Answer: Factory overhead control
Explanation: Factory overhead is the account where the amount of cost incurred while manufacturing a product is recorded and no direct labour or material is recorded. When the manufactured goods are finished and produced they are recorded as expenses when the goods are sold as manufactured finished products.
All the expenses related to the factory are included in this account such as rent, utility, electricity, supplies, tools. Factory overhead is known as manufacturing burden or expenses.
if the discount (or interest) rate is positive, the future value of an expected series of payments will always exceed the present value of the same series
True
What is a discount(or interest) rate?
An interest rate is the rate of return the present value of the series can over as an interest over the investment time horizon.
On the premise that the interest rate is positive, it means that there would positive value-added over the investment period which increases the present value to ensure that the future value exceeds the present value
In other words, a positive discount or interest ensures a higher future value
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Option D
Revolving credit agreement short-term financing sources Kenneth utilizes to fund his business in the given scenario
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Revolving credit means is a line of credit that is established among a bank and a business. It has an organized peak amount, where the firm has a way to the funds at any time when demanded. It is required for companies that may seldom hold low cash surpluses to continue their networking capital demands.
Because of this, it is frequently regarded as a kind of short-term funding that is normally paid off suddenly. To begin the loan, a bank may impose a commitment fee. This remunerates the bank for holding an open way to a potential loan, where interest fees are only initiated when the revolver is carried.
Answer:
On the balance sheet, the inventory would appear as:
Inventory $248,000
Explanation:
In the notes to the accounts, the method of determining the cost and the method of valuing the inventory would be disclosed. It is not disclosed on the balance sheet, but on the notes to the accounts.
It would make the balance sheet appear unorganized to include details that should have been included in the notes. The presentation of information is very important in order to ensure that those reading the information understand it. Understanding is not aided by including information that could be displayed elsewhere.
