True False
Q: 2. The cash settlement of all liabilities is referred to as realization. 1 1. Liquidation is the…
A: In case of interlinked question, as per bartleby guidelines answer first three only 1) When the…
Q: _2. An existing line of credit that a consumer can use at a store is called an acquisition account.
A: an existing line of credit that a consumer can use at a store is not called an acquisition account
Q: to refer to the degree of uncertainty that the future economic benefits associated with the item…
A: Probability refers to the possibility of a uncertain event take place in the future. Generally, an…
Q: 13. When Joshua purchased Jasmin's P1,000,000 capital interest for 12. When Joshua purchased…
A: 1. False. A partnership firm can be dissolved any time with the consent of all the partners whether…
Q: Identify if the statement is True or False 1. All allowances are non-taxable 2. If the monthly…
A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…
Q: 3. The Philippine Financial Reporting Standards Council (PFRSC) has formulated its own accounting…
A: Explanation : The Philippines has adopted the IFRS Standards as Philippine Financial Reporting…
Q: 9. If profit or loss is #100 while other comprehensive income is $20, total comprehensive income…
A: NOTE : As per BARTLEBY guidelines, when multiple independent questions are given then first question…
Q: ROBLEM 1: Interest receivable is computed by multiplyir amount of a note by the effective interest…
A: “Since you have posted a question with many sub-parts, we will solve three sub-parts for you. To get…
Q: An expense is recognized immediately in the statement cs comprehensive income when expenditure…
A: An expenditure that produces the future economic benefit over some periods is capitalized in the…
Q: PAS 1 encourages, but does not require, the disclosure of an entity's domicile and legal form, its…
A: Incorporation:- When business comes into existence in the name of a sole proprietorship,…
Q: revaluation or restatement of assets and liabilitie:
A: Equity is calculated by deducting total liabilities from total assets. It can be more clearly…
Q: _4. Many credit card companies allow you to review your account statement online.
A: A credit card allows individuals to take a loan from the bank when required within the limit…
Q: Revenues are increases in equity from a company's sales of products and services to customers. 2.…
A: Net Income = Total Revenue - Total Expenses
Q: The elements that are directly related to the measurement of profit are assets, liabilities, and…
A: The profit is recognized by an entity at the instance where the assets are increasing, or the…
Q: 3. The measurement basis most commonly adopted by entities in preparing their financial statements…
A: Measurement basis: This implies to the basis that is used for recording and valuing the company's…
Q: 34. Dissolution is always followed by liquidation. . 0 The amount of asset revaluation when a new…
A: partnership between partners to share profit and loss and contribute capital in the aggred ratio .…
Q: _6. The unpaid-balance method computes finance charges based on the portion of the account balance…
A: Given statement is false. Explanation- The unpaid-balance method computes finance charges based on…
Q: An effective process of capital allocation promotes productivity and provides an efficient market…
A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…
Q: T/F Statement of Cash Flows maintain the same structure as those in the private sector.
A: Cash flow statement is a financial statement that provides aggregate information regarding all cash…
Q: 4. Financial Management, this area focuses on the decisions made by businesses and individuals as…
A: Required: To state TRUE or FALSE
Q: Behavior True False Asset bubbles tend to be corrected by a reversion of market prices toward the…
A: Yes, the first statement is true because asset price is mean-reverting i.e. intrinsic value. If the…
Q: 6. From a borrower's perspective, interest if the fee paid on an amount of money, whether loaned or…
A: The questions are related to True or False. This is due to interest and fees, which is what a lender…
Q: .41. A retiring partner from the partnership may receive bonus from the remaining partner. 42. A…
A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…
Q: 5. Manufacturing costs that cannot be classified as direct materials or direct labor are classified…
A: Overhead means the cost incurred indirect in factory for the production of goods. Manufacturing…
Q: On Day 1, Tomay Co. commits to sell a financial asset. The sale transaction will be settled on Day…
A: A financial asset can be sold and purchased by two entities. The recognition of sale occurs at the…
Q: Triniville Co. commits to purchase a financial asset on Day 1. The transaction will be settled on…
A: An asset purchased or sold can be recognised and de-recognised in the books of the purchaser and…
Q: 9. The main difference between the SFP of a service company and of a merchandising company lies on…
A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for…
Q: If a firm's tangible assets are measured at their fair (intrinsic) value, one must forecast that…
A: Fair (Intrinsic) value: When the price of tangible assets such as buildings, machinery, etc. is…
Q: hance, a profit is period exceeds the amount of net assets at the beginning of the earned only if…
A: Physical capital maintenance : The physical capital is where capital of an organisation is regarded…
Q: True or False: 5. The two types of financial capital are equity and debt.
