Answer:
2. False
Explanation:
Market organization refers to the ways goods and services are bought and sold in the market.
Under market organization, individuals can communicate their buying decisions and their preferences and tastes directly to their peers and known ones which eventually affects the latter's decision making. This is a direct way of communication.
Similarly, another form of communication would be indirect wherein an individual conveys his/her choice of with whom they want to transact with rather than their preferences. Here the communication is indirect and this is a realistic possibility.
Hence the given statement is false.
Answer:
unearned service revenue 7,500 DEBIT
service revenue 7,500 CREDIT
Explanation:
the job is complete on July 31th
so <em>we write-off the unearned service reveue</em>
and <em>we recognize the service revenue </em>for the whole amount of the contract
The cash receipt occurs on March 1st so w edon't haveto post anythign related to cash on July 31th.
the unearned revenue account is used first because the business has the obligation of perform the job or return the cash. So it is a liablity until the job is completed
Answer:
The remaining shares should be carried at its fair value.
In this case then, the fair value of the remaining shares = $260,000*(1-0.5) = $130,000
Explanation:
According to IFRS 3(Revised), A certain group may decide to sell its controlling interest in a subsidiary but retain significant influence in the form of an associate, or retain only a financial asset. If it does so, the retained interest is remeasured to fair value, and any gain or loss compared to book value is recognised as part of the gain or loss on disposal of the subsidiary.
Answer:
budgeted manufacturing overhead=$2871
Explanation:
Direct labour hours= budgeted production × standard hours per unit
= 870× 1/4 hour=217.5 hours
Direct labour cost = 217.5
× $12 =$2610
Manufacturing overhead = Overhead absorption rate × direct labour cost
= 110%×2610
=2,871
Budgeted manufacturing overhead=$2871
