The accrual basis accounting is the process of accounting which recogines business's revenue and the matching expenses which are generated but not when the money acutally changes hands.
The accural accounting is the method of accounting where the revenues and the expenses are recorded which is eanred unless the money is actually received or paid.
There are 3 basic kinds of accrual basis accounts, the matching expenses which are generated but not when the money acutally changes hands.which are accounts receivable, accounts payable, accrued revenue and the accrued liabilities.
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One can find the change in wealth from an investment by subtracting the present value of its required investment from the present value of its future cash flows.a. Trueb. False
It is true that one can indeed find the change in wealth from an investment by subtracting the present value of its required investment from the present value of its future cash flows.
The change in wealth from an investment can be found by subtracting the present value of its required investment from the present value of its future cash flows. This method is known as the net present value (NPV) method, which is the most widely used method to evaluate investments.
The NPV method is based on the concept of the time value of money, which states that a dollar today is worth more than a dollar in the future due to the potential for it to be invested and generate more money.
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a market consists of consumers with unsatisfied wants and needs who have both resources and the willingness to:
A market consists of consumers with unsatisfied wants and needs who have both resources and the willingness to buy. Thus, option (b) is correct.
What is consumers?The term “consumer” means purchasing a product or service for the purpose of personal use. The consumer are consume the product and services. The consumer are buying the product and services with exchange of money.
A group of the individual are the unsatisfied wants and needs was the intention and able buyers. It was the consumers are the buying take place was the demand of the product.
As a result, the significance of the market consists of consumers with unsatisfied wants and needs are the buy are the aforementioned. Therefore, option (b) is correct.
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Your question is incomplete, but most probably the full question was.
A market consists of consumers with unsatisfied wants and needs who have both resources and the willingness to:
A. demand
B. buy
C. sell
D. supply
The smaller the contribution margin ratio, the higher the amount of sales required to cover a given amount of fixed expenses. True or False?
It is false that the The quantity of sales needed to pay a given amount of fixed expenses increases as contribution margin ratio decreases.
What does a low contribution margin ratio indicate?It is not advisable to keep producing the product at its current sales price level unless it is a very high volume product because a low or negative contribution margin implies a product line or business may not be very profitable. While conducting a breakeven or goal income analysis, it is critical to evaluate the contribution margin. The sum that can be used to pay fixed costs is known as the contribution margin. Costs are displayed in the Contribution Margin income statement according to various expense categories.
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the primary legal responsibility of business is to obey the law. T/F
The statement is true as the primary legal responsibility of any business is to obey the law.
In addition to the local businesses, individuals with in civilization are also held to account under law. Business must abide by laws and regulations because it is a separate legal entity. Every company has a duty to conduct its operations within the restrictions established by the various commissions and agencies at all levels of government. These guidelines have been established to preserve balance and advance societal welfare. A business that follows the law additionally constitutes a corporation that values moral obligation. The company is free to operate whatever it sees fit, but only as long as it complies with all applicable rules and regulations, including labor laws.
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In break-even analysis, the contribution margin is defined asA. price minus variable cost.B. price minus fixed cost.C. variable cost minus fixed cost.D. fixed cost minus variable cost.
A) In break-even analysis, the contribution margin is defined as price minus variable cost.
In a break-even analysis, a company's margin of safety is determined and compared against the income received and related expenses. To put it another way, the study shows how many sales are necessary to pay for operational costs. Through the analysis of various pricing levels in connection to various levels of demand, the break-even analysis determines what level of sales are necessary to pay the company's entire fixed costs. A demand-side analysis would considerably improve a seller's ability to close deals.
A stated optimal sales mix or the volume of output can be determined using break-even analysis. External parties like investors, regulators, or financial institutions are not intended to use the metrics and computations employed in the study; rather, they are solely intended for use by a company's management. With this kind of research, the break-even point is determined (BEP).The break-even point is calculated by multiplying the total fixed production costs by the cost per unit less the variable production costs. No matter how many units are sold, a fixed cost is constant.
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Compares after-tax income to the money people spend on a variety of items.
a. interest rate
b. savings rate
Answer:
B. Savings rate
Explanation:
The savings rate compares after-tax income to the money people spend on a variety of items. The persistent rise in the cost of goods and services is inflation.
his company makes professional-quality products that are accessible to the recreational angler.
The sentence means that the company produces high-quality fishing products that are designed and marketed to appeal to recreational anglers, rather than only to professional or commercial fishermen.
