In high or low income economies around the world.
Answer: B. False
Explanation: If you chose a specific career and go for it until the end of high school you’ll probably have more knowledge in it but you can change your career by doing different curriculums during college or in the summer.
The International Organization for Standardization (ISO) is an international standard-setting body composed of representatives from various national standards organizations.
Founded on 23 February 1947, the organization promotes worldwide proprietary, industrial and commercial standards. It is headquartered in Geneva, Switzerland, and as of 2015 works in 163 countries.
It was one of the first organizations granted general consultative status with the United Nations Economic and Social Council.
Answer and Explanation:
The amount and the journal entry is shown below:
a. Amortization Expense - Patents $35,000 ($315,000 ÷ 9 years)
To Patents $35,000
(Being amortization expense is recorded)
b Amortization Expense - Patent $2,600 ($46,800 ÷ 18 years)
To Patents $2,600
(Being amortization expense is recorded)
c Amortization Expense - Franchises $18,000 ($72,000 ÷ 4)
To Franchises $18,000
(Being amortization expense is recorded)
Bad debt expense is an operating expense. An increase in operating expenses decreases income from operations.
When a receivable is no longer collectible as a result of a customer's inability to pay an outstanding debt due to bankruptcy or other financial issues, a bad debt expense is recorded. Companies that offer credit to their customers record bad debts as an allowance for doubtful accounts, also referred to as a provision for credit losses, on their balance sheet.
The basic idea behind bad debt expense is the same as that behind all accounting principles: it enables businesses to completely and accurately report their financial position. Almost every business will encounter a customer who is unable to pay at some point, and they will need to record a bad debt expense.
Learn more about bad debt here:
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