As a boat operator, the law make it mandatory that you should stop and assist other boaters who are involves in accidents if there is no danger to you, your passengers or your boat. People who render assistance at boat accident scenes are not hold liable for any civil damage because of the assistance they render.
Answer:
total liabilities = $169,008
Explanation:
total liabilities:
- Accounts Payable: $19,207
- Discount on Bonds Payable: ($7,000) ⇒ contra liability account
- Sales Tax Payable: 3,512
- FICA Tax Payable: 3,200
- Bonds Payable: 100,000
- Note Payable, due in two years 1,709
- Unearned Service Revenue 30,500 ⇒ must be reported as a liability
- Salaries and Wages Payable 17,880
to determine the total liabilities we just have to add both current and long term liabilities, and subtract any contra liability accounts = $176,008 - $7,000 = $169,008
<u>Answer</u>:
Major activities of the Planning Section include: D) Preparing and documenting Incident Action Plans.
<u>Explanation</u>:
The Planning section is responsible for various activities carried out in Incident Command System or ICS. ICS is used to respond to emergencies in the United States. The activities that befall under this section are mostly related to plannings.
These activities are: collecting and evaluating information, preparing and maintaining documents of incidents, etc. Preparing and maintaining the incident documents is an essential task and requires accuracy in representing the facts and figures. Hence, we can say that D is the only activity in the planning section of the ICS.
Answer:
B. firms will exit the industry
Explanation:
When the firms is producing at the minimum average total cost, the amount of profit margin that they get tend to be high. This means that they can fulfill their target profit even by producing less amount of product.
Even when the demand in the market is decreased, Such firms will most likely accumulated enough profit to survive for a long period of time before they go bankrupt. This is why the firms is very unlikely to exist the industry in a short run.
