Answer:
The correct answer is letter "A": determines that expenses related to revenue be reported at the same time the revenue is reported.
Explanation:
According to the matching accounting principle, during the same accounting period, the revenues and expenditures needed to generate such revenues have to be recorded. This is part of the accrual accounting method that specifies expenses and revenue must be recorded when incurred not when cash is received.
Answer:
16.22%
Explanation:
3/15, net 45 means that if Newsome pays within 15 days, it will get discount of 3%, otherwise it can pay within 45 days in full.
Nominal annual percentage cost of non-free trade credit based on 365 days can be calculated using the below formula:
Discount %/(100%-Discount %)*(365/(Actual credit days – Discount days))
In this case
Discount%=2%
Actual credit days=60
Discount period=15
Cost of non- free credit=2%/(100%-2%)*(365/(60-15)
=2%/98%*(365/45)
=0.02*8.11
=16.22%
<span>i would say a Device Driver Scan and Update</span>
Answer:
Long-term fixed-rate plan-$220,320.00
Short-term variable-rate plan-$224,280.00
The long-term fixed-rate plan is less costly as it has a lower interest expense
Explanation:
Total interest under the first plan=principal amount*interest rate*3 years
principal amount is $720,000
interest rate is 10.20%
total interest expense=$720,000*10.20%*3=$220,320.00
Interest expense under second plan=($720,000*8.50%)+($720,000*12.90%)+($720,000*9.75%)=$224,280.00
