Construction expenditures should be debited when <u>D. The bill is approved for payment.</u>
<u>Explanation:</u>
In the above scenario, Acme Construction Co. submitted bill amount of $1,200,000 on a construction contract. The payment of the bill was approved on May 2. According to the contract, 10% was subject to retention.
This construction expenditure is debited when the bill is approved for payment. Contract includes all the details regarding payment and terms and conditions between the companies or parties.
Once the bill submitted by company is approved, then the retention amount will be automatically debited.
Answer:
this is not the answer
Explanation:
Consumers and producers react differently to price changes. ... Both of these changes are called movements along the demand or supply
Answer:
the BOM stock is $26,846
Explanation:
The computation of the BOM stock for the feb month is shown below:
But before that following calculations need to be done
Average stock is
= net sales ÷ stock turnover
= $75,000 ÷ 2.6
= $28,846
Now the basic stock is
= Average stock - monthly sales
= $28,846 - ($75,000 ÷ 6)
= $16,346
And, finally BOM stock is
= Planned sales + basic stock
= $10,500 + $16,346
= $26,846
hence, the BOM stock is $26,846
Answer:
A zero-sum game
Explanation:
A zero-sum game is a situation in which the gains of one country are the result of the losses of another country. For example, if country A invades country B, and takes possession of its natural resources, the economic gain of country A came as a result of the economic loss of country B.
Answer:
The GDP will grow above or will be greater the $200 billion amount during the 14th year from 2001 which will be 2015.
Explanation:
To calculate the GDP in a particular year after 2001, we know the equation will be,
GDP = 112 * (1+0.043)^t
Where,
If we want to calculate the year in which GDP will be greater than 200 billion, we need to substitute the GDP part in the equation with amount of say 200 billion.
200 = 112 * (1+0.043)^t
200 / 112 = (1.043)^t
1.785714286 = (1.043)^t
Taking log on both sides and dividing the equation for t.
log(1.785714286) / log(1.043) = t
t = 13.772 years rounded off to 14 years
So, the GDP will grow above or will be greater the $200 billion amount during the 14th year from 2001 which will be 2015.