Answer:
B. historical cost
Explanation:
According to the historical cost principle, the assets should be valued at purchased cost whether the market value is more or less
Since in the question, it is mentioned that the Tim continues the commercial van value at the purchased cost only even the market price is available
So this represents the historical cost principle
Hence, the correct option is b,
your social security number is a 9 diget number issued to u.s citizens, permanent residents ,or temporary working residents under section 205 of the social security act
The correct option is A
<u>Explanation:</u>
Under the accrual basis of an accounting system, an expense has to be booked in the period in which it is incurred whether such an expense has been paid or not.
<u>The following Journal Entry will be passed in the books of accounts of a company:
</u>
Wages account will be debited with an amount of 5000 and Wages Payable account will be credited with an amount of 50000
Thus, the correct answer will be option A from the given options.
Answer:
The necessary investement today is $783.53
Explanation:
Giving the following information:
An investor wishes to have $1,000 available in five years. The interest rate is 5%.
We need to use the following formula:
PV= FV/(1+i)^n
FV= 1000
i=0.05
n=5
PV= 1,000/(1.05)^5= $783.53
