rovide a rationale for the expense based on the given problem. Also, explain what is rationale since it's unfamiliar to me.

Q: Please answer with reason for all why the option is correct and why the other options are incorrect…

A: Expense recognition principle is one of accounting principle being used in business. This says all…

Q: The definition of Materiality is: c. accuracy is always the most important consideration regardless…

A: The objective of the question is to identify the correct definition of Materiality in the context of…

Q: Is corrective action always necessary when actual costs are higher than standard costs

A: A company which manufactures products and goods keeps a sharp eye on its costs. When the actual cost…

Q: The relationship of theory to measurement is very important. Measurement is the assignment of…

A: Arguments for the use of historical cost:1. Objectivity: Historical cost is based on actual…

Q: he following statements are incorrect, except a. Cost is the same with expense. b. All costs…

A: Cost accounting refer to the outflow of money for the purpose of acquiring assets, producing goods…

Q: In your own words explain the meaning of: a. differential revenue, b. differential cost, and c.…

A: In accounting, Differential means the difference between the two alternatives or two output levels,…

Q: Which of the following statements about a sunk cost is false? Question 11Answer a. It is relevant to…

A: In cost accounting, several type of cost classifications are there. These are like direct costs,…

Q: How do you think the miss statement of fines will impact the important statement and balance sheet.

A: Given: The impact on income statement and balance sheet due to misstatements of funds.

Q: The expense recognition principle requires that efforts be matched with accomplishments Select one:…

A: The matching principle is an accounting concept that dictates that companies report expenses at the…

Q: Describe the different approaches of expense recognition.

A: Expenses are being recognized when the revenues and relevant expenses are matched for the same…

Q: Which of the following statements about the financial risk to providers under different…

A: Risk is the most under capitation.Here's why the reason is:This is accurate that, regardless of…

Q: Dish N' Dat Company Product-Line Income Statement For the Month Ended May 31 Bowls Plates Cups Sales…

A: Discontinued operations describes a part of a firm's operations that have been divested or shut…

Q: Discuss the risks associated with short selling an asset. Use examples and empirical evidence in…

A: A short-selling of an asset or stock means that the investor sells the borrowed securities…

Q: Explain an example of deferred expense.

A:

Q: The cost recovery deduction is taken after

A: Tax or Taxes: Tax is an amount paid by the persons (individuals and business entities) to a…

Q: Define and discuss survivorship bias and selection bias, and how they affect reported returns of…

A: Survivorship bias is a type of bias in which a person has a tendency to view the performance of…

Q: One cost that is irrelevant in decision making is a sunk cost Group of answer choices True False

A: Sunk costs are those costs that are already incurred and it is irrelevant for the decision-making as…

Q: Abstract report on; The high cost of doing nothing.

A: There is an opportunity cost of anything we do. For example, a business organization opts to…