[5] according to the fasb’s conceptual framework, which of the following best describes the distinction between expenses and losses? a. losses are reported net of related tax effect, and expenses are not. b. losses are decreases in net assets, and expenses are not. c. losses are material, and expenses are immaterial. d. losses result from peripheral or incidental transactions, and expenses result from ongoing major or central operations of the entity

Fanning books buys books and magazines directly from publishers and distributes them to grocery stores. the wholesaler expects to purchase the following inventory: april may june required purchases (on account) $ 111,000 $ 131,000 $ 143,000 fanning books accountant prepared the following schedule of cash payments for inventory purchases. fanning books suppliers require that 85 percent of purchases on account be paid in the month of purchase; the remaining 15 percent are paid in the month following the month of purchase. required complete the schedule of cash payments for inventory purchases by filling in the missing amounts. determine the amount of accounts payable the company will report on its pro forma balance sheet at the end of the second quarter.

Used cars usually have options: higher depreciation rate than new cars lower financing costs than new cars lower insurance premiums than new cars lower maintenance costs than new cars

Select the correct answer. which is a benefit of planning for your future career? a. being less prepared after high school. b. having higher tuition in college. c. earning college credits in high school. d. ruining your chances of having a successful career.