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Prospective Financial Information (forecast and projection) - Forecast: Prospective financial statements which present, to the best of responsible party's knowledge and belief, an entity's expected financial position, results of operations and changes in financial position. A financial forecast is based on responsible party's assumptions reflecting conditions it expects to existand course of action it expects to take. Projection: Prospective financial statements that present, to the best of responsible party's knowledge and belief, given one or more hypothetical assumptions, an entity's expected financial position, results of operations and changes in financial position.
Tom Scott is the owner, president, and primary salesperson for Scott Manufacturing. Because of this, the company's profits are driven by the amount of work Tom does. If he works 40
The following information is for the third quarter of this year: Planned Actual Production 92,000 units
State the term Reliability- Accounting Information Accounting must be free from significant error or bias. It must be capable of being relied upon by managers to represent
Investment Tax Credit - This is a component of general business credit and comprises the following: 1. Energy credit 2. Rehabilitation credit 3. Reforestation credit
Q. Which of the following is not true of a corporation? a. It may buy, own, and sell property. b. It may sue and be sued. c. The acts of its owners bind the corporation. d. It may
Trade Sources of Information Within for instance the credit card industry it isn't uncommon for information on an individual's credit rating to be shared. In a alike vein withi
Presented below are four independent situations which you as a Manager Trainee employed with Your Company have been asked to evaluate. Evaluate each situation based on what each re
Q. Explain about Short-term bank loans and Overdrafts? Short-term bank loans and Overdrafts. The symptom are that Vertid is unlikely to obtain further finance from its bank alt
Q. Explain Productivity linked bonus? The grant of productivity-linked bonus is intended to provide substantial motivation towards achieving higher productivity by way of incre
Persons Who May Petition A petition may be presented by any of the following: A Creditor : A creditor may petition if his debt exceeds Shs 1,000 and is undisputed. The ord
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