Answer:
The correct answer to the following question will be "$0".
Explanation:
As we know the given expenses and sales are:
- Year 2018 sale = $600
- Operating expenses = $150
Such that the tax base for Greenville throughout the deferred revenue installment sale would be $0 because according to the details given Installment or obligations sales are regarded income mostly for book transactions and not just for taxation purposes.
Therefore the above is the right answer.
Answer:
True
Explanation:
Bureaucratic control ensures employees' complete compliance by using formal well defined strict rules and regulation. In a bureaucratic control system, top level management are seen as bosses. While in a clan control system less formality is used , and top management are looked up to as mentors.
Answer:
The correct answer is C. A pure monopolist.
Explanation:
The pure monopoly arises when there is a total absence of competition, due to independent entry barriers to the company's competitive capacity.
A single company offers a product that has homogeneous characteristics, which has no substitutes and for that reason has a large number of buyers. There are also economic, technological or legal barriers that prevent the entry of potential competitors. That is, there are barriers to entry.
Answer:
$54,400
Explanation:
The balance in the refund liability account would be calculated as;
Ending balance of sales return allowance = Opening balance of allowance + Expected sales return - Actual sales return
Given that;
Opening balance = $33,400
Expected return = $740,000 × 7% = $51,800
Actual return = $30,800
Therefore,
Ending balance of sales returns = $33,400 +$51,800 - $30,800 = $54,400
The balance in the refund liability account at the end of 2021 is $54,400
