Answer:
a) I, RES, B
Explanation:
Mainly there are four types of financial statements i.e Income statement, statement of retained earning, balance sheet and the cash flow statement
In the income statement, the total revenues and the total expenses are recorded.
If the total revenues are more than the total expenditure then the company earns net income.And, If the total revenues are less than the total expenditure then the company have a net loss
This net income or net loss would reflect in the statement of the retained earning account.
The statement of retained earning represent the beginning balance, net income or net loss and dividend amount. These items are used to calculate the ending balance of the retained earning account.
In the balance sheet, the assets, liabilities, and stockholder equity is recorded. In this the accounting equation is used which is shown below:
Total assets = Total liabilities + stockholder equity
The debit and credit side of the balance sheet should always be equal and balanced.
Moreover, it always is prepared on the specified date.
The cash flow statement involves three activities i.e operating, investing and the financing activities
1. Operating activities: It includes those transactions which affect the working capital, and it records transactions of cash receipts and cash payments.
2. Investing activities: It records those activities which include purchase and sale of the fixed assets
3. Financing activities: It records those activities which affect the long term liability and shareholder equity balance.
Hence, option a is correct
The financial statements for a business—Income Statement, Retained Earnings Statement, and Balance Sheet—are generally prepared in this order due to the dependency of each statement on the previous one's information. The process begins with the Income Statement, moves on to the Retained Earnings Statement, and concludes with the Balance Sheet.
The three financial statements—Income Statement (I), Retained Earnings Statement (RES), and Balance Sheet (B)—are typically prepared in the following order: first, the Income Statement; second, the Retained Earnings Statement; and lastly, the Balance Sheet. The reason for this order is that each statement builds upon the previous one.
Income Statement (I) is prepared first because it summarizes the company's revenues, expenses, and net income for a specific period. Reflecting the firm's operating performance over that period, it provides the necessary figures to prepare the Retained Earnings Statement (RES).
The Retained Earnings Statement (RES) illustrates changes in retained earnings for the same period as the income statement. It takes the net income from the Income Statement and applies it to the formula Beginning Retained Earnings + Net Income – Dividends = Ending Retained Earnings. The RES then provides the ending retained earnings needed for the Balance Sheet (B).
Finally, the Balance Sheet (B) is prepared. It relies on information from the previous two statements, providing an overview of the company's financial position at a specific point in time. The Balance Sheet lists the company’s assets, liabilities, and shareholders' equity, which includes the ending retained earnings from the Retained Earnings Statement.
As such, the order for preparing these statements would be option (a) I, RES, B.
#SPJ6
Answer:
Intellectual capital and knowledge assets.
Explanation:
Intellectual capital and knowledge assets are the two names for the assets that reside within the minds of members, customers, and colleagues and include physical structures and recorded media. Intellectual capital can be defined as an intangible asset or collective knowledge of employees or individuals working in an organization, which has the potential to contribute to the development, as well as generate value for the organization.
On the other hand, a knowledge asset is the sum total (cumulative) of the intellectual resources possessed by an organization and by extension contributes to its success.
Intellectual capital and knowledge assets are the two names for the assets that reside within the minds of members, customers, and colleagues and include physical structures and recorded media.
The two names for the assets that reside within the minds of members, customers, and colleagues and include physical structures and recorded media are intellectual capital and knowledge assets. Intellectual capital refers to the collective knowledge, skills, and expertise of individuals within an organization, while knowledge assets encompass both explicit and tacit knowledge stored in various forms such as documents, databases, and people's minds.
#SPJ3
B) social responsibility differences between similar firms, but in different countries.
C) difference in corporate social initiatives in foreign nations.
D) the need for whistleblowers abroad.
Answer:
B) social responsibility differences between similar firms, but in different countries
Explanation:
Remember, JD was amazed to see the difference in working conditions in the developing nations where he visited, compared to similar operations in the U.S.
Thus, it shows the reality of the differences in how firms are socially responsible across countries. His experience therefore reaffirms the need for developing countries to improve working conditions by been socially responsible.
Answer:
C. at least several
Explanation:
Competitive advantage refers to a favorable situation or position a business enjoys over it's competitors owing to it's specialization or strength in performing a specific operation.
For example, in case of telecommunication, one company's competitive advantage could be superior network coverage with lower call drops than it's competitors.
In order to survive and grow, a business should try and gain competitive advantages in at least several fields and yet at the same time retain and maintain those competitive advantages over a period.
Answer:
$13.5
Explanation:
Alice worekd a total of 44 hours
Regular hours = 40 hours
Excess hour = 4 hours
Assusuming hourly rate = R
it means that (40x R)+( 4 x 1.5 R) = 621
= 40R + 6R =621
46R =621
R=621/46
Hourly rate = $13.5
B. Stockholders have no control over the management.
C. Large bank loans become more difficult to obtain.
D. The company faces more government regulations.
The company faces more government regulations is one disadvantage for a company that goes public. Thus, option (d) is correct.
When a firm becomes public, the company has less discretion to take certain actions without board approval and the support of a majority of shareholders.
When promoters drastically diluted their share after going public, this was the worst outcome. A disadvantage of going public is that a lot of the information and financial statistics about the company become public.
Therefore, option (d) is correct.
Learn more about on company, here:
#SPJ6
According to the question, you may be charged sales tax when you purchase an item in a store.
A sales tax refers to the tax that is imposed on goods and services. This tax is a consumption tax that is imposed by the government.
The retailer collects the sales tax on behalf of the government and which is later remitted to the purse of the government. The retailer remits the sales tax either monthly or quarterly. Any businesses that operate in any environment where the sale tax law exists are liable to pay sales tax.
The end-users of the product or services offered by a company are charged for a sales tax. The sales tax rate is different among states in the US, it ranges from 1.7% to 9.45%. There are also some states with local sales tax laws.
There are 5 States in the US that do not charge sale tax on purchases. These states includes:
However, in some of the five states, the local municipalities are allowed to charge sales tax. Also for the company to collect tax from consumers they have to apply for a sales tax permit. While some states require a fee to get the permit, some state grants the permit at no charge.
LEARN MORE:
KEYWORDS: