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2 years ago

LO 1.2What are the key differences between financial accounting and managerial accounting?

Business

1 answer:

Alex_Xolod [135]2 years ago

5 0

Answer:

Difference between managerial accounting and financial accounting is described as follows:-

Managerial accounting is the accounting process for observing and recording business transaction whereas information and facts of accounts that are collected to make financial statement called financial accounting.
Managerial accounting reports about the issue and obstruction that are occurring in the business processes and the measure to fix it are planned whereas financial accounting deals with profit generation .
Managerial account processes by accounting every level of business internally but financial accounting look business as a whole level.

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Terrance has to make home mortgage payments.What can you Most likely conclude about Terrence based on this fact?

pantera1 [17]

Answer:

D. He has a long term liability.

Explanation:

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2 years ago

A deposit of $100,000 is made to an investment account today. At the end of each of the next four years, $10,000 must be paid ou

andrey2020 [161]

Answer:

14.06%

Explanation:

Assume their is a cash out flow today of $100000, and next four year annual cash inflow of 10000 and 120000 at the end of year 4.

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2 years ago

Asset deflation: Multiple select question. reflects a decline in the productive capacity of assets and therefore reduces potenti

Eduardwww [97]

Generally, a firm's asset deflation mostly reflects a decline in the productive capacity of assets and therefore reduces potential output.

<h3>What is an asset deflation?</h3>

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Therefore, the Option A is correct.

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1 year ago

The accountant for Main Street Jewelry Repair Services, Inc. forgot to make an adjusting entry for Depreciation Expense for the

charle [14.2K]

Answer:

C) Total assets are overstated.

Explanation:

The journal Entry for the Depreciation is as follows:

Dr. Depreciation Expense xxx

Cr. Accumulated Depreciation xxx

By missing this Journal entry the Accumulated depreciation account will be understated as we know that this is a contra asset account and this will net off the Long term assets. So, as a result the total asset will be overstated.

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2 years ago

Suppose an economy is modeled with a production possibilities frontier or curve (PPF) for butter (vertical axis) vs. guns (horiz

Nonamiya [84]

Answer: B - a general improvement in technology affecting production of all goods

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Technological progress shifts the curve outward, away from the origin as more output would be produced using the same combination of factor inputs.

Shifting of resources from butter to gun would lead to movements along the curve as more gun would be produced and less butter.

Pacifism becoming less popular which increases gun production, would cause movement along the curve.

Increase in consumer desire for butter increase the amount of butter produced . This would generate a movement along the curve

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2 years ago