Answer:
Reason : To ensure constant flow of cash
Explanation:
<u>Accrual Basis of accounting</u> records transactions when they meet definition and recognition criteria of Assets, Liabilities,Equity, Expense and Incomes.
This is different from<u> cash-basis accounting</u> which records transactions at the receipt or payment of cash.
Because of <em>timing</em> difference, the cash transactions (cash basis) can happen a late than the day of recognition of the elements (accrual basis).
Hence Revenue services demand that income tax be calculated on accrual basis to ensure a constant flow of cash whenever an entity transact.
The employee orientation process is intended to aid new hires in becoming acquainted with their positions and organizations.
An entity, such as a business, institution, or association, that is made up of one or more people and has a specific function is known as an organization or organization (Commonwealth English; see spelling variations). The word is derived from the Greek word organon, which also refers to an instrument, an organ, and many tools. Comparatively speaking, consider the idea of social groups, which can encompass non-organizations.
The terms "organizations" and "institutions" can be used interchangeably, but according to Jack Knight, organizations are either a more condensed version of institutions or a group of institutions; the two are different in that organizations comprise internal institutions (that govern interactions between the members of the organizations).
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I think the answer would be disabled and sick seamen. I'm not sure, but I Hope my answer will help.
Answer:
The journal entries are:
Dr Bond Receivable 66,000
Dr Interest Receivable 990
Cr Cash 66,990
(to record the purchase of Iceline, Inc. 's bonds)
Explanation:
The purchase include the following deliverables:
+ The bond at the price of $66,000
+ The interest receivables that the seller(s) is/are eligible to receive, yet, they transfer the rights to the buyers. This amount is recorded at $990 as Buyer's receivable because as bond holder, Buyers are eligible to receive that. Noted that this is not qualified to be recorded as Interest Income for Bond's Buyers because the Buyers do not hold the bond at all before the purchase, thus, they should not recorded any interest income from the coupon receipt.
=> Total Cash spent for the purchase is $66,990 ( $66,000 + $990).
Answer:
O Country Y has a protective tariff on car imports.
Explanation:
A protective tariff is "a tariff imposed to protect domestic firms from import competition
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