The implication is that the company aims to provide products that are both high in quality and affordable to a broader range of consumers who may not have the same level of experience or investment in the sport as professional anglers.A company is a legal entity or organization that is created for the purpose of conducting business activities. It is typically formed by a group of people, often called shareholders or owners, who provide capital and resources to the company in exchange for a stake in its ownership and profits. Companies may take various legal forms depending on their structure, ownership, and purpose, including corporations, partnerships, and sole proprietorships. Companies may operate in a variety of industries and may be engaged in activities such as manufacturing, marketing, finance, research and development, or service provision.
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Within a company, who is most likely to perform strategic planning?A) the president and vice presidentsB) the accounting and finance departmentsC) the marketing and sales departmentsD) cross-functional teams of divisional managers close to their marketsE) the manufacturing and production departments
Option D is correct. Within a company, cross-functional teams of divisional managers are close to their markets. They are often called middle management.
Middle management is the middle administration level of a progressive association that is subordinate to the chief administrative and answerable to 'group driving' line directors as well as 'expert' line supervisors. Center administration is by implication (through line the board) answerable for junior staff execution and efficiency.
Not at all like line the board, Middle management is viewed as a senior (or semi-chief) position as centre supervisors are approved to talk and follow up for the association to line directors, junior staff and clients. In this degree of the board are incorporated division, plant and division chiefs.
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a perpetuity of $5,000 per year beginning today offers a 15% return. rounded to dollars and cents, what is its present value?
Present Value (PV) is calculated as follows:
Present Value (PV) = Payment / Interest + 5000
Present Value (PV) = 5000 /.15
Present Value (PV) = 38333.33
Present Value (PV) = $38,333.33
Present value (PV) is the current value of a future financial asset or stream of cash flows at a given rate of return. The discount rate determines the amount by which future cash flows are discounted, and the higher the discount rate, the lower the present value of those future cash flows.
Choosing the right discount rate is the key to accurately valuing future cash flows, whether they are earnings or debt obligations. Money today is worth more than it will be in the future, according to the concept of present value. In other words, money received in the future is less valuable than money received in the same amount today.
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the appropriations control account of a governmental unit is debited when
When the budgetary accounts are closed at the conclusion of the fiscal year, the appropriations control account of a governmental entity is debited.
When a transaction is completed, typically via a debit card, a bill-paying service, or a check, a bank account is debited.
The first thing that happens when a debit card is swiped or processed for an online transaction is that the bank is electronically notified.
Following a debit card transaction, the bank places a hold on the account equal to the transaction's cost.
The bank receives the transaction information from the retailer and, after examining it, transfers the funds to the retailer.
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is a dollar today worth more than a dollar tomorrow *?
A dollar today is worth more than a dollar tomorrow, according to the financial concept known as time value of money (TVM). There are two key factors. A Chance and Inflation cost money at the time.
Are today's dollars more valuable than tomorrow's?Major Takeaways. A dollar today is always worth more than a dollar tomorrow, according to the time value of money theory. Holding cash instead of investing has opportunity costs, which is one explanation for this.
Why is a dollar today worth less than one in the future?In plain English, a dollar earned in the future is worth less than a dollar earned now. One of the causes of this is inflation, which is the overall rise in the cost of all products and services.
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Who is the corporate sponsor for the half time show?
The corporate sponsor for the halftime show during the Super Bowl is Apple Music.
A halftime show is a performance given during the brief period between the first and second halves, or the second and third quarters, of a sporting event.
The corporate sponsor for the halftime show during the Super Bowl varies from year to year. In some cases, there may not be a specific sponsor for the halftime show, while in other cases, multiple companies may be involved in sponsoring different aspects of the show.
In 2023, Apple Music is the corporate sponsor for the halftime show during the Super Bowl after Pepsi dropped its decade-long sponsorship last May.
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As Camp Bow Wow became more popular, Heidi opened more locations. But to open more locations, Heidi needed access to financial capital. She considered switching her form of business to something that would allow her access to more money and ensure that the business could continue if Heidi retired or passed away. Given these factors, which form of ownership would be best for Camp Bow Wow?A. General partnershipB. SyndicateC. Sole proprietorshipD. Corporation
The form of ownership would be best for Camp Bow Wow is General partnership.
To restrict her liability for any debts or responsibilities the company might develop, Heidi sought to limit the type of business she would incorporate for Camp Bow Wow.
