Which of the following statements about cash basis accounting is true? (Select the best answer.
A.The IRS allows all types of corporations to use it
B.It ensures the company always knows how much cash flow it has.
C.It is more complicated than accrual basis accounting.
D.It follows GAAP standards​

Answers

Answer 1

Answer: B.It ensures the company always knows how much cash flow it has.

Explanation:

Cash basis accounting is an accounting method whereby the revenues and expenses are recognized as at the particular time that the cash is gotten or paid out. It should be noted that for the accrual accounting, the income is recognized when revenue is earned and also records the expenses when the liabilities are incurred not taking into cognisance of when the cash is either received or paid.

In cash basis accountant, the expense is debited and the cash is credited in the period that the bill is paid. Finally, it should be noted that the cash basis accounting is not also acceptable under generally Acceptable Accounting Principles (GAAP).


Related Questions

What is one of the advantages of having a F a c e b o o k fan page instead of a personal page? Question 10 options: Receiving fewer personal messages Sending bulk messages Saving time More personal convenience

Answers

Answer: "More personal convenience".

Explanation:

A F acebook Fan Page is a business account.

It represents a company or organization.It offers unique tools as an added advantage for managing and tracking engagement.

One of the advantages is "More personal convenience".

F acebook fan page has the option of keeping personal page of a person separated and not connected to it.

It can be controlled by the privacy settings on the personal page and optimize the publicity for Fan Page.

Hence, the correct option is "More personal convenience".

Answer:

Sending bulk messages

Explanation:

One of the main differences between a Faceb00k profile and a fan page is you can send bulk messages to all your fans. This is according to the provided textbook, which I recommend reading if you want the answers to more of your questions.

Use the information presented in the curve to answer
the following question.
What is the equilibrium price for the product?
$25
$20
$15
$10

Answers

Answer:

20

Explanation:

The answer must be $20 after calculating it.

In 2012 London hosted the Olympic Games. Explain why business and sales within the hospitality and catering sector increased during and after the games.

Answers

The games increased because people came to the area to celebrate their country winning

Which of these are characteristics of successful entrepreneurs?(select four answers)

Confidence,discipline, optimism,& passion

Answers

Answer:

Confidence, discipline, optimism, & passion

Explanation:

You are correct. :)

With a(n) _______, the full amount of the loan is received when the contract is signed, but only the interest is paid over the life of the loan. The principal is then paid on the date that the loan is due. Question 2 options: retirement loan balloon loan line of credit installment loan

Answers

Answer:

Installment Loan

Jaden works for LeoHart. He meets with a team to discuss shareholders’ interests and assign managers to run certain parts of the company.

Answers

Answer:

Jaden have to deal with good products

Explanation:

Jaden have to advertise the product and be good bheaving to them

How the nation’s total income is spread out among its population is referred to as _______. -) workforce -) income distribution -) the enterprise zone -) the poverty rate m

Answers

The answer is 2.
It is referred to as income distribution.

HEYA PAL!!

Answer:

It is referred to as income distribution.

Explanation:

i know the Answer is income distribution because

workforce is the people engaged in work or available for work, either in a country or area or in a particular firm or industry.

the enterprise zone is an area in which state motive such as tax are offered to encourage business investment. meaning it is money for business investments.

and poverty rate is the ratio of the number of people (in a given age group) whose income falls below the poverty line.

so, there is income distribution left because not only it suits the answer but as long as I remember, i knew the definition of it .

Hope it helps!!

Which of the following accurately describes one way that individual goods
differ from public goods?
A. All individual goods are normal goods.
B. Demand for individual goods is always inelastic.
C. Consumer rivalry results in decreasing marginal utility for
individual goods.
D. People can be excluded from using individual goods if they don't
pay.​

Answers

D. People can be excluded from using individual good if they don’t pay
The correct answer is D. People can be excluded from using individual goods if they don't
pay.

Should senior citizens, students, and children be allowed to pay cheaper prices for goods and services

Answers

Answer:

Price discrimination

Explanation:

Price discrimination refers to a marketing tactic in which the seller invoice different prices to clients for the identical type of product or service they are offering to the customers

While on the other hand, In pure price discrimination, the seller charges the maximum price from each customer

Therefore in the given situation, here price discrimination should be used

Yes I agree totally correct love this students..

Economics: Which items make up the marketing mix?

Answers

Answer: Price, Product, Promotion and Place.

Explanation:

Answer:

price, product, promotion and place

Explanation:

plz follow me and give brainliest

Which of the following purchases is a matter of marginal, or incremental, cost-benefit analysis?
A large house
A college education
An alarm system
A surgical procedure
An additional sweatshirt

Answers

Answer:

An additional sweatshirt

Explanation:

Marginal or incremental cost - benefit analysis are costs associated with producing an additional unit of product as well as the benefits associated as a result of the additional unit. Marginal analysis is normally used when a company desires to expand (or increase) production so that they determine if the expansion would result with an increase in profit or not.

This is done by first determining the additional cost associated with the activity change and its benefits, then the costs and benefits are then compared.

As of December 31, the Stanford company has the following information. Use this information to answer questions 1 to 3. Cash $5,000 Accounts Receivable 15,000 Inventory 40,000 Prepaid Insurance 3000 Fixed Assets 100,000 Accounts Payable 15,000 Notes Payable in 5 Months 12,500 Salary Payable 25,000 Notes Payable in 5 years 35,000 Owner’s Equity 98,000 2. What is the company's Working Capital? Question 2 options: 12,500 10,500 15,000 15,500

Answers

Answer:

$10,500

Explanation:

Calculation for Stanford Company's Working Capital

Using this formula

Working capital =Current Assets- Current Liabilities

Where,

Current Assets = Cash + Accounts Receivable + Inventory + Prepaid Insurance

Current Assets = ($5,000 + $15,000 + $40,000 + $3,000) = $63,000

Current Liabilities = Accounts Payable + Notes Payable in 5 Months + Salary Payable

Current Liabilities = ($15,000 + $12,500 + $25,000) = $52,500

Let plug in the formula

Working capital =$63,000-$52,500

Working capital =$10,500

Therefore the Working Capital for Stanford Company will be $10,500

Answer:

10,500

Explanation:

What are the consequences of Real wage unemployment?

