Ngai Nhung is the sales manager at Hung Technologies. At lunch with the company CEO, Ngai proudly announced that he had negotiated a <u>blanket purchase order</u> with a client that represented the customer's long-term commitment to buy components from Hung.
<u>Option: D</u>
<u>Explanation:</u>
Here Ngai announcement means that the firm's consumers with their suppliers are going to enable several distribution dates across a period of time, often structured to reap the benefits of fixed prices which showcase the long-term relation between firm and consumer, thus understood as a blanket purchase order.
It is basically utilized when expendable products are recurrently needed. Blanket orders are commonly used when a consumer purchases large amounts and receives special discounts. Calculating the predicted amount planned by the recipient of the commodity is the toughest part of getting an agreement.
In today's decentralized business world, TOP MANAGERS are the most important strategic decision makers. Decentralization means distribution of decision making power through the hierarchy of an organization. Decentralization has increases in today's business world as it provides a dynamic environment to work.
Though, in decentralization power is also in hands of lower managers, middle managers, etc the top level managers still hold the rights to make decisions.
Answer:
The journal entry to be recorded for the payment of the note on date of maturity is shown below:
Explanation:
The journal entry to be recorded for the payment of the note on date of maturity is as follows:
Notes Payable A/c..........................Dr $9,000
Interest expense A/c......................Dr $148
Cash A/c..........................................Cr $9,148
Being payment of the note payable is reported on the maturity date
As on the day of the payment, the cash is going out of the business which means assets is decreasing and any decrease in assets is credited. Therefore, the cash account is credited. And the notes payable is paid so the notes payable account is debited and interest expense account will also be debited.
Working Note:
Interest expense = $9,000 × 10% × 60/ 365
Interest expense = $148
Answer:
The answer is A, SSL
Explanation:
SSL which is the abbreviation for Secure Sockets Layer, is an encryption-based web security protocol. It is majorly used to ensuring web space privacy, authentication and also achieve data integrity in Internet communications.
