Answer:
D) None of these answers are correct
Explanation:
None of the answers are correct because the definiton of current liability is a debt or obligation that has to paid off before the fiscal year ends. In other words, current liabilities are by definition short-term obligations, and all the options in the question refer to long-term obligations.
I did some research and found out it is the law of increasing costs
:)
Answer:
$3,250.00
Explanation:
Cost price for the truck is $42,000
Salvage value for truck is $3000
Depreciable amount is cost price - salvage value
= $42,000 - $3000
=$39,000
The truck has three years of useful life: depreciation per year will be
=$39,000/3
=$13,000
In 2019, the truck operated for three months, ( October, November, and December)
The amount of depreciation to be recorded in 2019
=$13,000/12 x 3
=$,083.3333333 x 3
=$3,250.00
Answer:
EXPLICIT COST
The wholesale cost for the guitars that Dmitri pays the manufacturer
The wages and utility bills that Dmitri pays
IMPLICIT COST
The rental income Dmitri could receive if he chose to rent out his showroom
The salary Dmitri could earn if he worked as a financial advisor
Explanation:
Explicit cost: those which are actually incurred this means it represent accrued expenses or actual cash outlay.
Implicit cost: refers to the opportunity cost of a factor wasted opprtunity for weing deploy in the current project. These do not represent actual expenses but potential use of the factors
