Answer: Reports produced using management accounting must follow GAAP.
Explanation: Management report are reports produced by management accountants are prepared for internal use by managers, employees and other officers.
Management reports are produced as at when required and do not necessarily have to follow GAAP.
Management reports include job costs, production cost report, cost of good manufactured report etc.
It gives monetary and non monetary information for management consumption.
Answer:
A
Explanation:
In this question, we are provided with options and we are asked to select which of these options is/are true.
First, we need to understand what is meant by the persuasive business message.
The persuasive message refers to a specific course of action in which a particular individual or entity is trying to convince the other party towards acting in a particular manner.
Now based on the options, we choose option A to be our answer. This is because, looking at the scope and mechanism of the persuasive business approach, it tends to speak to the other party by relying basically on the logical mechanics rather than on mere emotional appeal.
<u>Answer:</u>
Liquidity ratios measure (C) the extent of a firm's financing with debt relative to entity.
<u>Explanation:</u>
Liquidity ratio is used in determining a company's ability to pay off all the current debts without taking or raising any external capital. It measures the company's ability whether the company is able to pay their debts or not through the calculation of "CURRENT RATIO" (It tells the investors how they can maximize the assets to satisfy their current debts), "QUICK RATIO" (It shows the company's ability to use it cash/assets and pay off its current debts. It is also known as acid test ratio) and "OPERATING CASH FLOW RATIO" (this helps in measuring how much the current debts can be paid off by the cash flow which is generated by the company's operation).
Answer:
Debit K Canopy, Capital $6,200;
Credit K Canopy Withdrawals $6,200
Explanation:
With regards to the above, the entries to close the withdrawals account at the end of the year would be;
Debit K Canopy, Capital $6,200
Credit K Canopy Withdrawals $6,200
Capital is being debited because cash is being taken from the business, hence it will be debited, while withdrawal account would be credited since its receiving cash.