Explanation and Response: A limited liability business is Heidi's best option (LLC).
Do businesses operate as distinct legal entities that are subject to taxation?An organization known as a corporation, also known as a C crop, is a separate legal entity from its owners. Businesses have the potential to be profitable, subject to taxation, and subject to liability. Yet, forming a company is more expensive than using another type of structure. Companies provide the strongest protection for their owners from personal liability.
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Answer: General Partnership
Explanation:
Short-term budgets allow management to periodically evaluate performance and take timely corrective action.True False
The given statement "Short-term budgets allow management to periodically evaluate performance and take timely corrective action" is true. Because management is able to monitor performance and make adjustments thanks to these short-term budgets.
Short-term budgets are usually prepared for a period of one year or less, and they provide management with a detailed plan of expected income and expenses for that period. By comparing actual performance with the budgeted amounts, management can identify any deviations and take corrective action to get back on track.
Short-term budgets also help in identifying areas of inefficiencies or opportunities for improvement, allowing management to make timely adjustments to the budget and operations.
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Unanticipated inflation does all of the following EXCEPT:
A) cause uncertainty about the future.
B) reduce the value of debt.
C) cause disinflation.
D) reduce the value of money.
Option C is correct. Disinflation is caused by the inverse, either a decrease in the rate of growth of the money supply or an economic cycle contraction (recession).
During a recession, business competition for customers becomes much more intense, and retailers are unable to pass on increased costs to their customers. A drop in aggregate demand usually leads to a drop in prices. Lowered government expenditure, share price failure, customer desire to raise savings, and tighter monetary policies are all contributing factors to this shift (higher interest rates). Deflation is a drop in an economy's overall price levels, whereas disinflation occurs once price inflation slows temporarily. A decrease in the supply of money, government spending, private consumption, and corporate investment can all lead to deflation, which really is harmful to an economy.
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darren and susan want to provide funding for their daughter jerri, age 10, to attend four years of college, starting at age 18. the current annual cost of tuition is $19,000. assume inflation of 6% and after-tax earnings of 5%. if the couple wants to have enough life insurance to assure adequate funds for jerri when she begins college (should darren die today), approximately what amount of life insurance covering darren is needed for the college funding? (round your answer to the nearest dollar.)
The answer is B)$83,958, is amount of life insurance covering Darren is needed for the college funding.
What does insurance mean in plain English?An insurance contract, sometimes referred to as insurance coverage or an insurance policy, is a binding legal arrangement between the insurer and the insured. For losses that the insured may incur in certain situations, the insurer offers financial protection.
What serves as insurance's justification?Its objective is to lessen financial uncertainty and manageable accidental loss. In exchange for assuming the risk of a substantial loss and a guarantee to pay in the event of one, it achieves this by paying a small, known fee—an insurance premium—to a reputable insurer.
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The answer is B) $83,958, is amount of life insurance covering Darren is needed for the college funding.
What does insurance mean in plain English?An insurance contract, sometimes referred to as insurance coverage or an insurance policy, is a binding legal arrangement between the insurer and the insured. For losses that the insured may incur in certain situations, the insurer offers financial protection.
What serves as insurance's justification?Its objective is to lessen financial uncertainty and manageable accidental loss. In exchange for assuming the risk of a substantial loss and a guarantee to pay in the event of one, it achieves this by paying a small, known fee—an insurance premium—to a reputable insurer.
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according to the rule of 72, how long would it take to double your money if you earned a compound interest rate of 1%?
According to the Rule of 72, you can estimate the number of years double your money by dividing 72 by the annual interest rate. If your compound interest rate of 1%, it approximately 72 years to double your money.
The Rule of 72 is a quick and easy way to estimate the impact of compound interest on your investments. It can be used to calculate how long it will take for your money to double, or to estimate the amount of time it will take for the value of an investment to increase by a certain percentage. However, it is important to note that the Rule of 72 is just an estimate, and actual results may vary depending on factors such as the interest rate frequency of compounding, the volatility of the investment, and other economic factors.
According to the Rule of 72, you can estimate the number of years it will take to double your money by dividing 72 by the annual interest rate. In this case, if you earned a compound interest rate of 1%, it would take approximately 72 years to double your money.
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what is definition of tariff?
the production benchmarks on p. 6 of each issue of the footwear industry report:_____.
The production benchmarks on p. 6 of each issue of the footwear industry report: provide solid evidence of whether a company's total production costs of branded footwear are low enough to enable the company to be attractively profitable. Thus the correct option is D.
