap is the price of a share that exceeds its par value. Selling price therefore is;
= (Par Value + Paid In cap)/ Number of shares
= (2,000,000 + 6,000,000) / 1,000,000
= $8 per share
4.
DR Cash $1,400,000
CR Preferred Stock $1,400,000
DR Cash $8,000,000
CR Common Stock $2,000,000
Paid-In Capital in excess of par - Common Stock $6,000,000
If a French company pays a 8% cost of capital in euros, while the inflation rates in France and Mexico are respectively 3% and 7%, the company's cost of capital in Mexican pesos is: • (a) less than 8% • (b) greater than 15% (c) equal to 11% (d) none of the above
Answers
The cost of capital in mexican pesos for the french company is equal to 12%, which is greater than 15%.
the cost of capital in mexican pesos for the french company would be greater than 15%.
to calculate the cost of capital in mexican pesos, we need to consider the inflation differentials between france and mexico. the inflation differential is the difference in inflation rates between the two countries.
in this case, the inflation rate in france is 3% and in mexico is 7%. the inflation differential is calculated by subtracting the inflation rate in france from the inflation rate in mexico: 7% - 3% = 4%.
to find the cost of capital in mexican pesos, we add the inflation differential to the cost of capital in euros.
cost of capital in mexican pesos = cost of capital in euros + inflation differential
given that the cost of capital in euros is 8% and the inflation differential is 4%, we can calculate:
cost of capital in mexican pesos = 8% + 4% = 12% hence, the correct answer is (b) greater than 15%.
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ordinary kriging method assume that
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Given that income is $300, the price of good y is $15, and the price of good x is $20, what is the vertical intercept of the budget line?
Answers
Given that income is $300, the price of good y is $15, and the price of good x is $20, the vertical intercept of the budget line is 20.
What is the budget line in meaning?All the combinations of goods and services that a consumer may buy at the current price range within the limits of his or her available income are represented by a budget constraint. The notions of a preference map and a budget restriction are used by consumer theory to investigate the criteria for customer decisions. The budget line is a graphical representation of every combination of the two commodities that may be purchased utilizing the given revenue and cost, with the price of each variety being similar to the client's financial earnings. The budget line displays all possible product pairings that a buyer, given his financial situation and the cost of the two commodities, could buy. The formula for a budget line is as follows: M=PX. QX+PY.Therefore the correct answer is C. 20
The complete question is:
Given that income is $300, the price of good Y is $15, and the price of good X is $20. What is the vertical intercept of the budget line?
A. 4,500
B. 300
C. 20
D. 15
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For each of the following transactions for the Sky Blue Corporation: a. Collected $4,950 rent for the period October 1 to December 31, which was credited to Deferred Revenue on October 1. B. Paid $3,240 for a two-year insurance premium on October 1 and debited Prepaid Insurance for that amount. C. Used a machine purchased on October 1 for $58,200. The company estimates annual depreciation of $5,820. Prepare the adjusting journal entries required on October 31. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field. ) View transaction list Journal entry worksheet Record the rent revenue earned during October. Note: Enter debits before credits Transaction General Journal Debit Credit
Answers
A. Collected $4,950 rent for the period October 1 to December 31, which was credited to Deferred Revenue on October 1:
No Journal Entry Required
B. Paid $3,240 for a two-year insurance premium on October 1 and debited Prepaid Insurance for that amount:
Debit: Prepaid Insurance: $160
Credit: Insurance Expense: $160
C. Used a machine purchased on October 1 for $58,200. The company estimates annual depreciation of $5,820:
Debit: Depreciation Expense: $292
Credit: Accumulated Depreciation: $292
The adjusting journal entries on October 31 are as follows:
B. To record the insurance expense for the month of October:
Debit: Insurance Expense: $160
Credit: Prepaid Insurance: $160
C. To record the depreciation expense for the month of October:
Debit: Depreciation Expense: $292
Credit: Accumulated Depreciation: $292
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hich of the following is not an accurate description of allowance for doubtful accounts? a. contra-account. b. balance sheet account. c. income statement account. d. all of the above correctly describe allowance for doubtful accounts.
Answers
The correct answer is 'C.
The Allowance for Doubtful Accounts is not reflected in the income statement, just the bad debt expenditure when the provision for bad debt is declared at the end of the quarter.
A provision for doubtful accounts is a "counter asset" since it affects the value of an asset, in this instance accounts receivable. The allowance, also known as a bad debt reserve, indicates management's projection of the amount of accounts receivable that customers will not pay.
