
In many companies, the chief executive officer (CEO), who holds the top management position in the company, also serves as chairman of the board. This is often the case with companies that have grown rapidly and still retain the initial founder in those roles.
Answer:
A. service life refers to the time an asset will be used by a company and physical life refers to how long the asset will last.
Explanation:
A company might buy a copy machine that stays in excellent working order for 10 years, but slowly starts breaking down after 10 years so they sell it at a used office equipment sale. Someone else buys it at a discount and uses it for 2 more years before it completely stops working. It's service life was the 10 years that the original company used it, and it's physical life is the 12 years that it lasted before totally breaking down.
Answer:
$800,000
Explanation:
Given that;
Sales revenue = $800,000
Cash collected = $645,000
Remaining amount cash collected in January = $155,000
And the delivery of goods is $11,100
Here, since the service revenue earned is $800,000 and same amount would be reported under the income statement, other items given would be ignored.
It therefore means that the sum of $800,000 should be the 2019 income statement report for service revenue.
Answer:
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