Answer:
D) There is no contract.
Explanation:
The main requirements for a legal contract to exist is that:
- there is something of consideration being exchanged (in this case $ and the armoire).
- there is an offer and acceptance, and all parties involved must decide freely (in this case there is only an offer, but there is no acceptance).
- all the parties involved must be capable of engaging in a contract (e.g. no minors nor mentally disabled)
- the consideration must be legal, e.g. a contract for buying drugs is not a valid contract
Answer:
C)
Explanation:
When a bill is paid using the Pay Bills window, QuickBooks records a journal entry that Credits Checking account, Debits Accounts Payable. Meaning that it records a withdrawal (Credit) from your own checking account that was used to pay the bill, while simultaneously records a deposit (Debit) on the account that was just paid through the bill.
Answer:
no they are balance sheet items
Explanation:
Answer:
The description would be presented downwards and as per the circumstance presented.
Explanation:
- Instead of assigning resources associated with a specific frequency, activity based costs which always track costs on the basis seem to be an essential component of cost accounting because that would be a more effective means for providing resources.
- The costs when implementing some activity based accounting systems, furthermore, are even less than the potential advantages of moving towards this framework only then would it have been simpler as well as productive for the growing company ABC.
- Throughout the case situation, the claim whether direct labor constitutes a member of a minority fraction of the overall wages should not be an excellent explanation for either not apportioning production wages contingent on the operation, but if the organization determines that the expense of someone using ABC to assign labor profitability of different practices is greater than advantages, the organization increasing turn to something like an optimization model for that frequency.
I think this is specific to your class or we need a bit more context!
