Solution-Report expenses were incurred even though the

Report expenses were incurred even though the expenses

Reference no: EM132473571

Question 1: When an accountant is faced with two (2) acceptable alternatives for reporting an amount, the accounting guideline/principle/constraint that directs the accountant to select and report the amount that will result in less profit, less assets, or less liabilities is __________.

Question 2: The accrual-basis of accounting, which requires companies to report expenses that were incurred even though the expenses were not yet paid, is based on the __________ principle.

Reference no: EM132473571

Questions Cloud

Find firm payables turnover rate : Find your firm's payables turnover rate if accounts payable increase from $68,200 to $69.700, sales equal $942,800, and costs of goods sold equal $543,200.

How long does it take to sell your inventory : You determine that the cost of goods sold is 70 percent of sales. On average, how long does it take to sell your inventory?

Find the miller-orr optimal upper cash limit : Find the Miller-Orr optimal upper cash limit for your firm if $88,343 is needed each week to pay bills, the lower cash limit is $25,000

Calculate the npv of this investment opportunity : Calculate the NPV of this investment opportunity?

Report expenses were incurred even though the expenses : The accrual-basis of accounting, which requires companies to report expenses that were incurred even though the expenses were not yet paid

Find the miller-orr target cash balance : Find the Miller-Orr target cash balance for your firm if $45,200 needed each week to pay bills, the lower cash limit is $12,020

Find the weighted average delay for a firm : Find the weighted average delay for a firm that receives the following payments: $82,900 with 2.5 days collection delay

Determine and computing return on equity : Determine and Computing Return on Equity. Compute its return on equity for 2015. Starbucks reports net income for 2015 of $2,634.4 million.

What is the break-even quantity for the credit policy : What is the break-even quantity for the credit policy change if the monthly interest rate and variable cost per unit is 0.45 percent and $24, respectively?

User Account

All Pages

Report expenses were incurred even though the expenses

Reference no: EM132473571

Reference no: EM132473571

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

What is Heywood casualty loss from the tornado

What are liquidity measures

What is the correct journal entry for winters

What categories of inventory does the company show

Value-added for a merchandise company

Assume nortel networks contracted to provide a customer

Determine the proceeds that the company will receive

Determine the amount of impairment of goodwill

Calculate the break-even point in sales dollars

If carolina company had net income

How much money can you borrow at present

Calculate the incremental net operating

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT