Fixed cost remained constant regardless of how many products are sold. Fixed cost is a cost behavior which always emerged regardless of the quantity product sold. Machine depreciation expense, insurance expense, and rent expense are several examples of this cost behavior. On the contrary, variable cost is an another type of cost behavior that changes relating to the quantity of the sold product.
Because it pays a higher rate of interest.
A savings account is better than a checking account for saving money because they normally pay a higher interest rate than a checking account. Quite often, a checking account will not pay any interest at all.
Please help me! This is due tomorrow and I really need some help! Thank you.
Answer: Expropriation
Explanation:
Expropriation means to take possession of a private property for public use.
Expropriation can be defined as the process by which government takes over private owned properties against the wishes of the owners.
Government takes over those properties with the aim of using them to benefit the public. The property owners might be compensated.
The government expropriate private properties sometimes, for infrastructural purpose such as airport, highway and railway.
Expropriated properties are usually taken against the wish of the private owners.
Answer:
a) $1,000
Explanation:
Early Settlement Discount
This form of quotation is common with suppliers offering their customers deferred payment arrangement in a sale contract. Usually, under this arrangement customers are allowed to purchase goods on credit and settle their acccount at a specified later date.
However, to encourage customers to pay up their outstanding earlier than expected, suppliers do offer early settlement discount as incentives to induce prompt payment.
A quotation of 2/10, n/30
This implies that the customer is a given a 30-day period from the date of purchase within which he is expected to settle his account. However, if he does so within the next 10 days of purchase he will be given a 2% discount.
<em>Applying this to the question, the purchase date is August 1, the the latest date for which account is settle to qualify for early settlement discount will be 11 days i.e (1+10) .</em>
Since the payment will be made on August 12, no cash discount will received. Therefore, a payment of gross amount of $1,000 would be credited to the cash account.
