Answer:
The revenue recognition principle
Explanation:
The revenue recognition principle states that revenue should be recorded when services have been performed or products have been delivered to customers and not when cash is received for the service rendered
For example, if a supplier delivers 10,000 worth of goods to consumers in November and is paid for the goods in December. Revenue should be recognised in November and not December.
Answer:
master contract
Explanation:
Based on the information provided within the question it can be said that the name of the policy issued is called a master contract. This is a collective bargaining agreement that covers all unionized worksites in an industry, and states all the terms and conditions of employment. Which in other words this applies to single employer group plans.
Answer:
The journal entries should be as follows:
Day 1, you purchase the materials (8 pallets x $200 x 80%)
- Dr Materials Inventory account 1,280
- Cr Accounts Payable account 1,280
Day 31, you pay the first installment (= $1,280 / 3)
- Dr Accounts Payable account 426.67
- Cr Cash account 426.67
Day 61, you pay the second installment (= $853.33 - $426.66)
- Dr Accounts Payable account 426.67
- Cr Cash account 426.67
Day 91, you pay the third installment
- Dr Accounts Payable account 426.66
- Cr Cash account 426.66
If the marginal propensity to consume is 0.6, then real GDP will increase by $250 billion.
<h3>What will be the real GDP?</h3>
Real GDP is the gross domestic product of a country that has been adjusted for inflation. Gross domestic product is the total value of all the final goods and services that is produced by a country in a particular period.
Marginal propensity to consume is portion of disposable income that is spent on consumption. Marginal propensity to consume can also be described as the amount of real GDP that is spent on consumption. When spending increases, the value of the real GDP would also increase. The increase in real GDP would be as a result of an increase in spending and saving.
Increase in Real GDP = (MPC x increase in spending) + (MPS x increase in spending)
(100 x 0.6) + [(1 - 0.6) x 100 ] = $250 billion
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According to the given data with the face value of $10,000 and 81 days to maturity, the price of the t bill is 9917.83.
<h3 /><h3>
What is t bill with face value?</h3>
T-bills, also known as Treasury Bills, are offered for maturities that range from a few days to 52 weeks. Rarely have bills sold for the same price as the par amount (also known as face value), which is the standard price at which they are traded. You receive payment of the bill's par amount when it matures. US Treasury bills are often auctioned off. T-bills are available for purchase from the government through the TreasuryDirect website. It will operate like a brokerage account that holds your bonds, and registration is free. You have the option to arrange reinvestments into securities of the same type and term in addition to placing bids on new issues.
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