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3 years ago

The lower of cost or market basis of valuing inventories is an example of

Business

1 answer:

Mkey [24]3 years ago

4 0

Answer:

C. conservatism

Explanation:

The lower of cost or market basis of valuing inventories is an example of conservatism. This term refers to trying to anticipate possible future losses, instead of gains and making certain decisions in order to limit those losses. Which some decisions may include lowering costs and/or prices in order to sell more and cover those potential losses.

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During the "mass production" era, operations management focused primarily on:

fiasKO [112]

The answer to your question is: "<span>Internal production"

hope this helped :)</span>

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3 years ago

Al Smith, who lives in Territory 5, carries 10/20/5 compulsory liability insurance along with optional collision that has a $300

photoshop1234 [79]

Answer

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Explanation

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3 years ago

A purchaser paid $403.10 for a TV that cost the seller $290. If the seller's markup was 39% of the $290 cost, then what would be

CaHeK987 [17]

Percent markup based on the selling price: 28.1%

Explanation:

The cost of the TV for the seller was

$c=\$290$

Of this, the markup of this price was 39%. Therefore, the value of the markup (in dollars) with respect to the cost for the seller was

$m=0.39\cdot 290 =\$113.1$

So, this was the markup relative to the cost for the seller.

The price paid by the purchaser instead is

$p=\$403.1$

Therefore, the percent markup based on the selling price (paid by the purchaser) is:

$\frac{m}{p}\cdot 100 = \frac{113.1}{403.1}\cdot 100 =0.281\cdot 100 = 28.1\%$

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3 years ago

Is gross profit or net profit more important to consider when you're deciding how successful and profitable a company is? Why? E

ArbitrLikvidat [17]

Answer:

Net profit is more important to consider because it accounts for all the costs associated with making and selling the product and it includes the operating expenses that are excluded from gross profit. Gross profit is the profit made after deducting costs associated with making and selling its products, or the costs associated with providing its services.

6 0

3 years ago

Read 2 more answers

Required information

allsm [11]

Answer and Explanation:

The Journal entries are shown below:-

a. Accounts receivable Dr, $189,000

To service revenue $189,000

(Being service provided on the account is recorded)

Here we debited the accounts receivable as it increased the assets and we credited the service revenue as it increased the revenue

b. Cash Dr, $184,000

To Accounts receivable $184,000

(Being collection on accounts is recorded)

Here we debited the cash as it increased the assets and we credited accounts receivable as it decreased the assets

c. Bad debt expenses Dr, $6,180

To Allowance for uncollectible accounts $6,180

(Being estimated uncollectible accounts is recorded)

Here we debited the bad debt expenses as it increased the expense and we credited the allowance for uncollectible accounts as it decreased the asset

Working note

Uncollectible accounts = (Total account - Cash collected) × 20%

= ($25,900 + $189,000) - $184,000 × 20%

= $30,900 × 20%

= $6,180

d. Allowance for uncollectible accounts Dr, $7,900

To Accounts receivable $7,900

(Being write off of actual bad debt is recorded)

Here we debited the allowance for uncollectible accounts as it increase the allowance and we credited the accounts receivable as it decreased the asset

8 0

4 years ago