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3 years ago

Which of the following statements about a note receivable is true?

Business

1 answer:

Viefleur [7K]3 years ago

7 0

Answer: The correct answer is "D".

Explanation: The TRUE statement abaout a note receivable is "D", it can be transferred to another party by endorsement.

Note Receivables are created when customers sign documents known as promises of payment and agree to pay the face value of the document, along with interest, on a given date.

These can only be transferred to another person through the endorsement.

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What are two things you need to maintain if you assist a person with banking and bill paying?

Anton [14]

Answer:

transaction record and a reconciliation of the transactions

An adequate bank balance and a budget.

Legal guardianship of the person and power of attorney

Your documentation as payee for the person you support and the bankbook

8 0

3 years ago

A will is the final declaration of how a person desires to have her or his property disposed of after death and must follow exac

Aleksandr-060686 [28]

Answer:

The above statement is<u> true</u>.

Explanation:

As said in above statement , A will is the final declaration of how person desires to have her or his property disposed of after death and must follow exactly the requirements of state law to be effective. A will is good , as it express your feelings , that to whom you want to give your property after your death . It is always provided to that person you choose.

It protect your children from become homeless after your death. It also protect your property from being contested. A will is only valid if it is having number of years after the persons death.

A will should not include future plans, gifts and request , life insurance etc.

8 0

3 years ago

For commodity X, average cost is equal to marginal cost at every level of output. Assuming that the market for X is competitive

yuradex [85]

Answer:

2 3 For commodity X average cost is equal to marginal cost at every level of from ... curve is linear, analyze the effects when a unit tax of u dollars is imposed. Now analyze the effects of the same tax assuming that the market for X is a monopoly. ... Suppose that the demand curve is (where is the number of gallons of liquor ...

Explanation:

7 0

3 years ago

In its most recent annual report, Appalachian Beverages reported current assets of $54,000 and a current ratio of 1.80. Assume t

svetlana [45]

Answer:

Current Ratio - Transaction 1 = 1.6666 rounded off to 1.67

Current Ratio - Transaction 2 = 1.6388 rounded off to 1.64

Explanation:

The current ratio is a measure of liquidity which measures the amount of current assets a business has to pay off each $1 of current liability. It is calculated as follows,

Current Ratio = Current Assets / Current Liabilities

We know the initial current ratio and current assets. The initial current liabilities will be,

1.8 = 54000 / Current Liabilities

Current Liabilities = 54000 / 1.8

Current Liabilities = $30000

Transaction 1

The result of transaction 1 will be that the current assets will increase by $6000 as inventory increases and the current liabilities will also increase by $6000 as accounts payable are increasing. The new current ratio will be,

Current Ratio - Transaction 1 = (54000 + 6000) / (30000 + 6000)

Current Ratio - Transaction 1 = 1.6666 rounded off to 1.67

Transaction 2

The result of transaction 2 will be that the current assets will decrease by $1000 as payment for truck which is a fixed asset is made partly by cash and the current liabilities will not increase as the note signed for the remaining payment of the truck is due after 2 years thus it is a non current liability. The new current ratio will be,

Current Ratio - Transaction 2 = (54000 + 6000 -1000) / (30000 + 6000)

Current Ratio - Transaction 2 = 1.6388 rounded off to 1.64

5 0

3 years ago

Given the following account balances at year end, compute the total intangible assets on the balance sheet of Anisha Enterprises

Rina8888 [55]

Answer:

c. $5,500,000

Explanation:

Intangible assets are those assets which does not have any physical existence and therefore it's not possible to touch, it means these assets are not physical in nature such as Trademarks, which is an intellectual property that identifies product or services of a company.

Goodwill, is the value of a company because of the reputation or product it sells, the value of the company it's higher than the total value of its assets.

3 0

3 years ago