Answer: it is price floor
Explanation:
5$ is the lowest the price can go because they will NOT set it any lower, but it can go higher from there.
i took the testtoo, i got it correct.
floor is the lowest price, ceiling is the highest.
Answer:
From all indications,the two rents received have been posted wrongly, I want to believe that you are required to post the adjusting entries,hence my answer below:
The first $9000 was posted to deferred revenue,whereas only two months should have been
First rent:
DR Deferred revenue $3000
CR Revenue $3000
Second Rent
DR Revenue $6000
CR Deferred revenue $6000
Explanation:
The first $9000 was posted to deferred revenue,whereas only two months should have been deferred and December rent recognized as rent.
As far as the second rent is concerned only one month has been earned,as a result the revenue should be credited with just $3000 for December.
This then mean that revenue from the second property has been overstated in December by $6000,this necessitated by adjustment above.
Answer:
The correct answer is option d. directing and coordinating operations during the period.
Explanation:
Budget is a plan which elaborates how the resources of the company are to be spent to achieve desired targets or growth rates.
It helps all the units of the organization to establish goal for the coming period.
It is also helpful for the managers and employees by increasing their motivation as they now have to chase a decided target.
It also helps in estimating cost reduction techniques, alternatives on the basis of last year data.
Since, it is just an estimate it does not provide any help in directing and coordinating operations.
So, the correct answer is <u>option D.</u>