The answer is: averaged over time, Sheridan attends worship services regularly.
When we use principle of aggregation, we would not rely on single measurement to make a representation of a person's behavior. We rely more on multiple sets of measurements.
From the case above, Sheridan not attending the services for two weeks could be explained by things such as personal issues or physical illness. Since she considers herself as religious who attend regularly, it is very likely that averaged over time, Sheridan attends worship services regularly.
Larger vehicles with larger motors because they use oil whereas electric cars run on electricity,biofuels refers to oils if people invest to extract it they can earn money,solar energy is free and doesn’t require anything. Hence, people tend to spend less on larger machines with larger motors.
Answer:
a. Debit Accounts receivable for $600
Explanation:
As Greasy catering company provided services but had not got the bill from the customer, it increases an asset. According to the revenue recognition principle, revenue has recognized whenever it is provided not when the cash is received. In that case, the journal entry to record the transaction is -
Accounts receivable (Debit) $600
Revenue (Catering) (Credit) $600
Accounts receivable is debit because the company owes the amount from the customers.
Answer: The project should be accepted.
Explanation:
The Internal Rate of Revenue is used to evaluate projects before they are accepted. It is a rate that equates the Net Present Value of cashflows to zero.
If the IRR is higher than the Required return then the Project will be accepted because it means that NPV will be higher than zero. The reverse is true.
Given the cashflows in the question, the IRR is;
= 18.8% according to Excel.
With the IRR higher than the required return of 8%, the project should be accepted.
