The answer is product development. The formation of products with new or dissimilar features that agreement new or additional welfares to the customer. The product development may include alteration of an current product or its performance or formulation of an completely new product that gratifies a afresh distinct customer want or market place.
Answer:
d. net income for the year will be overstated.
Explanation:
The prepaid rent account is used to record the amount paid in advance for rent. Once the amount is paid, the entries required are
Debit Prepaid rent
Credit Cash account
On subsequent use of the rent, the required entries are
Debit Rent expense
Credit Prepaid rent
As such where at the end of the fiscal year, the usual adjusting entry to update Prepaid Rent for the portion of the benefit that was used up / expired was accidentally omitted, net income for the year will be overstated as the rent expense that would have been posted to reduce it would have been omitted.
Answer:
Cash debit 1,200
Note Receivable debit 2,800
Account Receivable credit 4,000
Explanation:
The accounting will reflect the receipt of cash and the note at their principal.
The interest of the note will ge accrued with the past of time. Currently no interest was earned, so we don't have to post anything related to the interest of the note.
We just write-off the account receivable of the customer and declare how we settle.
Answer:
Report it to the right person
Explanation:
According to the article titled "What to do when you spot your employer doing something illegal" written by Catherine Conlan.
It says the best thing to do is to report it to the right person.
This is evident when it is stated in the article that "If you reasonably believe your employer is doing something illegal or unethical, you should first bring it to your supervisor’s attention... If it’s your supervisor you suspect, exhaust the chain of command within the company.
Hopefully, the company will investigate the matter. If no one within the chain of command responds, then there is generally a government agency with whom one can file a complaint,"
