Ask Question
BusinessBusiness
25 September, 16:51

To facilitate the combination of utility financial statements with the statements of other enterprise funds, GAAP permits utilities to follow the customary format used by nonutility business organizations. True/False

+1
Answers (1)
  1. 25 September, 20:17
    0
    True

    Explanation:

    Generally Accepted Accounting Principles (GAAP) aims to improve the clarity and comparability of the communication of financial information. As it sets its principles based on four pillars (costs, revenues, matching, and disclosure), it makes it possible for a company to unify in the same format financial statements in most cases. Utility and non-utility financial statements are one of those cases.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “To facilitate the combination of utility financial statements with the statements of other enterprise funds, GAAP permits utilities to ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
An organization in which the management builds a commitment to learning, works to generate ideas with impact, and works to generalize ideas with impact is creating a (n) question 9 options: focused organization. learning organization.
Answers (1)
Mr. E, a petroleum engineer, earns an $72,500 annual salary, while Mrs. E, a homemaker, has no earned income. Under current law, the couple pays 20 percent in state and federal income tax.
Answers (1)
Jobs that are grouped into the same pay grade should a. be paid at different wage rates because the worth of these jobs to the organization may differ. b.
Answers (1)
Last week, the Card Shop had 600 shoppers enter the store. Of those 600 shoppers, 120 actually made purchases. What would be the conversion rate for the store's sales staff?
Answers (1)
Which is true of overdraft protection (ODP) ? It ensures that your checks will not bounce. It is required by law for most accounts. It is usually available free for most accounts. It requires funds to be available from a linked account.
Answers (1)
New Questions in Business
In Section 7, the word warranty is best defined as A) a contract between USATestPrep and its Customers. B) a guarantee of any part of the site and its contents. C) a pledge of Customer service if anything goes wrong with the site.
Answers (2)
A (n) is the issuer's written promise to pay an amount equaling the par value. The par value is paid at a specified future date. Most often, the issuer is required to make semiannual interest payments.
Answers (1)
The primary goal of the Consumer Financial Protection Bureau is: A To monitor your credit report and ensure your identity and other sensitive data has not been compromised. B To protect against abusive or deceptive debt collection purposes.
Answers (1)
Jake Skinner purchases a big screen TV on credit and will repay the loan with one payment at the end of 90 days. What type of credit did Jake use?
Answers (1)
Which most likely results from producers engaging in specialization? Producers reduce their costs. Producers increase their market share. Producers decrease the materials needed for production. Producers always offer more competitive pricing.
Answers (1)
Home » Business » To facilitate the combination of utility financial statements with the statements of other enterprise funds, GAAP permits utilities to follow the customary format used by nonutility business organizations. True/False
Sign Up Forgot Password?