What is an industry Report?An industry report, also known as a document or statement, identifies the major problems or developments in any business and enables readers to understand the internal and external variables affecting that industry.
The presented instance involves a report on the footwear industry. They require careful consideration since they allow business managers to determine if particular parts of the production process at their company's production facilities are competitive with the increased production.
Therefore, option D is appropriate.
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The complete question is Probably
The production benchmarks data on p. 6 of each issue of the Footwear Industry Report a. provide solid evidence of whether a company is managing its total compensation, workforce productivity, production labor costs, total production costs and reject rates as cost- efficiently as rival companies. b. are more useful to the managers of companies striving to compete successfully by selling below-average quality footwear at below-average prices. c. are most useful to the managers of companies that are pursuing a strategy to produce and market top quality branded footwear sold at well above-average prices. d. provide solid evidence of whether a company's total production costs of branded footwear are low enough to enable the company to be attractively profitable. e. are less useful than the branded operating benchmarks shown on p. 7 of the Footwear Industry Report.
can you take bonus depreciation on rental property
You can use bonus depreciation with personal property used in rental properties because the majority of it has a depreciation term of less than ten years.
Bonus depreciation is an important factor to take into consideration each year when it comes to rental homes. It is a very essential concept in the real estate industry that can have a major impact on rental property owners and managers.
It must be made clear that bonus depreciation cannot be used for real properties, despite the fact that this technique of depreciation may sound promising for owners of rental properties. The rationale for this is because of the lifespans assigned by the IRS. There is a 27.5-year depreciation time for rental property. This is problematic because an asset can only be depreciated using bonus depreciation for a limit of 20 years.
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Fifty percent of the market is in the hands of Company A, 30 percent is in the hands of Company B, 15 percent is in the hands of Company C, and the remaining 5 percent is in the hands of Company D. Based on these hypothetical numbers, Company B is the market _____.
answer choicesa. leader
b. challenger
c. follower
d. nicher
In this hypothetical scenario, there are four companies, each of which controls a certain percentage of the market. Company A controls 50%, Company B controls 30%, Company C controls 15%, and Company D controls 5%.
Based on these figures, it is clear that Company A is the market leader, as it has the largest market share of 50%. A market leader is a company that has the largest market share in a given industry or market. Market leaders often have a competitive advantage over other companies, as they have established a strong reputation, customer base, and brand recognition. Company B, with a 30% market share, is a challenger. A challenger is a company that is competing with the market leader for a larger share of the market. Challengers often have a significant market share, but are still behind the market leader in terms of overall market share. Company B may be working to differentiate its products or services from those of the market leader, or to compete on price or other factors. Company C, with a 15% market share, is a follower. A follower is a company that is following the lead of the market leader and the challenger. Followers often have a smaller market share than the market leader and the challenger, but they may still be profitable by offering similar products or services to a smaller customer base. Company D, with a 5% market share, is a nicher. A nicher is a company that is focusing on a specific niche within the market rather than competing for a larger share of the overall market. Nichers often have a smaller market share than the market leader, challenger, and follower, but they may still be profitable by targeting a specific segment of the market and offering specialized products or services. In conclusion, based on the hypothetical percentages provided, Company B is a challenger, as it is competing with the market leader for a larger share of the market.
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our opportunities to join and access social networks have skyrocketed in recent years because of the internet. place the following in order from lowest to highest percentage.
gap between American adults in households earning $75,000 or more per year using the internet and adults in households earning $30,000 or less per year using the internet in 2015-> ..... in 2000-> percentage of adults Americans using the internet in 2000 -> percentage of American teens making new friends online -> percentage of American adults using the internet in 2015
The gap between American adults in household earnings $75,000 or more a year using the internet and adults in households earning $30,000 or less a year using internet in 2015.
What Is Household Income?The term household income generally refers to the combined gross income of all members of a household above a specified age. Household income includes every member of a family who lives under the same roof, including spouses and their dependents.
The incomes of everyone count even if they aren't all used to support the household. Household income also includes anyone living in that home even if they're not related. Household income is an important risk measure used by lenders for underwriting loans and is a useful economic indicator of an area's standard of living.
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west trenton corp. currently has a bank loan outstanding that requires it to make three annual payments at the end of the next three years or to skip making the next two payments in lieu of making one large payment at the end of the loan's term in three years in the amount of $3,184,000. when the interest rate on the loan is 6%, estimate the annual payment the bank will require to make west trenton corp. indifferent between the two forms of payments.
