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3 years ago

Which one of the following statements is true?

Business

1 answer:

Alecsey [184]3 years ago

6 0

Answer:

b. A manufacturing company will normally have raw materials, work in process, and finished goods as inventory account classifications.

Explanation:

A manufacturing unit will generally follow, three step completion of goods while manufacturing, as in primary state the company requires raw material for processing it and making it finished good.

After that the goods are processed and as all goods require some further time to process, some goods remain in between some stage called, work in process, where some processing is done, and some is left.

The last stage is to become a finished good, once the goods are completed, it is called finished goods and then goods are aimed to be sold.

Therefore, correct statement is statement B.

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For many years, college costs (including tuition, fees, and room and board) increases have been higher than the inflation rate,

arsen [322]

Answer: $23,888

Explanation:

The cost today for a freshman at a public university is $19,500.

Inflation is at 7% a year and the period is 3 years from now. It is best to use a future value formula:

= Fees * ( 1 + rate) ^ number of years

= 19,500 * ( 1 + 7%)³

= 19,500 * 1.225043

= $23,888

3 0

3 years ago

Presented below are the basic assumptions and principles underlying financial statements. a. Historical cost principle d. Going

dimulka [17.4K]

Answer:

1. Periodicity assumption.

2. Going concern assumption.

3. Historical cost principle.

4. Economic entity assumption.

5. Full disclosure principle.

6. Monetary unit assumption.

Explanation:

1. Periodicity assumption: The economic life of a business can be divided into artificial time periods. It is also known as the Time period assumption.

2. Going concern assumption: The business will continue in operation long enough to carry out its existing objectives.

3. Historical cost principle: Assets should be recorded at their acquisition cost.

4. Economic entity assumption: Economic events can be identified with a particular unit of accountability.

5. Full disclosure principle: Circumstances and events that could make a difference to financial statement users should be disclosed.

6. Monetary unit assumption: Only transaction data that can be expressed in terms of money should be included in the accounting records.

5 0

3 years ago

________ covers the expression of creative ideas such as documents, web content, movies, musical compositions, lectures, and com

nata0808 [166]

The best answer to the question is (D) copyright law.

Copyright law is defined as exclusive rights that a creator has for his or her creations, which encompasses literary and artistic works, such as ones mentioned in the question: musical compositions, movies, web content, etc.

The other options are unsuitable since patent protection is for inventions, trademark theory is for companies and their products, while free-market case law does not refer to an actual set of laws.

7 0

3 years ago

If an individual orders an alcoholic beverage in a private club, what is the first question the server should ask?

Free_Kalibri [48]

Answer

He should ask him/her whether is a member and ask for a membership card.

Explanation

Membership cards are small cards that are used by or within a certain organisation for the purpose of verifying whether a person is a valid member of that organisation or club or whichever type of a group it is . For one to have a membership card you have to pay a certain amount of money as a membership fee to that organisation. The fee might be annually regarding to the terms of that organisation.

3 0

3 years ago

Read 2 more answers

An organizationally-driven reason for outsourcing is that it can improve effectiveness by focusing on what the firm does best.

VARVARA [1.3K]

Answer:

True

Explanation:

Outsourcing is when a company gives some of its internal activities to an external party that takes the responsibility to get things done and one of the reasons for a company to do this is to get rid of activities that have to get done but that are not part of their core operations to be able to concentrate on their main activity and get those things done by experts which can help increase productivity. According to that, the answer is that the statement is true.

6 0

3 years ago