Answer:
<em>Run a recoverability test and then a fair value test.</em>
Explanation:
Business assets with a loss of value are subject to impairment tests to assess and identify the magnitude of the loss.
<em>Measuring the magnitude of the loss requires two steps:</em>
- Performing a recoverability check is to decide whether an impairment loss occurred by determining whether the future value of the undiscounted cash flows of the asset is less than the asset's book value. If the cash flow is less than the value of the book, the loss will be assessed.
- Measure the cost of damage by measuring the difference between the book value and the asset's market value.
Answer:
$18
Explanation:
The contribution margin per patron is the ratio of the total contribution to the number of patrons. The total contribution is the difference between the total sales and the total variable cost.
Hence, the contribution per matron may also be derived as the difference between the sales per patron and the variable cost per patron.
The variable cost here is the cost of providing dinner per ticket as such,
Contribution margin per patron
= $40 - $22
= $18
Answer:
he started and managed a business.
Explanation:
Entrepreneur is the person who is willing to take risk by putting his capital to create and operates business.
Emily Motycka gained his fame because he started and managed a business at 13. He created Motycka Enterprises , a company that offers lawn mowing services to the suburban houses.
By the time he entered high school, he already earned a 6 figure income, while most people only able to get that type of earning in their 30s.
Revenue in a business transaction is recognized <u>When </u><u>goods </u><u>or </u><u>services </u><u>are </u><u>provided </u><u>to </u><u>customers </u><u>and at the </u><u>amount expected </u><u>to be </u><u>received </u><u>from the customer. </u>
<u />
<h3>What is revenue?</h3>
- Refers to the amount paid to a company for the provision of goods and services.
- Can only be recognized when that good or service has been provided to the customer.
Until a good or service is provided to the customer who bought it, revenue should not be recognized because it has not been earned by a company.
In conclusion, option C is correct.
Find out more on revenue recognition at brainly.com/question/1380073.
