Corporate governance is the system of company oversight designed to ensure that the interests of owners and other stakeholders are protected.
<h3>What is
Corporate governance?</h3>
Corporate governance can be described as the system whereby a companies are been directed and controlled.
It should be noted that the Boards of directors are responsible for the governance of their companies, however the shareholders' role that can be associated to this governance help to appoint the directors and the auditors .
Hence,Corporate governance is the system of company oversight designed to ensure that the interests of owners and other stakeholders are protected.
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Maria recently put her house on the market at an asking price of $260,000. She realizes, however, that in order to sell the house, she may have to use price skimming
<h3>What is
price skimming?</h3>
Price skimming is a pricing strategy that a company can use when launching a new product or service.
Price skimming is commonly used for new technologies. DVD players are an excellent example of this. When DVD players first became available in the late 1990s, they could cost up to $1,000. If you do a quick search on Amazon, you'll find that a new DVD player costs only $33.
The pricing strategy will be influenced by the stage of the product's life cycle. The process of charging a relatively high price for a product is referred to as price skimming. When a product is new to the market, skimming is commonly used (in its introduction or growth phase)
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Solution :
We calculate the advances form the customer to be reported as the current liability as on Dec. 31, 2009 in the balance sheet as follows :
<u> Particulars </u> <u> Amount ($)</u>
Customer advances the balance Dec 31, 2008 110
Add : advances that is received with 2009 orders is 195
Less : advances applicable to the orders in 2009 -180
Less : advances from orders that are canceled in 2009 <u> -45 </u>
Advances from the customers liability Dec. 31, 2009 80
Therefore, the advance from the customer to be reported in the balance sheet as the current liability is $80.
