Answer:
A. True
Explanation:
In the starting of the twentieth century, the only stock in which an individual invest is the stocks and the bonds but today there is a lot of different type of investment choices who provides the better return. Accprding to the demand of the investor there are various options available for invest
Hence, the given statement is true
Answer:
insurance is important in that it helps you indemnity the losses occured after the risk occurrence
Explanation:
insurance ensures that you are covered from all period and hazards
Answer:
Option (b) is correct.
Explanation:
Sale value of the merchandise = $74,900
Sales tax liability = $74,900 × (7% ÷ 107%)
= $4,900
Sale value prior to sales tax = $74,900 - $4,900
= $70,000
Sales tax @7% on $70,000 = $4,900
Hope the above calculation will clear the concept since the question clearly mention that
Calhoun Crockery sold merchandise; the total proceeds collected, including a 7% sales tax, amounted to $74,900.
This $74,900 includes 7% tax also it means that the collected proceed is 100% + 7% = 107%
which includes 7% tax liability.
Its nonexcludable because it is a product that an individual,can consume without reducing its availability to another individual
Answer:
It will cause a major problem in case the client adds new deposit to an income account instead of receiving a payment.
Explanation:
Account receivables are the record of the invoices for which the client has not made payment yet. If the client adds a new deposit categorized to an income account instead of receiving a payment against the invoice, the first major problem would be that the Accounts Receivable balance of the client will not be accurate. It will create duplicate expenses as there was an entry made for a new deposit.
The second problem will be as a result of the first one that, the income account will show duplicate income and correct the correct income will not be recorded.
