Discuss why it might not be sufficient for a small business person who is carrying on business
Question:
Discuss why it might not be sufficient for a small business person who is carrying on business as a sole trader to prepare accounts on a cash flow basis.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 40% (10 reviews)
A cash flow basis does not include all of the transactions that have oc...View the full answer
Answered By
Milbert Deomampo
I have been tutoring for over 3 years and have experience with a variety of students, from those who are struggling to keep up with their class to those who are looking to get ahead. I specialize in English and writing, but I am also proficient in math and science. I am patient and adaptable, and I work with each student to find the best methods for them to learn and retain the material.
0.00
0 Reviews
10+ Question Solved
Related Book For
Financial Accounting And Reporting
ISBN: 9781292255996
19th Edition
Authors: Barry Elliott, Jamie Elliott
Question Posted:
Students also viewed these Business questions
-
Why is it so important for a small business owner to develop a management succession plan? Why is it so difficult for most business owners to develop such a plan? What are the steps that are involved...
-
Discuss why it might be important to your client to adopt International Accounting Standards even though they are currently only operating domestically throughout the central part of the United...
-
Why is it important for a small business owner to create a plan for establishing a competitive advantage?
-
Explain why it has been suggested that the new rules in IFRS 16 could bring the biggest shake-up to retailers financial statements for decades.
-
The National Highway Traffic Safety Administration has studied the use of rear-seat auto-mobile lap and shoulder seat belts. The number of lives potentially saved with the use of lap and shoulder...
-
Do research to find out how the school can sign up for this program and what hardware and software is required.
-
The company is committed to ethical conduct and has no tolerance for fraud and unethical behavior. There are some concerns about abuses in your department. Do you know anything about the concerns I...
-
Matching Funds with Transactions. Choose the letter of the sample transaction in the right-hand column that would most likely be reported in the fund listed in the left-hand column. Fund Example 1....
-
1. An object of mass of 4 kg is resting at a height of 2 m and then falls to the ground. a. Model the energy of the object-Earth system with Energy Bar Charts when at the initial height and ground...
-
1. Given the information provided by the financial statements, what would you tell Mary Abrahams? (As part of your answer, calculate the firm's cash flows.) 2. How would you describe the cash flow...
-
Unrealised operating cash flows are only of use for internal management purposes and are irrelevant to investors. Discuss.
-
Explain why realised cash flow might not be appropriate for investors looking to predict future dividends.
-
Based on your analysis, you think that next years return for General Foods will range from 1 to 15 percent as described earlier. The expected value of the probability distribution for General Foods...
-
A sample of 20 cups of coffee from a coffee machine has a mean amount of coffee of 6 oz. The standard deviation is known to be .5 oz. Construct a 99 % confidence interval for the mean amount of...
-
The Better Health Cereal Company produces Healthy Oats cereal. A sample of 15 boxes of this cereal indicates that the mean weight of a box of cereal is 24 oz with a standard deviation of 1 oz....
-
In October 2012, Swedish furniture company IKEA was criticized on the BBC World Service radio for airbrushing women out of IKEAs catalogs distributed in Saudi Arabia. Some womens rights activists...
-
LEGO is everywheretoys, games, books, magazines, competitions, retail stores, theme parks, and now movies. If all of the approximately 400 billion colorful interlocking bricks ever produced by LEGO...
-
A random sample of size 7 is drawn from a population with population variance 2 = 2.5. (a) Determine the probability that the variance of the sample is greater than 7.008. (b) Determine the...
-
If you're in a car at rest that gets hit from behind, you can suffer a serious neck injury called whiplash. What does whiplash have to do with Newton's first law?
-
At the beginning of the year, Lam Ltd. had total assets of $800,000 and total liabilities of $500,000. Use this information to answer each of the following independent questions. (a) If Lam's total...
-
HK Ltd has prepared its draft trial balance to 30 June 20X1, which is shown below. The following information is available: (a) The authorised share capital is 4,000,000 9% preference shares of $1...
-
Phoenix plc trial balance at 30 June 20X7 was as follows: The following information is available: 1. Freehold premises acquired for £1.8 million were revalued in 20X4, recognizing a gain of...
-
The following is an extract from the trial balance of Imecet at 31 October 2005: .:. Other relevant information: (i) One million $1 Ordinary shares were issued 1 May 2005 at the market price of...
-
South Africa has experienced significant power outages since 2 0 0 8 when the national electricity grids started to experience increased demand and a lack of capacity. Electricity supply has been...
-
Each of the following situations below are unrelated: A ) peacock Company follows IFRS. Peacock issues 6 % convertible bonds on June 1 5 , 2 0 2 3 with the following characteristics: Face value of...
-
You are a forensic accountant working for the SA Revenue Services ( SARS ) . You received anonymous information that a certain Mr Botha has not declared all his income for the period 1 March 2 0 2 0...
Study smarter with the SolutionInn App