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dezoksy [38]
2 years ago
10

In addition to issuing accounting standards, the FASB has formulated a conceptual _______ to provide an underlying theoretical a

nd conceptual structure for accounting standards.
Business
1 answer:
Sophie [7]2 years ago
7 0

Answer:

Framework

Explanation:

Accounting theories are usually bound together by an appropriate conceptual framework. The conceptual framework provides or becomes the basis of the concepts and theories that underline any set of accounting standards that govern the financial practices of businesses in an area.

The Financial Accounting Standards Board, has defined the objectives of financial reporting especially by business organisations within the private and public sector. The underlying theories and concepts that guide these defined and outlined standards for financial reporting set by the FASB is clearly defined in its Conceptual Framework.

Once, there are changes in underlying accounting theories, these are clarified in the framework before they become a standard for financial reporting.

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A firm hires labor, capital, and land to produce grapefruits. currently the marginal product of the last unit of labor input is
umka21 [38]

Answer:

$100

Explanation:

the marginal product per dollar spent on labor = 40 units / $20 = 2 units per dollar

the marginal product per dollar spent on capital = 60 units / $30 = 2 units per dollar

the marginal product per dollar spent on land = 2 = 200 / $X

$X = 200 / 2 = 100 ⇒ the cost per unit of land is $100

The marginal product per dollar spent on a factor of production (labor, capital or land) is MP(factor)/P(factor). It measures how many additional units of output can be obtained by spending $1 more in a factor of production.

6 0
2 years ago
Oriole Tire Co. just paid an annual dividend of $1.70 on its common shares. If Oriole is expected to increase its annual dividen
Butoxors [25]

Answer:

Cost of common stock is 12.02%

Explanation:

The cost of common stock can be computed from share price formula given below:

share price=do*(1+g)/r-g

do is the dividend just paid which is $1.70

g is the expected dividend growth per year which is 3.10%

r is the cost of common stock which is unknown

share price is $19.65

by changing the subject of the formula:

r=do*(1+g)/share price+g

r=1.70*(1+3.10%)/19.65+3.10%

r=1.7527/19.65+3.10%

r=0.0892+3.10%=12.02%

The company's cost of capital which is also the cost of common stock is 12.02%

4 0
2 years ago
The owner of a valuable painting hired professional movers to transport it to an auction house when she decided to sell it. As t
MAVERICK [17]

Answer:

No. She suffered no physical impact

Explanation:

Negligent infliction of emotional distress occurs when a person engages in an act that can cause  severe emotional distress to another .

The plaintiff must be able to prove that the act was done willfully or provide an evidence that

  • It was a result of defendant's negligence
  • Plaintiff suffered emotional distress a direct  result of the action
  • The action was foreseeable by the defendant
  • The plaintiff was in a danger zone

before he can win a claim.

The question here is how to prove emotional stress? The plaintiff must be able to show a verifiable physical injury that is linked to the emotional distressed suffered.

7 0
2 years ago
The Work in Process Inventory account had a beginning balance of $16,200 on April 1. During April, the cost of direct materials
zhenek [66]

Answer:

$28,700

Explanation:

We know that

Ending work in process inventory = Opening work in process inventory + total manufacturing cost - cost of finished goods manufactured

where,

Total manufacturing cost = cost of direct materials used + direct labor cost + overhead  cost

= $408,000 + $56,000 + $72,000

= $536,000

So, the ending work in process inventory would be

= $16,200 + $536,000 - $523,500

= $28,700

4 0
2 years ago
Kendra is concerned about the wavy red lines she sees under some words in
kondor19780726 [428]

Answer:

Explanation:

adding the name and version of her software program

5 0
2 years ago
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