Hence the annual payment the bank will require to make West Trenton Corp. indifferent between the two forms of payments is $10,00,125.64
What is the value of an annuity?The sum of all payments made under an annuity at a particular period is its future value. The value of an annuity is the amount that must be put into it now in order to get income payments in the future. You can calculate how much money you need to set aside for an annuity using the present value calculation to get to your desired retirement income level.
The future value of annuity formula is used to calculate the annual payment.
The formula is as under,
FV = C × [{(1+r)^n - 1} / r]
FV = One large payment in third year = $3184000
C = annual payment = ?
r = rate of interest per annum = 6%
n = no.of years = 3
3184000 = C * [{(1+0.06)^3 - 1} / 0.06]
3184000 = C * 3.1836
C = $10,00,125.64
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What are the three conditions for a market to be perfectly competitive? For a market to be perfectly competitive, there must be A. many buyers and one seller, with the firm producing a product that has no close substitutes, and barriers to new firms entering the market. B. many buyers and sellers, with firms selling similar but not identical products, with low barriers to new firms entering the market C. many buyers and a few sellers, with all firms selling identical products, and no barriers to new firms entering the market.
D. many buyers and sellers, with all firms selling identical products, and no barriers to new firms entering the market.
E. many buyers and a small number of firms that compete, selling differentiated products, and barriers to new firms entering the market
The correct option is E. many buyers and one seller, with the firm producing a product that has no close substitutes, and barriers to new firms entering the market.
In economics, the term "competitive market" describes a market where there are many buyers and sellers and where no one buyer or seller can significantly influence the market. Competitive markets have numerous buyers and sellers, few entry barriers, and uniform products.
People can choose from a variety of employers and workplaces thanks to the jobs it generates. Through the regulation of business, competition also lessens the need for governmental intervention.
Consumers, society, and personal freedom all benefit from a competitive free market. Perfect competition is characterized by three key factors: (1) the absence of any significant market dominance; (2) standardization of industry output; and (3) freedom of entry and exit. When marginal revenue and marginal cost are equal, a perfect competitive market reaches its efficient market equilibrium.
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Note that the full question is:
What are the three conditions for a market to be perfectly competitive? For a market to be perfectly competitive, there must be
A many buyers and one seller, with the firm producing a product that has no close substitutes, and barriers to new firms entering the market.
B. many buyers and sellers, with firms selling similar but not identical products, with low barriers to new firms entering the market
c. many buyers and a few sellers, with all firms selling identical products, and no barriers to new firms entering the market.
D. many buyers and sellers, with all firms selling identical products, and no barriers to new firms entering the market.
E. many buyers and a small number of firms that compete, selling differentiated products, and barriers to new firms entering the market
What Is a Budget Surplus?
A budget surplus is a financial situation in which a government, company, or individual's income or revenue exceeds their expenses or spending during a given period. In other words, a budget surplus occurs when there is more money coming in than going out.
A combination of circumstances, such as more tax receipts, lower government expenditure, or faster economic development, can lead to a budget surplus for governments. A government with a budget surplus may utilise the extra money to reduce debt, support public infrastructure improvements, or set aside money for unforeseen crises.
A budget surplus for businesses or people can be the consequence of increased sales or revenue, decreased costs, or successful cost management. A firm or person with extra money in their budget might use it to invest in their personal or professional goals, pay off debt, or put money aside for future costs.
A budget surplus is frequently desired by people, businesses, and governments since it may be perceived as a successful financial outcome.
It's crucial to remember, though, that persistent budget surpluses can also have their own economic repercussions.
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True or False: the beginning merchandise inventory plus cost of goods sold equals the cost of goods available for sale during the period.
The statement in the question is false. The cost of goods sold in addition to the beginning merchandise inventory cost for the period is not equal to the amount of cost of goods available for sale.
The beginning inventory is the in-stock items ready to be sold or utilized for the relevant accounting period. this is an important component of the business as both an internal as well as external factor. The cost of goods purchased together with the beginning merchandise inventory cost for the period together makes up the cost of goods available for sale during that period. The Beginning Inventory plus Purchases substracting the ending Inventory equals to the cost of goods sold.
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the code and standards establishes a fiduciary duty for cfp® professionals. when does the fiduciary duty apply?
