Answer:
No gain or loss.
Explanation:
Given:
Amount of spice mixture = 470 pound
Current price = $2.35 per pound
Future price = $2.73 per pound
Computation:
We know that, Future price of spice mixture is higher than current price of spices.
But contract price is fixed at $2.35.
Therefore, no gain or loss will be recognized.
Answer:
Actor: Firm, individual, nation, or other participant in the economy. Opportunity Cost: The benefit that would have been received by taking the next best.
Explanation:
The answer is Locational sensitive task.
TRUE-
<span>If all bloops are razzies, you can put the bloops entirely inside the razzie set, and if all razzies
are lazzies you can safely put the razzie blob entirely inside the
lazzie set. It makes the whole thing a lot easier to visualize.</span>
Answer: a. At the end of Year One, the company's liabilities are understated.
Explanation:
Under the Accrual basis of Accounting, revenue should be recorded for only jobs that have been completed. In other words, only earned revenue should be recorded. Revenue that has not been earned but yet received, is to be termed Deferred revenue and should be treated as a current liability.
In this scenario, there are steps that have not been completed so some of the revenue received should be termed deferred revenue. These should therefore be in current liabilities and because they were not, the liabilities for the end of year 1 will be understated.
