FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Q1. Depreciation is added to Net profit, though it is a noncash item because, a. To calculate Operating profit b. To prepare the correct profit

Q1. Depreciation is added to Net profit, though it is a noncash item because, a. To calculate Operating profit b. To prepare the correct profit of the company C. Since it is a noncash item, it should be avoided. d. None of the above are correct explanations.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Crypto Asset Investing In The Age Of Autonomy

Crypto Asset Investing In The Age Of Autonomy

Authors: Jake Ryan

1st Edition

1119705363, 978-1119705369

More Books

Students also viewed these Finance questions

Question

★★★★★
Write an article making recommendations for the optimal business entity form for the entrepreneurs in the scenarios outlined below using at least two other credible sources in your paper. Discussing...

Answered: 1 week ago

Question

★★★★★
Convert the given table to the First Normal Form (1NF) and identify its PK (10 points) Convert it to the Third Normal Form (3NF) and show all tables and their respective attributes diagrammatically...

Answered: 1 week ago

Question

★★★★★
3. Story consists of a theme, a plot, and: (a) action (b) audience (c) writer (d) dialogue

Answered: 1 week ago

Question

★★★★★
The trial balance of Marius Santiago Co. shown below does not balance. Each of the listed accounts has a normal balance per the general ledger. An examination of the ledger and journal reveals the...

Answered: 1 week ago

Question

★★★★★
Q1. Depreciation is added to Net profit, though it is a noncash item because, a. To calculate Operating profit b. To prepare the correct profit of the company C. Since it is a noncash item, it should...

Answered: 1 week ago

Question

★★★★★
a) Briefly discuss the reporting requirements of IPSAS 24: Presentation of Budget Information, and justify the relevance of this standard in governmental budgeting and accountability b) The concept...

Answered: 1 week ago

Question

★★★★★
A concentrated juice is being diluted in a two-stage process. The first stage is blending juice concentrate with 40% product solids with water to create a stream of juice with 5% product solids. The...

Answered: 1 week ago

Question

★★★★★
Read Case Study 11, Scenario 2 in It Depends: Employee Relations Case Studies for Human Resources Professionals and Students. Can you decline to hire the candidate because he has a piercing and a...

Answered: 1 week ago

Question

★★★★★
Kando Company currently pays $14 per unit to buy a part for a product it manufactures. Instead, Kando could make the part for per unit costs of $6 for direct materials, $4 for direct labor, and $2...

Answered: 1 week ago

Question

★★★★★
Reliable Electric, a major Ruritanian producer of electrical products, is considering a proposal to manufacture a new type of industrial electric motor that would replace most of its existing product...

Answered: 1 week ago

Question

★★★★★
The draft financial statements of Plethora plc for the year to 31 December 20X9 are being prepared and the accountant has requested your advice on dealing with the following issues.(i) Plethora plc...

Answered: 1 week ago

Previous Question Next Question