Answer:
$235,000
Explanation:
Under the accrual accounting system, expenses are recognized in the period incurred and not necessarily in the period cash is paid.
Revenue is also recognized in the period earned and not necessarily when cash is collected.
Total revenue in 2018 = $200,000 + $150,000
= $350,000
Net income is the difference between the revenue and expense
Net income in 2018 = $350,000 - $115,000
= $235,000
The board of directors take all the decisions of the corporation and are responsible for them. Thus, the correct option is -
are responsible for and have final authority for managing corporate activities.
They have the final authority to carry out the managing activities functions.
Selection tools help a company or a recruiter find the best fit for their company. Applications, resumes, interviews, and employment tests ( such as personality tests) are all examples of selection tools. They help the employer SELECT their next employee and make it easier to find the traits they are looking for.
Answer:
C. Fixed Factory Overhead Per Unit
Explanation:
Variable costing and marginal costing income statements mainly differ because of treatment of fixed factory overhead.
Inventory costs under variable costing include only direct material, director labor and variable factory overhead.
Whereas in absorption costing, fixed factory overhead also become part of product cost in addition to direct material, direct labor and variable factory overhead.
