Example where information is relevant and faithfully represented

Q: Define special purpose entity (SPE)

A: A special purpose entity is a legally separate enterprise that bears liability to an organization.…

Q: Define Account class exercise

A: Account class is the term used in the accounting software where there is need to classify customer…

Q: List and explain two important criteria that must be satisfied in order for information to be…

A: Relevant information:   Decision making process requires an understanding of a grasp of illegal…

Q: Which among the following is a time-related attribute of good information? a. Order b. Brevity c.…

A: Introduction:- The following characteristics of quality information as follows:- Accuracy Relevance…

Q: Explain the difference between external events and internal events. Give an example of each type of…

A: An Accounting event is a transaction that is recorded in the books of accounts of the company. There…

Q: Read and interpret anincome statement.

A: It shows the income generated by the company.

Q: Why is a source document important? List some examples of source documents.

A: Source documents refers to the documents pertaining to a business transaction. It captures the key…

Q: Define statement of operations.

A: Financial statements of an organization includes income statement, balance sheet and cash flow…

Q: Define the term posting process.

A:

Q: Define the term internal users.

A: Internal users are people within a business organization who use financial information. Examples of…

Q: is a “look through entity”

A: Look-Through Entity: Look-Through Entity suggests that an individual that's registered under the…

Q: Explain why there is a trade-off between information accuracy and information timeliness. Give an…

A: Report: The formal document used for providing information to the managers is called a report. The…

Q: understandable. ncial statements that are fa nat they nurnort to renreser

A: Financial Statement: It is the statement that consists of the trial balance, income statement, and…

Q: grity of information. policies, plans, procedures, law ssets. efficiency of onerations

A: Segregation of duties is an internal control measure. It refers to the division of duties among more…

Q: relevance characterisitic

A: Relevance is an important characteristic of accounting or financial information.

Q: agency problem

A: The concept of Agency is established between two persons, i.e. a principal and an agent. The…

Q: acti

A: On September 1 LGS gives loan to Eden co of 11000 at an interest rate of 7 percent per annum.…

Q: e and explain activities alonc n them in det core activity.

A: Value chain refers to the concept which elaborates the range of activities involved in transforming…

Q: What is information system ? Elaborate and describe the details

A: Solution- Information systems-        AN system could be a collection of interconnected elements to…

Q: What kind of information is gathered from a valid and trusted source and can be depended upon to be…

A: Accounting information is very useful information which is being collected for the purpose of…

Q: Define Contingencies.

A: Uncertain events refer to uncertainty regarding the occurrence of an event or the data values…

Q: se explain it properly

A: Given: To find the capital balances as, Capital Balances of Banner = P 65,000 and Strange = P 35,000…

Q: Define and explain the significance of the term CMA.

A: Certified Management Accountant (CMA): CMA stands for certified management accountant. CMA…

Q: What criterion should be used to evaluate trade-offs between information characteristics?

A: Financial accounting: It refers to the process of recording the financial transactions of the…

Q: Define agent

A: Introduction: An agent is a party that has oral or written authority to perform for another…

Q: Describe recognition and measurement concepts.

A: Accounting concepts:   Accounting concepts are referred to the bask assumptions, principle and rules…

Q: pls answer and provide solution and explanation

A: OPTION B P 417,000 is the correct answer

Q: Explain an example of source documents.

A: Source documents: The documents which contain evidence of accounting data to record the transactions…

Q: What is an object, and what are its characteristics in the object-oriented approach? Give two…

A:

Q: Define the term external users.

A: An external user is a person outside of an organization who does not directly run its operations and…

Q: describe the roles of fi nancial reporting and fi nancial statement analysis;

A: Financial reporting means representing records maintained by an organization in the form of…

Q: In general, relevant information possesses which qualities?

A: Relevance is an important characteristic of accounting information. It refers to how helpful the…

Q: Which qualitative characteristic is an ingredient of relevance? O understandability O materiality O…

A: Answer

Q: ability of the given information to provide a meaningful and useful result.

A: Second option is wrong because objectivity means the ability of the information to be impartial.…

Q: Define Ethics.

A: Ethics are a set of moral principles they affect how people in a society make decisions and how…

Q: Explain how a Requirements Breakdown Structure (RBS) is typically constructed. What information does…

A: Necessities are conditions or assignments that should be tended to and finished to be acknowledged…

Q: Describe internal event with example.

A: Definition:   Accounting event: An accounting event is a transaction that is recorded in the books…

Q: need this in words rewrite it

A: As per the requirement    Direct Material used Direct Labor Manufacturing overhead Total…

Q: mples) through w

A: The Agency systemThe Agency device may be very popular in the modern-day commercial enterprise…

Q: Define agency cost or problem

A: Agency problem is that problem which is a conflict of interest in a relationship where one side…

Q: Distinguish between object classes and instances.

A: Definition: Object: An object is the name of any item that represents two characteristics that are…

Q: Define Source documents.

A:

Q: What are the components of relevant information? What are the components of faithful representation?

A: