Answer:
Yes, financial statement is a cumulative record of all transactions.
Explanation:
- A financial statement is a form of the formal record. Its reports the business, person or an entity. The relevant information is resented by discussion and analysis. Such as balance sheet, income statements, statements of equity, cash flow, and comprehensive statements. Thee by its includes all sorts of financial statements.
Answer:
6.201%
Explanation:
Given that,
Net asset value = $12.90
By year-end net asset value = $12.30
Fund paid year-end distributions of income and capital gains = $1.40
change in NAV:
= By year-end net asset value - Net asset value
= $12.30 - $12.90
= -$0.6
Rate of Return:
= (change in net asset value + Distributions) ÷ Start of Year net asset value
= ( -$0.6 + $1.40) ÷ $12.90
= 0.8 ÷ $12.90
= 0.06201 or 6.201%
Answer:
Explanation: Damaged goods are goods that do not meet up to the required standards of items to be sold and below are ways damaged goods are treated in the books:
1. Damaged goods are included in inventory at their net realizable value.
2. If damaged goods can be sold at a reduced price, they are included in inventory.
3.Damaged goods are not included in inventory if they cannot be sold
4. A loss in value is reported in the period when goods are damaged or become obsolete.
Answer:
The correct answer is letter "A": processing cost.
Explanation:
Process costing is a costing method that consists in producing units that are <em>constantly being manufactured</em>. The main purpose of this approach is to identify the total cost of production to divide it by the total number of goods manufactured. Then, the cost of production per unit is determined.