The accounting assumption is the full disclosure. For a business, the full disclosure rule requires an organization to give the important data with the goal that individuals who are acclimated to perusing monetary data can settle on educated choices concerning the organization.
A disclosure is an extra data connected to an element's money related proclamations, normally as a clarification for exercises which have fundamentally affected the substance's monetary outcomes.
Answer:
After the war, Americans were ready to buy and wanted consumer goods like cars and appliances. Americans became accustomed to homes with electric lighting, phones, cars, vacations, and entertainment.
The lifestyles of Americans were significantly effected by the availability of labor saving products, luxury items and the emergence of mass advertising campaigns and consumerism.
Explanation:
Answer: D. The account is prohibited from buying the new issue
Explanation:
The options to the question are:
A. The account can buy the issue without restriction
B. The account can buy the issue if the branch manager approves
C. The account can buy the issue if the registered representative agrees not to share in the profit on the position
D. The account is prohibited from buying the new issue.
From the question, we are informed that a registered representative is a 15% participant in an investment club formed by members of the local Elks Club and that the Elks Club investment club has opened a securities account at ABC Brokerage.
We are further told that the account wishes to buy an IPO being offered by an underwriter, out of the options that were given, the correct option is that account is prohibited from buying the new issue.
Answer:
The answer is A. A debit to Accounts Receivable for $ 586,080
Explanation:
Sales tax is an additional amount of money one pays based on a percentage of the selling price of goods and services that are purchased.
The sales tax amount will be added to sales revenue to form the total bill.
Sales revenue ----------------- $528,00
Sales tax -------------------------- 11%
Sales tax amount
$528,00 x 0.11
= $58,080
Therefore, total bill is:
$528,00 + $58,080
=$586,080.
Debit increases an asset(accounts receivable) while credit decreases an asset(accounts receivable).
Since the accounts receivable will increase, it will be on debit side.
Answer:
A- $ 50 Electricity
$ 75 Office suplies
$ 125 Total explicit costs
B- $ 300 Rent
$10000 Lost of salary for quitting his job
$ 10300 Total implicit cost
C- $ 125 Total explicit costs
$ 10300 Total implicit cost
$ 10425 Total economic cost
Explanation:
A- Explicit costs are observable (such as salaries paid to employees, material costs, taxes, etc.) and are paid with cash.
B- Implicit costs are those incurred for giving up an alternative use of a specific resource, but no cash outlay is made. In this case, $ 300 that is no longer earned by using the garage as an office and $10000 lost each month for quitting his job.
C- The sum of the implicit and explicit costs determines the total economic cost
.
