The answer is FALSE;
an operator is only trained to operate a narrow aisle lift truck which is
indicated on the permit of OSHA that has very clear standards that employees
must follow. If an operator is in need to operate a lifting device with a larger
capacity or a different kind of a lifting device, an operator will need
conversion training with the class of lifting truck. <span>It is not allowed
to operate any lifting truck without proper training, authorized and employer certified
on the specific class of lift truck. Once an operator is certified, he is
responsible for the following safety procedures outlined in the training, truck
manufacturers owner, operator’s manual, and company’s policies and procedures. The
employer is intended to certify that each operator has been qualified and assessed
as compulsory. Preceding to the employer verifying the operator: the operator
must obtain classroom type training, hands on training and an assessment. </span>
The statement that the percent sales method for estimating bad debts for a company, will only use those balances in the income statement is False.
<h3>What is the percent of sales method?</h3>
The percent of sales method is one of the methods that companies can use to estimate the bad debts that it expects in a given period. Bad debts refer to those Account Receivables that will not pay the company back even after they have taken goods or services on credit. In order to be able to use the percent of sales method, the sales of a company need to be known.
The sales that a company makes includes both the sales that the company made and the accounts receivable. The Accounts Receivables go to the Balance Sheet and Sales go to the Income Statement. This means that the Balance Sheet balances are used as well as Income Statement balances and not just the latter.
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Credit terms are specific repayment conditions as to how long customers have to pay bills and the amount of cash discount allowed.
<h3>What is the purpose of credit terms?</h3>
Credit terms are the payment requirements stated on an invoice. It is fairly common for sellers to offer early payment terms to their customers in order to accelerate the flow of inbound cash.
Credit means a loan, an agreement in which the lender (creditor) supplies the borrower with money, goods or services which is to be returned in future. Terms of credit apart from the rate of interest, collateral also includes documentation, mode of repayment.
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Answer:
D. $605,500
Explanation:
At the end of 2014, the Retained Earning balance was $533,000. This serves as our beginning balance for the year 2015.
Furthermore, Dividends are expected to be paid out, i.e. a deduction on the balance sheet.
Retained Earnings on the 2015 budgeted balance sheet = Beginning Balance + Expected Net Income - Expected Dividend
=533,500+112,000-40,000
=$605,500
Answer: Law of diminishing marginal utility
Explanation: In simple words, law of diminishing marginal utility states that as a consumer consume more of a good or service then the marginal benefit he or she receives from the additional consumption keeps on decreasing.
In the given case, Jenny's excitement keeps on decreasing with every chocolate she receives after a certain point of time.
Hence we can conclude that the given case illustrates law of diminishing marginal utility.
