Mention any three areas in which different accounting policies may be followed by different business enterprises operating
Question:
Mention any three areas in which different accounting policies may be followed by different business enterprises operating in different conditions. Support your answer with suitable examples.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (2 reviews)
Different business enterprises operating in varying conditions may adopt different accounting policies to accommodate their unique situations These di...View the full answer
Answered By
Utsab mitra
I have the expertise to deliver these subjects to college and higher-level students. The services would involve only solving assignments, homework help, and others.
I have experience in delivering these subjects for the last 6 years on a freelancing basis in different companies around the globe. I am CMA certified and CGMA UK. I have professional experience of 18 years in the industry involved in the manufacturing company and IT implementation experience of over 12 years.
I have delivered this help to students effortlessly, which is essential to give the students a good grade in their studies.
3.50+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...
-
Consider a dynamic array where the capacity doubles when additional space is needed and shrinks by 50% when the size falls below 1/4 capacity. What will be the amortized big-O of an append()...
-
Find Vo in the network in figure using meshequations. 4 12 V +- . 4 K; 4 K) 4
-
On June 1, Alexander Corporation sold goods to a foreign customer at a price of 1,000,000 pesos. It will receive payment in three months on September 1. On June 1, Alexander acquired an option to...
-
Consider the gasoline mileage data in Table B.3. a. Fit a multiple linear regression model relatmg gasoline mileage $y$ (miles per gallon) to engine displacement $x_{1}$ and the number of carburetor...
-
Metallica Can Opener Company is a subsidiary of Maltz Appliances, Inc. The can opener that Metallica produces is in strong demand. Sales this year are expected to be 1,000,000 units. Full plant...
-
Maxey & Sons manufactures two types of storage cabinets-Type A and Type B-and applies manufacturing overhead to all units at the rate of $128 per machine hour. Production information follows....
-
Explain the provisions of AS-14 about the purchase method of accounting for amalgamation. Also explain with the help of a suitable example, the concept of purchase consideration.
-
Convention of full disclosure means (a) Publishing all the information in the news paper (b) Publishing final accounts in the news paper (c) Giving all the necessary and price sensitive information...
-
Should public funding be used for prevention programs if money could be saved in the future?
-
Define a Bank Reconciliation and why they are done. Why are they important to the company? Discuss which internal control principles you think are the most important to safeguard cash receipts and...
-
Block Aight Peace Company Implements normal costing for its production. The following data are provided during the current year: New purchases of raw materials during the year, P500,000. Total Labor...
-
The credit manager of a substantial wholesale trading firm received a visitor who gave his name as Crispin dela Cruz. He was a Sales Engineer in a construction firm who wanted to go business for the...
-
Given data below to solve these questions. 1. A. Initial investment: $125,000 Sound Cellar Pro Gamer Net Cash Cumulative Net Net Cash Cumulative Net Flow Cash Flows Flow Cash Flows Year 1 $ 65,000 $...
-
A firm with a 13% WACC is evaluating two projects for this year's capital budget. After-tax cash flows, including depreciation, are as follows: 0 1 2 3 4 5 + + + $1,000 $1,000 $1,000 -$9,000 $2,800...
-
Vince's Pizza delivers pizzas to dormitories and apartments near a major state university. The company's annual fixed costs are $48,000. The sales price averages $9, and it costs the firm $3 to make...
-
Listed below are several terms and phrases associated with basic assumptions, broad accounting principles, and constraints. Pair each item from List A (by letter) with the item from List B that is...
-
Beginning inventory, purchases, and sales for item (QED9) are as follows: Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) The cost of merchandise...
-
Beginning inventory, purchases, and sales for item MMM8 are as follows: Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) The cost of merchandise...
-
Assume that the business in Exercise 6-5 maintains a perpetual inventory system, costing by the first-in, first-out method. Determine the cost of merchandise sold for each sale and the inventory...
-
Tony is 28 years old and just received a job offer to work for a marketing firm in Waterloo Ontario. This is Tony's first job in Canada. The company that made Tony the offer, has a defined...
-
Brian contributes to his RRSP and RESP. Brian is the sole subscriber of the RESP for his son, Peter. Peter passed at the age of 15 due to an unexpected illness. At the time of death, the RESP was...
-
How does a house account differ from other types of accounts? Give at least one example to explain your reasoning.
Study smarter with the SolutionInn App