The dilemma is to decide whether to ignore mother's orders or comply with them in this situation.
<h3>What is Opportunity Cost?</h3>
Opportunity Cost refers to the losses incurred on leaving the other possible alternatives in the decision making and choosing the one. It is the value of the best alternative choose in the process of the decision making.
In the Above situation,the individual would enjoy with friends if he goes to watch the movie However it can lead to trouble with his mother.
However, if individual does cleaning of the lawn; the price would be the fun you would have to forgo.
The best course of action would be to obey your mother because the consequences of doing otherwise are much worse.
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Answer:
The correct answer is b. Accounts Payable, debit; Accounts Receivable, credit.
Explanation:
Accounts payable (AP) represent the amount due on a specific date for the purchase of products or services. Accounts payable are recorded at the time an invoice is approved for payment and are recorded in the General Ledger (or in the CP auxiliary ledger) as a liability, pending payment or open because it has not been settled . Accounts payable are generally classified as Commercial Accounts Payable (that is, payable for the purchase of physical goods that are recorded as Inventory), and Accounts Payable for various Expenses (that is, payable for the purchase of goods and services that are billed). Some common examples of Expense Accounts Payable are advertising, travel, entertainment, office supplies, and services. CPs are a form of credit that providers offer their customers by allowing them to pay for a product or service after it has been received.
Accounts receivable represent collection rights expected to be received in cash. Accounts receivable represent amounts owed by entities to a company for the sale of products and services. In most commercial entities, accounts receivable are normally generated by issuing an invoice and sending it to the customer by mail or electronically, and the customer, in turn, must settle it within a set period of time called credit terms or payment terms.
Answer:
yes
Explanation:
Passive income is any earning that does not require a person to get involved too much. It is income that requires little effort to earn and maintain. Examples of passive income include shareholder's dividends and rental income. Passive income contrasts with active income, where one participates, is fully engaged, or works for many hours.
Karl receives $1500 as rent and pays $1250 as a mortgage. He earns $250 without using too much effort.
Answer:
The Arlington's recognized gain or loss on the exchange is $2,000
Explanation:
For computing the recognize loss or gain, the following treatment is to be done.
The lower of
1. Amount received
2. Realized gain
The amount received is $2,000 and the realized gain is the difference between the purchase cost and the fair market value i.e
= $35,000 - $28,000
= $7,000
So, the lower would be $2,000
