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stich3 [128]
2 years ago
10

Choose the option that correctly completes the statement: ""A change in depreciation method is considered a _________ and theref

ore it is treated _________ . A disclosure is ________."" a. Change in accounting principle; prospectively; not required. b. Change in accounting principle; retrospectively; required. c. Change in estimate; prospectively; required. d. Change in estimate; retrospectively; not required.
Business
1 answer:
Archy [21]2 years ago
8 0

Answer:

Option B Change in accounting principle; retrospectively; required.

Explanation:

The reason is that the change is policies are considered in the international accounting standard IAS-8 Accounting policies, estimates and correction of errors. The standard says that the change in depreciation method is considered as a change in accounting policy which must be treated as retrospectively which means that the adjustments must be made to all the previous years using the same depreciation and must reflect the change in Changes in Wquity statement. This change in accounting policy as per the requirement s of the standard, must be disclosed in the notes to financial statements. Furthermore the changes in equity must only be opted if it increases the truth and fairness of the financial statement.

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A business executive once stated, "depreciation is one of our biggest operating cash inflows." do you agree? explain.
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Depreciation charges are the attention to the Accumulated Depreciation account, which is a noncash equity sheet account. Depreciation is combined to that account in order to adjust net income for all of the charges in the noncash equity sheet account appeared in the period.
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1 year ago
Sam is getting his bachelor's degree. During some of his course work, he honed his research skills and learned to
AleksandrR [38]

The correct answer is Journalism

Explanation:

Journalism is one of the careers that most require the use of communicative and research skills. This is because journalists are expected to gather information about important local, national and global events, which requires the use of research skills, and later they are expected to communicate the information precisely, concisely, and confidently, which requires the use of communicative skills. In this context, the career Sam is preparing for is journalism because this is the only one from the options that would require Sam to research and then communicate information confidently.

4 0
2 years ago
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People’s experiences can aid them in their careers. Experiences are best described as
juin [17]

Answer:

Experiences is best described as the collection of things a person has done.

Explanation:

Experience is knowledge in a particular job or activity that you have gained because you have done that job or activity for a long time.

So, people's experiences can aid them in their careers, since it gives knowledge and skills gained trough time and doing a particular task.

8 0
2 years ago
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Irene invested $27,000 in a twelve-year CD bearing 8.0% interest, but needed to withdraw $6,000 after three years. If the CD’s p
stepladder [879]

$5,040 since Irene earned nearly earned about $4,800 less than what she would be making if she did not make her early withdrawal.

8 0
2 years ago
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“E-Commerce is a boon to small scale enterprises, `entrepreneurs and customers”. Explain.
Mumz [18]

Answer:

SMEs have realised the importance of E-commerce and using it to gain growth and sustainability.

Explanation:

E-commerce has been a revolutionary step for small scale enterprises and customers towards ease of doing business and e- commerce has helped business to grow and expand. It has helped enterprises to increase their revenue, low operational cost and online presence. Customers can buy goods and services just by a click. They prefer e-commerce because everything is accessible online.

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