Answer:
Yes, because Henry had authority to sell the horse
Explanation:
In the given scenario Henry had apparent authority to sell the horse.
Apparent authority is the ability of an agent to act on behalf of a principal even though this is not clearly stated out. It is as a result of a third party assuming the agent has such power.
James rightly assumed Henry had the power to sell the horse.
So the sale of the horse is binding on Eleonore.
Answer:
The correct answer is letter "D": normal goods.
Explanation:
Normal Good is any good or service that sees its increase in demand as a result of an increase in income. Normal goods are defined as having an income elasticity coefficient of demand (<em>percentage change in quantity demanded by the percentage change in price</em>) which is lower than one (1) but is still a positive number.
<em>Consumer staples such as food, drugs, beverages, </em>and <em>basic household products</em> are considered normal goods.
Answer:
All of them.
Explanation:
Accounting systems are designed to show the increases and decreases in each financial statement item as a separate record. This record is called an account. In the T account, the debit is on the left and the credit is on the right.
The equity for credits and debits for each transaction is build into the accounting equation: assets = liabilities + equity. Because of this doble equality, this system is called double entry accounting system.
In balance sheet accounts:
-asset accounts debit for increases and credit for decreases.
-liability accounts debit for decreases and credit for increases.
-equity accounts debit for decreases and credit for increases.
Explanation:
economists measure its performance by studying the gross domestic product (GDP)
If GDP goes up, the economy is growing; if it goes down, the economy is contracting.
Answer:
Revised balance = $8000
Explanation:
Milo Company uses the percent-of-sales method to estimate uncollectibles. Net credit sales for the current year amount to $ 150 comma 000, and management estimates 4% will be uncollectible.
Milo Company's balance of Allowance for Uncollectible Accounts after adjustments, was $ 5 comma 000.
The following year, Milo Company wrote off $ 3 comma 000 of old receivables as uncollectible.
The Allowance account balance now will be:
Amount of Uncollectible Accounts for the year = 4% x $150,000 = $6000
Previous balance is $5,000 less amount written off $3000 = $2000
Revised balance = $6,000 + $2000 which is $8000
