Answer:
B. One year or the operating cycle, whichever is longer.
Explanation:
Current Assets are assets that can be converted into cash within a year or an operating cycle whichever is longer.
Current Assets are presented first on a balance sheet and arranged in order of liquidity.
Examples of current assets are cash ,
cash equivalents , short-term investments, accounts receivable and stock inventory.
I hope my answer helps you
Answer:
$30,000
Explanation:
Opportunity costs refers to the incomes or benefits a person, business or investor loses or forgone when one alternative is chosen over another.
Since Kelvin will lose earnings of $30,000 a year from a full-time job if Kevin decides to attend college, this $30,000 a year is therefore the opportunity cost.
Answer:
$784,700
Explanation:
Data provided
Revenue from sales = $762,000
Decrease in accounts receivables = $22,700
The computation of cash received from customers is shown below:-
Cash receipts from customers = Revenue from sales + Decrease in accounts receivables
= $762,000 + $22,700
= $784,700
Therefore for computing the cash received from customers we simply applied the above formula.
Answer: B.
Explanation: Contributions to individuals, foreign governments, foreign charities, and certain private foundations similarly are not deductible.