Answers

Answer:

Explanation:

Firstly, in a recession, if you cut wages, it will cause a fall in spending because people have less income, this will reduce aggregate demand and therefore lead to lower economic growth. This, in turn, will lead to less demand for labour.

This is a good question, I feel like the person who first responded gave a good detailed academic answer!

Kids Early Start (KES) operates from Monday to Friday. KES provides childcare and educational services for inner-city kids between ages of 3 months and 5 years. It has fixed expenses of $35,000 per week and charges parents $15 per day for each child who attends the program.

Answers

Answer:

Actualmente, más de la mitad de los niños menores de 5 años en Estados Unidos asisten periódicamente a algún tipo de programa de guardería o preescolar fuera del hogar. Las experiencias de estos niños en estos lugares afectarán sus vidas futuras. Para muchas familias, lamentablemente, la educación inicial y el cuidado infantil de buena calidad no están disponibles o no son accesibles.

Con el objetivo de tomar medidas para abordar los problemas que se presentan, la declaración de política de la American Academy of Pediatrics (AAP) titulada, "Educación inicial y cuidados infantiles de calidad desde el nacimiento hasta el jardín de niños" (en inglés), detalla tanto la importancia de la educación inicial y los cuidados infantiles de calidad como lo que su pediatra puede hacer para ayudarlo a encontrar estos servicios cerca de su casa.

Explanation:

Presently, more than half of young children in the United States under the age of five consistently attend some kind of preschool or day care program outside the home.

These kids' experiences there will have an impact on how they live in the future.

What does early childhood education process quality entail?

The daily interactions and activities that children have in ECEC settings that promote development are referred to as "process quality."

Prior research has mainly evaluated process quality through careful observation of the behaviors and interactions children take.

The American Academy of Pediatrics (AAP) policy statement aims to take action to solve the current problems. Unfortunately, many families lack access to or availability of high-quality early childhood education and care.

For more information about American Academy  to refer link

https://brainly.com/question/28147212

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If you took $1,000 and put it into an interest-bearing savings account compounding quarterly at 3%, how much would your fund be worth at the end of one year? A: $1,030.00 B: $1,120.00 C: $1,030.34 D: $1,120.33

Answers

Answer:

C. $1030.34

Explanation:

Given:

Principal = $1,000

Interest = 3%

Number of Times = Quarterly

Time = 1 year

Interest Type = Compound Interest

Required

Amount at the end of the year

To solve this, I'll make use of Amount formula which is;

[tex]A = P(1 + \frac{r}{n})^{nt}[/tex]

Using compound interest notations, the given parameters are:

P = $1,000

r = 3%

t = 1

Quarterly means 4 times a year;

So, n = 4

Solving for Amount (A), the formula becomes

[tex]A = \$ 1000(1 + \frac{3\%}{4})^{4 * 1}[/tex]

[tex]A = \$ 1000(1 + \frac{3\%}{4})^{4}[/tex]

Convert percent to decimal

[tex]A = \$ 1000(1 + \frac{0.03}{4})^{4}[/tex]

[tex]A = \$ 1000(1 + 0.0075)^{4}[/tex]

Solve the expression in the bracket

[tex]A = \$ 1000(1 .0075)^{4}[/tex]

Solve the exponent

[tex]A = \$ 1000 * 1.03033919066[/tex]

[tex]A = \$ 1030.33919066[/tex]

[tex]A = \$ 1030.34[/tex] (Approximated)

Hence, the amount at the end of the year is approximately $1030.34

your answer should be C $1,030

Assume your city government has been contacting with a single garbage collection firm that has been granted an exclusive franchise, the sole right, to pick up trash within your entire city limits. However, it has been proposed that companies be allowed to compete for business with residents on an individual basis. The city government has estimated the price residents are willing to pay for various numbers of garbage collections per month and the total cost facing the garbage collector per resident as shown in the following table.

Pickup (Q) Price/Pickup Total Revenue (TR) Marginal Revenue (MR) Total Cost (TC) Marginal Cost (MC) Average Total Cost (ATC)
0 $4.20 0 --- $3.20 --- ---
1 $3.80 $4.20
2 $3.40 $5.60
3 $3.00 $7.80
4 $2.60 $10.40
5 $2.20 $13.40
6 $1.90 $16.80

1. What are the fixed costs per month of garbage collection per resident? Explain your answer
2. Considering that the current garbage collection firm the city has contracted with has a monopoly in garbage collection services, what is the current number of collections residents receive per month and the price charged residents for each collection? What is the economic profit received from each resident by the monopoly firm? (Note: Profit received form individual resident must be calculated a per unit basis)
3. If competitive bidding were allowed and therefore a competitive market for garbage collection services developed, what would the number of collections per month and the price charged residents per collection? What is the economic profit received from each resident by the competitive firm? (Note that in a competitive market (chapter 13), P=MC=MR)
4. Based on the above analysis, should the city government allow competitive bidding? Why? Would you expect there to be any quality differences between the monopolistic and competitive trash collection firms?

Answers

Answer:

collect and recycle

Explanation:

Which of the following does not promote increased international trade and economic growth?

A. High tariffs
B. Technological improvements
C. Industrialization
D. Trade liberalization​

Answers

Answer:

High Tariffs              

The answer is A) High Tariffs
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