Answer:
The sale of the car is canceled
Explanation:
For two reasons I think this. Jack had already sent out a letter to jill stating that the car is no longer for sale. As the current owner of the vechile he has the right at any point in time to draw out of the deal up till the actual signing over of the car.
Answer:
c. Debit Cash, credit Unearned Revenue.
Explanation:
The journal entry is shown below:
Cash A/c Dr $2,000,000
To Unearned Revenue A/c $2,000,000
(Being advance cash is received)
For selling the advance tickets, we debited the cash account as cash is received and credited the unearned revenue because the service is not performed. It is recorded as a liability
Hence, the most appropriate option is c.
Therefore, all other options are wrong
Answer:
B. Defensive Strategy
Explanation:
One thing that is inevitable in business is competition. Dexter decided to use a defensive strategy for his business with his retirement coming in and competition becoming even stronger.
Defensive strategies are management techniques used to "fend off attacks" from competitors. It helps the decision maker hold on to shares of the market. Some companies do this to lower the risk of being attacked when they perceive attacks coming from competitors so in turn, those competitors can focus on other competitors in the market.
Answer:
approximately correct and reliable
Explanation:
Remember, product costing is a summation of the cost incurred from the manufacturing process.
Direct material usage of product X implies; the value of the parts that go directly into producing products.
While the Manufacturing overhead costs are the cost that are factory-related which are incurred when producing a product, such as the cost of machinery and the cost to operate the machinery.
If the total <u>direct materials cost </u>and the <u>manufacturing overhead </u> are known, then the accountant could estimate the fraction used by Product X.
For the case of a consumer with an inelastic demand curve, it is less costly to cater for them, hence reducing the production fixed cost. given that different customers will be charged differently for the same product, it is easy to cover for a low profit range.