What is the reporting entity concept?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 64% (14 reviews)
The reporting entity concept states that economic eve...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Accounting Principles
ISBN: 978-1119048503
7th Canadian Edition Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
Question Posted:
Students also viewed these Managerial Accounting questions
-
What is the reporting entity assumption? How does it affect the scope of financial reporting?
-
The concept of the reporting entity is a fundamental accounting concept, one that pervades all of accounting. Required: 1. What is a reporting entity? Explain why the reporting entity concept is so...
-
Explain how the reporting entity concept applies to business organizations.
-
Suppose that a telephone switchboard of some company on the average handles 300 calls per hour, and that the board can make at most 10 connections per minute. Using the Poisson distribution, estimate...
-
Does cumulative preferred stock in the capital structure of an investee affect the way that an investor accounts for its 30 percent common stock interest? Explain.
-
Exhibit 7.60.1 contains an arrangement of examples of transaction errors (lettered a g) and a set of client control procedures and devices (numbered 1 15). Exhibit 7.60.1 Required: For each client...
-
Compare the field work in social media research to traditional field work.
-
Myles Murphy was appointed by Cy Sinden, a famous developer, to purchase land for a shopping center near the intersection of I-95 and Route 1. Mary Mason, the property owner, contracted with Murphy...
-
Number of units sold Selling price per unit Unit cost of goods sold Variable selling expense per unit Total fixed selling expense Variable administrative expense per unit Total fixed administrative...
-
Jerrys Jellies sells one-and two-year mail-order subscriptions for its jelly-of-the-month business. Subscriptions are collected in advance. An analysis of the recorded sales activity revealed the...
-
Why are there two sets of standards for profit-oriented enterprises in Canada?
-
Describe the fundamental qualitative characteristics of relevance and faithful representation.
-
The problem of passenger congestion prompted a large international airport to install a monorail connecting its main terminal to the three concourses, A, B, and C. The engineers designed the monorail...
-
(a) Verify that the transitions in the state- machine diagram in Figure 4-27 obey the two transition conditions for state diagrams. (b) Repeat part (a) for the state-machine diagram in Figure 4-28....
-
System designers and system builders also tend to have very different views of system building blocks. Explain the different ways that designers and builders might view the communication building...
-
As business technology becomes more powerful and sophisticated, many businesses are redesigning their single-function information systems, such as sales, into cross-functional information systems...
-
Calculate the percentage of the tax borne by the demander and supplier in each of the following cases: a. ED = 0.3, ES = 1.2 b. ED = 3, ES = 2 c. ED = 0.5, ES = 1 d. ED = 0.5, ES = 0.5 e. Summarize...
-
Interview at least one person in marketing, customer service, and accounting/payroll in the same company: What types of information do they handle? Do they share information across departments? Do...
-
Give the output of the method parenthesize(T, T.root( )), as described in Code Fragment 8.26, when T is the tree of Figure 8.6. Fragment 8.26 Figure 8.6 3 3 5 4
-
Explain why each of the following is either a private good or a public good: traffic lights, in line skates, a city park, a chicken salad sandwich, a tennis racket, national defense, a coastal...
-
Leo Legal Services enters into a written contract to provide one month of legal service to J & J Home Inspections. Leo tells J & J that he can do the work required for a fee of $5,000. At the end of...
-
Below is a list of specific revenue recognition terms discussed in the chapter. 1. ______ Enforceable right to receive consideration 2. ______ Critical event 3. ______Performance obligation 4. ______...
-
Consider the following events for Byer's Innovations Co. that occurred during 2017. 1. Leased factory space from Whole Properties Company for a one-year period starting November 1, 2017. Six months...
-
Places and people differ. The Japanese tend to be very polite, the Australians characteristically blunt. Red means danger or stop to the British, but in Turkey it signifies death, and in China, good...
-
5. Solve the linear inequality. Graph the solution set on a number line. 7(x+4)-13 < 12 + 13(3 + x)
-
Can you delineate the role of central banks as key stakeholders in the financial ecosystem, elucidating their functions as monetary authorities responsible for price stability, lender of last resort...
Study smarter with the SolutionInn App