The corporation expects that some consumers may be unable to pay the whole amount and that $50,000 will not be converted to cash. Furthermore, in June, the allowance for dubious accounts begins with a balance of zero.
"Bad debt" is technically classified as a cost. It is included in the reporting of other selling, general, and administrative costs. In any situation, bad debt results in a decrease in net income.
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Fine print contains what? A. Only stuff lawyers require B. A bunch of useless info C. Clear language designed to be easy to read D. Virtually all of the important info in an agreement. Which is it?
Answers
Answer:
D
Explanation:
A fine print is a term that refers to the business usage of the terms and the conditions.
Have important information regarding the company or the documents that are placed in the footnotes and they are essential for entering into an agreement.Hence the option D is correct.
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Social media is only an effective tool for employment when used with other tools like resumes and blogs.
true or false
Answers
what factors affect the process of planning?
Answers
Answer:
Answer to the following question is as follows;
Explanation:
Several factors also influence the sort of planning application that must submit as well as the result of our planning permission.
Nature, animals, and biodiversity, as well as planning permission policies , Regulations, construction, and so on Statement of design, statement of design and accessibility, statement of design, statement of design, statement of design Environment Healthcare, Ecology
Which margin is at the very bottom of the page when printing worksheets?
top margin
bottom margin
header margin
footer margin
Answers
Answer:
Footer Margin
Explanation:
Just took this :)
Answer:
Footer Margin
Explanation:
The income elasticity of demand for ground beef has been estimated to be -0.197. If income falls by 20 percent in a period, how will that affect demand for ground beef in that period, all other things unchanged
Answers
The demand for ground beef will decrease by approximately 3.94 percent if income falls by 20 percent, all other things unchanged.
The income elasticity of demand is a measure of how responsive the quantity demanded of a good is to a change in income. A negative income elasticity indicates that the good is an inferior good, meaning that as income increases, people tend to consume less of it. In this case, the income elasticity of demand for ground beef is -0.197, which means that a 1 percent increase in income leads to a 0.197 percent decrease in demand for ground beef. Therefore, if income falls by 20 percent, the demand for ground beef would be expected to decrease by approximately 3.94 percent (20 percent times 0.197).
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A $20,000 bond has annual coupons and is redeemable at the end of fourteen years for $22,600. It has a base amount equal to $18,450 when purchased to yield 6%. Find its base amount if it were purchased to yield 7%
Answers
If the bond were purchased to yield 7%, the base amount would be $16,421.48.
The bond in question has a face value of $20,000 and annual coupons, which means it pays out $20,000 in fourteen years plus an annual interest payment. The bond is redeemable for $22,600 at the end of the fourteen years. The base amount, which is the price of the bond, is $18,450 when it is purchased to yield 6%.
To calculate the base amount of the bond if it were purchased to yield 7%, we can use the formula for the present value of a bond:
\(PV = C/(1+r)^1 + C/(1+r)^2 + ... + C/(1+r)^n + F/(1+r)^n\)
where PV is the present value of the bond, C is the annual coupon payment, r is the yield rate, n is the number of years, and F is the face value of the bond.
We know that the face value of the bond is $20,000, the annual coupon payment is unknown, the yield rate is 7%, and the number of years is fourteen. We can solve for the annual coupon payment by using the bond's yield rate and the bond's face value:
Coupon payment = Face value x Yield rate = $20,000 x 7% = $1,400
Now we can plug in all the values into the formula:
\(PV = $1,400/(1+7)^1 + $1,400/(1+7)^2 + ... + $1,400/(1+7)^{14}+ $22,600/(1+7)^{14}\)
Solving for PV, we get:
PV = $16,421.48
Therefore, if the bond were purchased to yield 7%, the base amount would be $16,421.48.
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What is the rate of depreciation if the 200% declining balance
method is used for an asset with a recovery period of 4?
Answers
Hence, the rate of depreciation if the 200% declining balance method is used for an asset with a recovery period of 4 will be 50%.
Given that,
Asset depreciation method:
200% declining balance methodRecovery period = 4 yearsFormula used:
Rate of Depreciation = (100% / Recovery Period) * Depreciation MethodPercentage of depreciation for 200% declining balance method= 200%
So, The formula for rate of depreciation will be:
Rate of Depreciation = (100% / Recovery Period) * Depreciation Method= (100% / 4) * 200%= (25) * (2)= 50%
Hence, the rate of depreciation if the 200% declining balance method is used for an asset with a recovery period of 4 will be 50%.