The fiduciary duty for CFP® professionals established by the Code and Standards applies in all client relationships. This means that CFP® professionals are required to act as fiduciaries whenever they are providing financial planning or material elements of financial planning to clients, regardless of the compensation structure or the type of account or service involved.
Under the fiduciary duty, CFP® professionals are required to act in the best interests of their clients, placing the clients' interests ahead of their own. This duty includes the obligation to exercise due care, act with loyalty and good faith, disclose material conflicts of interest, and provide full and fair disclosure of all material facts relating to the client engagement.
Furthermore, the fiduciary duty requires CFP® professionals to provide ongoing monitoring and communication to ensure that the client's financial goals are being met and that any changes in the client's circumstances are taken into account. The fiduciary duty applies to all aspects of the client engagement, including the initial engagement, the development and implementation of the financial plan, and ongoing monitoring and review of the plan.
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If the company uses Porter's cost leadership strategy, what should marketing and sales emphasize? A. The ability of the company's products to satisfy more than basic needs B. The prestige that the company's brand conveys C. The fact that the company's products are easily mass-produced D. The good value of the company's products
If the company uses Porter's cost leadership strategy The good value of the company's products
What does the stragegy say?If the company is using Porter's cost leadership strategy, marketing and sales should emphasize the good value of the company's products. Cost leadership strategy focuses on offering products or services at lower costs than competitors, so emphasizing the good value of the company's products can help to differentiate them from competitors and attract customers who are looking for affordable options.
Option A, emphasizing the ability of the company's products to satisfy more than basic needs, may be more aligned with a differentiation strategy, which focuses on offering unique or superior products. Option B, emphasizing the prestige of the company's brand, may be more aligned with a focus strategy, which targets a specific niche market. Option C, emphasizing that the company's products are easily mass-produced, may be more aligned with an operational efficiency strategy, which focuses on optimizing production processes.
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1. Which one of the following costs is classified as a period cost? (CIA adapted)A. The wages of a worker paid for idle time resulting from a machine breakdown in the molding department.B. The wages of the workers on the shipping docks who load completed products onto outgoing trucks.C. The wages paid to workers for reworking defective products that failed the quality inspection upon completion.D. The payments for employee (fringe) benefits paid on behalf of the workers in the manufacturing plant.
B. The wages of the workers on the shipping docks who load completed products onto outgoing trucks is classified as a period cost.
Period costs are costs that cannot be recorded on a company's balance sheet. In other words, they are expensed and recorded on the income statement in the period in which they occur. Period expenditures are also known as period expenses.
In managerial and cost accounting, period expenses are costs that are not tied to or related to the development of inventory. Examples include selling, general, and administrative (SG&A) expenses, marketing expenses, CEO salary, and corporate office rent.
The expenditures are expensed in the period in which they are spent since they are unrelated to inventory production. The term "period costs" refers to any costs that are not directly related to the manufacturing of a product (product costs).
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Correct question:
Which one of the following costs is classified as a period cost? (CIA adapted)?
A. The wages of a worker paid for idle time resulting from a machine breakdown in the molding department.
B. The wages of the workers on the shipping docks who load completed products onto outgoing trucks.
C. The wages paid to workers for reworking defective products that failed the quality inspection upon completion.
D. The payments for employee (fringe) benefits paid on behalf of the workers in the manufacturing plant.
Which one of the following statements concerning liquidity is correct?
Fixed assets are more liquid than current assets.
Balance sheet accounts are listed in order of decreasing liquidity.
Liquid assets tend to be highly profitable.
The less liquidity a firm has, the lower the probability the firm will encounter financial difficulties.
Trademarks and patents are highly liquid.
Trademarks and patents are highly liquid one of the following statements concerning liquidity is correct.
The correct option is E.
What is balance sheet explain?A balance is a spreadsheet that lists a company's assets and liabilities as of a certain date. One of the three main financial statements, together with the cash flow statement and financial statements, that are used to evaluate a company's performance is the income statement.
Why is a balance sheet necessary?The purpose of the balance sheet is to clearly show a company's financial condition at a specific point in time. The statement shows an entity's assets, liabilities, and amount invested in the company (equity).
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The correct question is -
Which one of the following statements concerning liquidity is correct?
A-Fixed assets are more liquid than current assets.
B-Balance sheet accounts are listed in order of decreasing liquidity.
C-Liquid assets tend to be highly profitable.
D-The less liquidity a firm has, the lower the probability the firm will encounter financial difficulties.
E-Trademarks and patents are highly liquid.