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ikadub [295]
3 years ago
9

The accumulated depletion of a natural resource is reported on the a.income statement as an increase in revenue b.balance sheet

as depreciation from the cost of the resource c.balance sheet as a deduction from the cost of the resource d.income statement as a deduction from revenues
Business
1 answer:
nalin [4]3 years ago
5 0

Answer:

c. balance sheet as a deduction from the cost of the resource

Explanation:

As we know that

The depreciation expense is to be charged on the fixed assets i.e building account, plant & machinery account, equipment account, furniture fixtures accounts, etc

Whereas the accumulated depletion is charged on the natural resources i.e minerals, coals, etc

It is shown in the asset side of the balance sheet

Asset side

Natural resource                       XXXXX

Less: Accumulated depletion  (XXXXX)

The Net balance of natural resource XXXXX

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The painter contracts to paint the exterior of the home for $1,750 plus the cost of paint and any other necessary materials. Abo
yawa3891 [41]

Answer:

substantial performance.

Explanation:

From the question we are informed about painter which contracts to paint the exterior of the home for $1,750 plus the cost of paint and any other necessary materials. About three-fourths of the way through the job, the contractor breaks his leg and can't finish. The owner offers to pay the contract price less deductions for the cost of having the job completed by another painter, and the original painter accepts the offer. In this case, the contract has been discharged under the principle of substantial performance.

Substantial performance can be regarded as a term that is been

used as regards contract law, it is a principle that can be explained as

degree of performance of a contract that is not regarded as complete or full performance, but regarded as nearly equivalent which will be considered to be unfair if the contractor is denied the agreed payment in the contract.

8 0
2 years ago
A client recently purchased a sizeable number of mutual fund shares and knows that the Net Asset Value will change daily. The cu
julsineya [31]

Answer:

(B) NAV per share is calculated by subtracting the liabilities of the fund from the total assets of the fund, then dividing this number by the total number of shares currently outstanding.

Explanation:

The Net asset value(NAV) of any mutual fund corporation can be determined using below mentioned formula:

Net asset value(NAV) per share=(Current market value of all assets - liabilities) /Total number of shares outstanding.

Based on the above formula, the statement which best describe the computation  to arrive at NAV per share is

(B) NAV per share is calculated by subtracting the liabilities of the fund from the total assets of the fund, then dividing this number by the total number of shares currently outstanding.

7 0
3 years ago
Which of the following statements about steering needed resources to execution-critical value chain activities is false? a. Good
makkiz [27]

Answer: a. a. Good execution of a new or revised strategy often requires devoting more resources to some value chain activities and perhaps downsizing the operating budgets and resources devoted to activities/organizational units with a lesser role in the new strategy

Explanation:

Executing strategy is an action-oriented task which tests the ability of a manager to direct changes in an organization and also achieve certain improvements regarding operations.

The statement about steering needed resources to execution-critical value chain activities which is false is that good execution of a new or revised strategy often requires devoting more resources to some value chain activities and perhaps downsizing the operating budgets and resources devoted to activities/organizational units with a lesser role in the new strategy.

6 0
3 years ago
A given economy consists of markets A and B. All workers are equally skilled and choose jobs based only on wages. Due to an exog
blagie [28]

Answer:C. full efficiency in this market could be achieved even without reallocating workers between the two markets.

Explanation:

The marginal product of labour is the additional value that will be gained from production from employment of additional labour. The Entrepreneur will be willing to employ additional labour if the wages is lower than the marginal productivity and efficiency will only be achieved at that point.

Moving the labour from to market will not achieved efficiency in either market, for the wage rate is higher than the marginal product of labour in both market.

Increasing wage rate will reduce the efficiency and there is need to increase efficiency by making the marginal product of labour to be higher than labour rate.

4 0
3 years ago
The liabilities of Oriole Company are $117,000 and the owner’s equity is $227,000. What is the amount of Oriole Company’s total
o-na [289]

Answer:

$344,000

Explanation:

Assets can be calculated by applying the accounting equations.  In the accounting equations

Assets = Liabilities + Equity

In this case, liabilities are  $117,000 and Equity is $227,000.

Therefore,

Assets = $117,000 + $227,000

Assets = $344,000

6 0
3 years ago
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