<span>The principal amount is $12,500. From the above statement the interest for two months is $220. And the annual interest is 1320. This is 10.56% of the principal amount. So the rate of interest in 10.56</span>
In getting the gross profit, you need to add all the assets and less the expenses. See below:
Asset - Expenses = Profit
Below are the assets:
$ 23,000 cash on hand
$ 34,000 cash on bank
Therefore the total asset is $ 57,500
While the expense is $41,500
Solution: $57,500 - 41, 500 = $16,000
I hope it helps
Answer:
Any transaction in cash, either paid or received eg. bought goods from supplier on cash.
Some time supplier offers customer the credit so he can pay later. Bought goods from supplier which are payable in 30 days.
Revenue expenditure is short-term expenditure used to run daily operations eg. Rent, Salaries. These are treated as expense in SOCI.
Where as capital expenditure is one-time large expenditure which generate revenue for company in future. eg Plant and Machinery, Equipment, Furniture. These are capitalized as in SOFP as they meet the definition of Asset (ie Future economic benefits will flow to entity).
Answer:
d. Both people and organizations can be held liable for unauthorized duplication and use of copyrighted programs
Explanation:
1980 revisions to the copyright act of 1976 deals with various issues relating to copyright, including those relating to computer software.
However, amongst many of its codes and regulations, one of them is that the 1980 revisions to the copyright act of 1976 stipulated that" both people and organizations can be held liable for unauthorized duplication and use of copyrighted programs."
Hence, the correct answer is option B.
