The branch of accounting that is concerned with providing information to present and potential creditors of an enterprise is
a. auditing.
b. managerial accounting.
c. financial accounting.
d. income tax accounting.
C
You might also like to view...
Sutton Products is a price-setter that uses the cost-plus pricing approach. The products are specialty vacuum tubes used in sound equipment. The CEO is certain that the company can produce and sell 310,000 units per year, due to the high demand for the product. Variable costs are $2.40 per unit. Total fixed costs are $970,000 per year. The CEO will receive stock options if $100,000 of operating income for the year is reported. What sales price would allow the CEO to achieve the target if the cost-plus pricing method is used? (Round your answer to the nearest cent.)
A) $2.40 per unit B) $5.85 per unit C) $3.45 per unit D) $5.21 per unit
You pay taxes only when you sell stock and realize the gain
Indicate whether this statement is true or false.
Explain the economic incentives under the Clean Air Act of 1990 for companies to have fewer emissions
Clio's hot dog stand is only open during lunch on weekdays. In total, Clio, who is the sole owner and operator, worked 450 hours at the hot dog stand during the year. Clio is not considered a material participant with respect to the hot dog stand business.
Answer the following statement true (T) or false (F)