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3 years ago

The basic difference between a good and a service is that a good

Business

2 answers:

d1i1m1o1n [39]3 years ago

8 0

Answer:

The basic difference between a good and a service is that a good is tangible while a service is intangible.

Explanation

Check the table attached to find an outline of the basic differences between a good and a service.

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Sidana [21]3 years ago

7 0

Answer:

is a tangible object that can be owned and stocked.

Explanation:

The main characteristics of services are:

Lack or ownership: services cannot be owned or stocked.
Intangibility: services do not have a physical shape.
Inseparability: services are produced and consumed at the same time.
Variability: services are not homogeneous and their quality might vary a lot.
Perishability: any service not provided today is lost by tomorrow.
User participation: consumers and producers must necessarily participate in the service process.

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On February 1, 2021, Arrow Construction Company entered into a three-year construction contract to build a bridge for a price of

faltersainse [42]

Answer:

2021

revenue 2,666,667

we have cost for 2,000,000

income for 666,667

2022

revenue 3.278.400‬

cost 2,500,000

income 778.400‬

2023

revenue 2,054,933‬

cost 3,800,000

loss 1,745,067‬

Explanation:

2,000,000/ (2,000,000 + 4,000,000) = 1/3

in 2021 a third of the contract was complete therefore we recognize a third of revenue:

8,000,000 x 1/3 = 2,666,667

we have cost for 2,000,000

income for 666,667

2,500,000 / (2,500,000 + 3,600,000) = 0,4098

we recognize revenues for 40.98 of the total contract value.

8,000,000 x 40.98 = 3.278.400‬

cost 2,500,000

income 778.400‬

2023

we recognize the remaining revenue.

8,000,000 - 2,666,667 - 3,278,400 = 2.054.933‬ revenue

cost 3,800,000

loss 1,745,067‬

7 0

3 years ago

The term means to record an expenditure as an asset.

Novosadov [1.4K]

Answer:

Capitalize

Explanation:

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3 years ago

A common size analysis requires the representation of financial statement data relative to a single financial statement item (or

MArishka [77]

Answer:

The correct answer is letter "C": Total assets.

Explanation:

Total assets represent the total amount of assets that an individual or entity possesses to obtain a return from them. In accounting, it is obtained by subtracting the previous period total assets minus the current period total assets. They appear in the Balance Sheet of a company and is the baseline or common base item to which other line items are expressed.

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3 years ago

Mrs. Lu is turning 65 in November and called to ask for your help deciding on a Medicare Advantage plan. She agreed to sign a sc

arlik [135]

Answer:

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3 years ago

What schools,parents and young people/learners can do to prevent alcohol and drug abuse amongst youth.

Anon25 [30]

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