A: Since you have posted multiple questions we will do the first one for you. To get the remaining…
Q: 11.An insurance contract is a contract of adhesion. 12.Any party to a contract can agree on any…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: The Conceptual Framework is not an IFRS.
A: IFRS is an acronym of International Financial Reporting Standards The IFRS provides the standards…
Q: Wihe new partner will never receive a bonus when they join the partnership. . Partnership assets…
A: Basic Concept of Partnership Accounting
Q: The nominal interest rate is always greater than the effective interest rate.
A: False, effective rate of interest is always greater than nominal interest rate if period of…
Q: omit the notes w al statements. is P100 while other c rehensive income mus ges, but does not req e…
A: Financial Statements-:Financial Statements are the annual reports of a company that furnish the fact…
Q: 10. A depiction to be a perfectly faithful representatión should be complete, relevant, and free…
A: Faithful representation: It implies to the honest presentation of company's financial statements, by…
Q: entity had net purchases of P100. If inventories had a net decrease of P20 during the year, the cost…
A: The manufacturing company would be needed a purchases with efficient work. The output would be good…
![Selling off assets are profits not
paid out to the business
owners but instead kept by a
business to invest in more
assets. *
True
O False
At the beginning of the
economic crisis, XYZ decided
to increase the price of its soft
drinks by 5% which was a
reason for a significant fall in
demand and total sales
revenue. Therefore, consumer
demand for that product is
said to be price inelastic. *
O True
O False](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F182299df-a50d-48fd-9ea3-cd0f678236dd%2F7265f91d-2ac4-468e-bd2f-a2e3dea326ed%2Fvos3yfb_processed.jpeg&w=3840&q=75)
![](/static/compass_v2/shared-icons/check-mark.png)
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
- XYZ Company wishes to gain more market share. In order to do that, the company is planning to double the current production and sales quantity. At the same time, the company plans to decrease the selling price per unit by half. Assuming that the total fixed cost and the variable cost per unit remain unchanged, what would be the effect on profit? O a. Cannot be determined using the information in the question. O b. None of the given answers Oc. Profit would increase O d. Profit would remain unchanged Oe. Profit would decreaseXYZ Company wishes to gain more market share. In order to do that, the company is planning to double the current production and sales quantity. However, due to increase in production capacity , the fixed cost is also expected to double. Assuming that the selling price per unit and the variable cost per unit remain unchanged, what would be the effect on profit? à. Profit would decrease b. Profit would increase С. None of the given answers d. Cannot be determined using the information in the question. e. Profit would remain unchanged O O 0XYZ Company wishes to gain more market share. In order to do that, the company is planning to double the current production and sales quantity. At the same time, the company plans to decrease the selling price per unit by half. Assuming that the total fixed cost and the variable cost per unit remain unchanged, what would be the effect on ?profit .Cannot be determined using the information in the question a O Profit would remain unchanged b O Profit would decrease .c O None of the given answers .d O Profit would increase e O
