a. Affects only items reported in the income statement.
The concept of materiality.
a. Affects only items reported in the income statement.
b. Treats as material only those items that are greater than 2% or 3% of net income.
c. Results in financial statements that are less useful to decision makers because many details have been omitted.
d. Justifies ignoring the matching principle or the realization principle in certain circumstances.
Answers: 2
Other questions on the subject: Business
Business, 21.06.2019 20:20, ktenz
Miller mfg. is analyzing a proposed project. the company expects to sell 8,000 units, plus or minus 2 percent. the expected variable cost per unit is $11 and the expected fixed costs are $287,000. the fixed and variable cost estimates are considered accurate within a plus or minus 5 percent range. the depreciation expense is $68,000. the tax rate is 32 percent. the sales price is estimated at $64 a unit, plus or minus 3 percent. what is the earnings before interest and taxes under the base case scenario?
Answers: 1
Business, 22.06.2019 08:00, lizisapenguin
Why do police officers get paid less than professional baseball players?
Answers: 2
Business, 22.06.2019 18:00, dpazmembreno
Carlton industries is considering a new project that they plan to price at $74.00 per unit. the variable costs are estimated at $39.22 per unit and total fixed costs are estimated at $12,085. the initial investment required is $8,000 and the project has an estimated life of 4 years. the firm requires a return of 8 percent. ignore the effect of taxes. what is the degree of operating leverage at the financial break-even level of output?
Answers: 3
You know the right answer?
The concept of materiality.
a. Affects only items reported in the income statement.
a. Affects only items reported in the income statement.
Questions in other subjects:
Mathematics, 10.01.2021 18:40
Physics, 10.01.2021 18:40
Mathematics, 10.01.2021 18:40
