When two companies come together strategically to operate is called a joint venture.
<h3>What is a Joint Venture?</h3>
A Joint simply put is when two separate entities or business agree to share resources with the aim of archeiving similar or one objective.
Mostly, this is carried out when a company intend to enter a foreign market.
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Answer:
3. Rental costs of $5,000 per month plus $.30 per machine hour of use
Explanation:
Mixed cost is the one which has both the factors, variable and fixed.
Sometimes, the segregation is also difficult, when the total cost is given.
In the chosen option also, there is a fixed cost involved that is monthly expense of $5,000.
Further for each hour of machine used the cost increases and is $0.30 per hour.
That is variable as the total will depend upon the number of hours the machine is used.
All the other three are either completely fixed like salary, and depreciation, or either completely variable like electricity cost.
Answer:
False
Explanation:
In the initial period, the prepaid expenses should be recorded in the assets hand side of the balance sheet under the current asset column
But when some adjustments are made regarding this in terms of gains or expenses incurred, the same should be presented on the income statement
Hence, the given statement is false as it is recorded in the assets only during the initial period
Answer:
D. It helps you keep track of each stage of the editing process
The correct option is A.
Under the allowance method, bad debt expense is recorded FOR AN AMOUNT WHICH THE COMPANY ESTIMATES IT WILL NOT COLLECT.
Allowance method is a method of accounting that is used to estimate the amount of uncollectibles at the end of each financial period. Uncollectibles refers to debts which the company has no hope of ever collecting them again.