Therefore, the correct option is C) 50%.
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FILL IN THE BLANK. Television advertising offers many advantages to national advertisers, but it is a relatively ______ form of advertising. Multiple choice question. inexpensive ineffective outdated expensive
Answers
Television advertising offers many advantages to national advertisers, but it is a relatively expensive form of advertising.
What is advertising?Advertising is any paid form of non personal promotion of goods and services. The aim of advertising is to create awareness about products so that they can be purchased by consumers.
Hence television advertising offers many advantages to national advertisers, but it is a relatively expensive form of advertising.
What do you mean by national advertising?Display advertising from marketers who are primarily promoting goods or brand names nationally is known as national advertising.
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A major conflict of interest between top executives and owners is that top executives wish to diversify the firm in order to __________, whereas owners wish to diversify the firm in order to __________.
Answers
The major conflict between the top executive and owners is that the top executive wants to reduce their employment risks.
What is the cause of conflict between the top executive and owners in the business industry?In a business industry, the major cause of conflict between the top executive and the owners is due to the disparities in their objectives and goals.
While the top executive wishes to diversify the firm in order to reduce their employment risks, the owners wish to diversify the firm to increase the company's value. Both parties must come together with a cordial relationship to achieve a common goal.
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According to the Bureau of Labor Statistics, by the year 2028 the labor force in the United States is expected to ______.
Answers
The rate of labor force in the United States is expected to grew significantly by the year 2028 according to the Bureau of Labor Statistics.
What is Labor force?A Labor force means the total number of people working and capable or working in an economy.
In conclusion, therate of labor force in the United States is expected to grew significantly by the year 2028 according to the Bureau of Labor Statistics.
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Why research proposal often gets rejected?
Give me at least 5 reason why?
Answers
cheating sneaking trust grown enough men and women
Lind co.'s salaries expense of $10,000 is paid every other friday for the 10 workdays then ending. lind's employees do not work on saturdays and sundays. the last payroll was paid on june 18. on wednesday, june 30, the month-end balance in the salaries expense account before accruals was $14,000. what amount should lind report as salaries expense in its income statement for the month ended june 30
Answers
The amount that Lind Co. should report as salaries expense in its income statement for the month ended June 30 would be $20,000.
What is salaries expense?Salary expenses are the costs incurred by an employer to pay its employees for services rendered. This includes any type of wages, bonuses, commissions, or other forms of compensation. Salaries are typically the largest component of a company's total expense budget. They represent the amount of money a business pays to its employees for their labor, which is usually calculated as a percentage of their total income. Salary expenses can also include benefits such as health insurance and vacation time. Companies may also be required to pay taxes on salaries, depending on the jurisdiction in which they operate. Salary expenses are typically tracked and monitored closely by both management and accounting teams to ensure that they are within budget.
This is calculated as follows:
Salaries expense for 10 workdays (June 19 to June 30): $10,000 x 2 = $20,000.
Plus the month-end balance in the salaries expense account before accruals (June 18): $14,000.
Total salaries expense for the month of June: $20,000.
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Ine rights are necessary to purchase one share of fogel stock at $57. a right sells for a $7. the ex-rights value of fogel stock is_______.
Answers
To calculate the ex-rights value of Fogel stock, we need to consider the cost of purchasing one share with the rights and compare it to the cost of purchasing one share without the rights.
The rights allow the holder to purchase one share of Fogel stock at $57, and each right sells for $7. This means that the total cost of purchasing one share with the rights is $57 + $7 = $64.
To determine the ex-rights value, we subtract the cost of the right from the total cost of purchasing one share with the rights. Therefore, the ex-rights value of Fogel stock is $64 - $7 = $57.
Therefore, the ex-rights value of Fogel stock is $57.
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Team players are sought-after employees
True
False
Answers
Answer:
true,
Explanation:
c) What annual payment must you receive in order to earn a 6.5% rate of retur n on a perpetuity that has a cost of $1,250? (5 marks)
Answers
To calculate the annual payment required to earn a 6.5% rate of return on perpetuity with a cost of $1,250, we can use the formula:
Payment = Cost of the perpetuity × Rate of return
Payment = $1,250 × 0.065
Payment = $81.25
Therefore, you must receive an annual payment of $81.25 in order to earn a 6.5% rate of return on the perpetuity with a cost of $1,250.
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