Answer: A. You can withdraw money at any time.
Explanation:
Answer:
<u>Oct 1</u>
Dr Accounts receivable 70,000
Cr Bed debts expense 70,000
(Accounts receivable is an asset and when it increases, they are debited. When expenses increase, they are credited.)
<u>Oct 30</u>
Dr Cash 70,000
Cr Accounts receivable 70,000
(Cash is an asset and when it increases, it is debited. Accounts receivable is an asset and when it decreases, they are credited)
Answer:
c. Ending inventory will be lower if Blake uses weighted average than if FIFO were used
Explanation:
To check which answer is correct, we simply evaluate each option step by step.
<u>Option A</u>
Gross margin is the difference between selling price and cost.
Under FIFO gross margin is $14. (32 -18 =14)
Under LIFO gross margin is $13. (32-19 = 13)
Thus statement is incorrect as gross margin is higher if FIFO is used.
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<u>Option B</u>
If FIFO is used, the dollar amount of ending inventory will be $19 as ending inventory will contain product purchased later that is at $19. In contrast, if LIFO is used, the dollar amount of ending inventory will be $18. Thus the statement becomes incorrect that it will be the same.
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<u>Option C</u>
The ending inventory under FIFO is $19.
The ending inventory under LIFO is $18
The endng inventory under AVCO or weighted average will be, 18+19 / 2 = 18.5
Thus the statement is correct as the ending inventory under weighted average $18.5 is lower than ending inventory under FIFO $19. So, C is the correct Answer.
Explanation:
Its part of the command economy
Answer:
The correct option is the statement that reads " If a firm commits to making its environment a good place to work,workers will not leave"
Explanation:
The most qualified employees are always been poached because of the value they add to any organization,hence the first statement is absolute truth.
The second statement is wrong because there the best working environment cannot stop people from resigning,what in case someone needs to study masters abroad?
A certain level of turnover is healthy since it paves from for new hands with fresh perspective to be hired.
However, when turnovers becomes excessive,it implies a fundamental problem with the workplace.
