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Dimas [21]
3 years ago
9

Economic understanding and economic conditions do not affect a personal financial plan.

Business
1 answer:
4vir4ik [10]3 years ago
7 0
False ~~~~~~~~~~~~~~~~
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A characteristic of a schedule of Accounts Receivable is that
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Option A-The revenue must be recognized on 31 August.

Explanation:

The accrual concept says that the income must be recognized when they are earned not when the amount is received and expenses when they are incurred not when they are paid.

So according to accrual concept, the entity must deliver its share to recognize sales that is servicing the car. When the entity will service the car then it should recognize the revenue otherwise not. So in accrual basis accounting the date of payment is irrelevant for recognition of revenue and expenses.

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A company's income statement showed the following: net income, $134,000; depreciation expense, $30,000; and gain on sale of plan
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E. $148,600

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Cash flow from operating activities.

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An economist for a bicycle company predicts that a rise in consumer incomes will increase the demand for bicycles. this predicti
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When an economist makes a prediction that a rise in consumer incomes will increase the demand for bicycles sold by a bicycle company, it is made on assumption that bicycles are normal goods. Therefore, the option A holds true.

<h3>What is the significance of normal goods?</h3>

The normal goods or services being sold in the market of an economy can be referred to or considered as goods that have a direct relation with the demand for such goods, which are affected by consumer income.

As per the behavior of normal goods, it can be inferred that their demands increases with a given increase in the disposable income of the consumer, such as the one in the condition given above.

Therefore, the option A holds true and states regarding the significance of normal goods.

Learn more about normal goods here:

brainly.com/question/24100151

#SPJ4

An economist for a bicycle company predicts that a rise in consumer incomes will increase the demand for bicycles. This prediction assumes that bicycles are _____.

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