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3 years ago

Which is the best option for people who need the items immediately but cannot pay cash now?

Business

2 answers:

professor190 [17]3 years ago

7 0

<h2>Answer</h2>

Buy on Credit

<h3>Explanation</h3>

When in a liquidity problem and items have to be bought, buying on credit seems to be the best option. Buying on credit allows immediate ownership of required items whereas the money can be paid later as per the credit policy and terms. This permits the consumer to take the advantage of item ownership with delayed payment hence double advantage.

CaHeK987 [17]3 years ago

5 0

choosing installment plans for both items.

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Which of the following is an example of a non-profit organization?

never [62]

Answer: Salvation army

Explanation: Non profit organisations are those organisation, which perform their operation with the objective of social welfare or charity.

Salvation army is a charitable organisation having more than 1.7 million members all over the world, whom they refer to as soldiers. This organisation mainly serves to the poor and hungry.

Thus, we can conclude that the right option is D.

4 0

3 years ago

A construction company entered into a fixed-price contract to build an office building for $46 million. Construction costs incur

Alex777 [14]

Answer:

Check the explanation

Explanation:

Using the percentage-of-completion method <em><u>(which is an accounting method or technique in which the earnings and expenses of contracts that are of long-term basis are documented as a percentage of the completed work during a particular period.)</u></em>

Total costs = Incurred costs + estimated costs to complete = $8 million + $12 million = $20 million

Revenue to recognize = $8m/$20m*$28m = $11.2 million

Gross Profit = Revenue recognized less costs incurred

= $11.2m - $8m = $3.2 million

8 0

3 years ago

You are the senior auditor in charge of the audit of Potholders Ltd, a retailer of garden pots and gnomes. Your audit firm has b

Gnom [1K]

The components of audit engagement from the question are:

Cost-benefit
Circumvention
designs
application of controls
control environment

<h3>The factors that increase inherent risks</h3>

The integrity of the people that are in managerial positions.
The experience and the effectiveness of managers.
Pressures faced by management.

The type of business.

<h3>Factors that affect control risks:</h3>

Presence of Novel situations
The use of Outdated controls
Improper separation of duties

Read more on inherent risks here: brainly.com/question/14538724

7 0

2 years ago

Flyer Company has provided the following information prior to any year-end bad debt adjustment: Cash sales, $153,000 Credit sale

rodikova [14]

Answer:

Balance of allowance for doubtful accounts after Bad debt Expense is $2700

Explanation:

given data

Cash sales= $153,000

Credit sales = $453,000

Selling and administrative expenses = $113,000

Sales returns and allowances= $33,000

Gross profit = $493,000

Accounts receivable = $140,000

Sales discounts = $17,000

doubtful accounts credit balance = $1,500

solution

we know here Total Bad Debit = 3% of accounts receivable

that is Total Bad Debit = 0.03 × $140,000

Total Bad Debit = $4200

so here allowance for doubtful account credit balance = $1500

Balance of allowance for doubtful accounts after Bad debt Expense will be

Balance of allowance for doubtful accounts = $4200 - $1500

Balance of allowance for doubtful accounts = $2700

6 0

4 years ago

Does reading the abstract of an article give you enough information about its contents?

ANEK [815]

It is true that reading the abstract of an article give you enough information about its contents. The abstract is the summary of the article that describes the content of the article, the scope, <span>objective,methodology and findings, and finally conclusions</span>. Abstracts are useful for initially evaluating a resource's usefulness.

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3 years ago