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3 years ago

What is a commodity?

Business

1 answer:

BabaBlast [244]3 years ago

3 0

The correct answer is D. Something of value that can be bought, sold, or traded

Explanation:

The word "commodity" is used in economics to refer to any good or product that has an economic value and due to this, can be part of the market. This means any commodity can be traded, sold, or bought. Moreover, this concept is mainly applied to raw materials such as coal, timber, or wheat that can be used to make other manufactured products such as plastics, furniture, or flour. According to this, the option that correctly describes the word commodity is option D.

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Hutter Corporation declared a $0.50 per share cash dividend on its common shares. The company has 37,000 shares authorized, 19,2

kipiarov [429]

Answer:

E. Debit Retained Earnings $7,400; credit Common Dividends Payable $7,400.

Explanation:

The Journal entry is shown below:-

Retained earnings Dr, $7,400 (14,800 × $0.50)

To Common dividend Payable $7,400

(Being dividend declaration is recorded)

Here to record the dividend declaration we simply debited the retained earnings as it decreased the stockholder equity and credited the common dividends payable as it increased the liability

So the correct option is D.

4 0

3 years ago

The credit terms offered by Neutron Enterprise are 2/10, n/30. Neutron sold goods on account to James Company on Jun 14 for $300

Pie

Answer:

Cash A/C Debit $300

To James company $300

(Amount collected from James Company for credit sale)

Explanation:

Cash A/C Debit $300

To James company $300

(Amount collected from James Company for credit sale)

Note: The terms here provided that, 2/10, n/30.

Which means that 2% discount if payment made within 10 days, and total 30 days credit allowed.

Here the sales were made on 14 June, and payment received on 27 June that is it took more than 10 days as 10 days complete on 24 June.

Therefore, no discount will be offered.

5 0

3 years ago

Vertical accountability refers to the ability of _________.

Wewaii [24]

Answer:

Vertical accountability refers to the ability of

a. individuals and groups to hold state institutions accountable

Explanation:

When discussing accountability in governance, there are different types which include vertical accountability and horizontal accountability.

Vertical accountability refers to the ability of individuals and groups to hold state institutions accountable and horizontal accountability refers to the ability of the legislature to hold the executive accountable.

4 0

3 years ago

Adding a chart to the header of a form will result in a(n)

Sonbull [250]

Answer:

Chart without a legend.

Hope this helped.

8 0

3 years ago

A legal arrangement where two or more people share ownership of a business is called a ______. A. Corporation b. Sole proprietor

liubo4ka [24]

The correct statement is that a legal arrangement where two or more people share ownership of a business is called a partnership. So, the correct option is C.

A partnership may be started by two individuals with an intention to share the profits and losses of such business in a predetermined proportion.

<h3>Partnership Firm </h3>

A partnership firm is a form of business organization where at least two individuals put their resources and carry a legal business.

The individuals of a partnership firm are collectively known as partners, where they tend to share the profits and losses proportionately to their capital invested.

There exists vicarious liability among the partners, which means that all the partners are liable for the acts of one or more partner as per the legal contract.

A partnership firm may be terminated by lapse of time, dispute between the partners, dissolution, insolvency, but has a perpetual succession.

Hence, the correct option is C that legal arrangement where two or more people share ownership of a business is called a <u>partnership. </u>

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Learn more about partnership firm here:

brainly.com/question/6346527

6 0

2 years ago