- XYZ Company wishes to gain more market share . In order to do that , the company is planning to double the current production and sales quantity . However , due to increase in production capacity , the fixed cost is also expected to double . Assuming that the selling price per unit and the variable cost per unit remain unchanged , what would be the effect on profit ? a. Cannot be determined using the information in the question . b. None of the given answers c. Profit would increase d. Profit would decrease e. Profit would remain unchangedIn response to the weak economy, your company’ssales force is urging you, the sales manager, to changesales terms from 1/10, n/30 to 2/10, n/45. Explain whatthese terms mean and how this switch could increase ordecrease your company’s profits.XYZ Company wishes to gain more market share. In order to do that, the company is planning to double the current production and sales quantity. At the same time, the company plans to decrease the selling price per unit by half. Assuming that the total fixed cost and the variable cost per unit remain unchanged, what would be the effect on profit? O a. Profit would increase Ob. Profit would remain unchanged Oc. None of the given answers O d. Cannot be determined using the information in the question. O e. Profit would decrease on Which of the following statements about margin of safety is false? O a. If only the fixed costs decrease but the number of units sold and unit selling price and unit Fin n.squ.edu.om/mod/quiz/attempt.php?attempt=1893260&cmid=891193&page=3#question-2134787-30 + F1 F2 F3 F4 F6 F7 FB 23 & of 1 4 6 7 Q W E T Y G Y J K C 24 Alt R
- XYZ Company wishes to gain more market share. In order to do that, the company is planning to double the current production and sales quantity. However, due to high commission fees, the variable cost per unit is also expected to double. Assuming that the selling price per unit and fixed costs remain unchanged, what would be the effect on ?profit .a Profit would increase .b Profit would decrease .C Cannot be determined using the .information in the question .d Profit would remain unchanged .e None of the given answers9. Assuming the management chooses the first option, which amount the product lines will be eliminated?a. La-Lisab. Jenniec. Jisood. Rose_____ 10. Assuming the management chooses to discontinue the unprofitable product line, what is the net impact to the Company’s overall profit?a. P 7,000b. P 17,000c. P 13,000d. P 23,000Fast solve plz
- Using your answer to Requirement 1, assume that Reshier Company is considering dropping any model with a negative product margin. What are the alternatives? Which alternative is more cost effective and by how much? (Assume that any traceable fixed costs can be avoided.) Do NOT round interim calculations and, if required, round your answer to the nearest dollar. will add $fill in the blank 8723bbfe4004028_3 to operating income 3. What if Reshier Company can only avoid 182 hours of engineering time and 4,800 hours of setup time that are attributable to Model 1? How does that affect the alternatives presented in Requirement 2? Which alternative is more cost effective and by how much? Do NOT round interim calculations and, if required, round your answer to the nearest dollar. will add $fill in the blank 8723bbfe4004028_5 to operating income2. The sales for T-2 are decreasing and the purchase costs are increasing. The firm might drop T-2 and sell only T-1. Barbour allocates fixed costs to products on the basis of sales revenue. When the president of Barbour saw the income statements (see below), he agreed that T-2 should be dropped. If T-2 is dropped, sales of T-1 are expected to increase by 10% next year, but the firm’s cost structure will remain the same. T-1 T-2 Sales $ 245,000 $ 296,000 Variable costs: Cost of goods sold 79,000 148,000 Selling & administrative 19,000 59,000 Contribution margin $ 147,000 $ 89,000 Fixed expenses: Fixed corporate costs 69,000 84,000 Fixed selling and administrative 21,000 30,000 Total fixed expenses $ 90,000 $ 114,000 Operating income $ 57,000 $ (25,000 ) Required: 1. Find the expected change in annual operating income by dropping T-2 and selling only T-1. 2. By what percentage…Margin of Safety (MOS) in dollars indicates how much sales must decrease before the company will be operating at a loss. TRUE FALSE
![Financial Reporting, Financial Statement Analysis…](https://www.bartleby.com/isbn_cover_images/9781285190907/9781285190907_smallCoverImage.gif)
![Financial Reporting, Financial Statement Analysis…](https://www.bartleby.com/isbn_cover_images/9781285190907/9781285190907_smallCoverImage.gif)