Answer:
No, legal consideration is absent
Explanation:
According to the given situation, the President of ABC company was promised to Helen to give a new car next week as Helen worked for 25 years. But the president did not give the car as he promised to the Helen.
In this case, there was a promise which was verbal, not in the way of legal consideration, which means there is no proof so that Helen can claim from the president.
Therefore the correct answer is No, legal consideration is absent
Answer:
The business must explicitly articulate values that emphasize ethical behavior.
Explanation:
Answer:
the business will pay for the supplies at a later time
a liability has been incurred.
the Accounts Payable account will be increased.
Explanation:
In the case when the supplies are purchased on credit, the following entry should be passed
Supplies Dr XXXX
To Account payable XXXX
(Being supplies purchased on credit is recorded)
here supplies is debited as it increased the asset and credited the account payable as it also increased the liabilities
So the following options should be chosen
1. The business would pay at a later time
2. Liability is incurred
2. The account payable is increased
Answer:
Cost Of Goods Sold= $1,930,000
Explanation:
Giving the following information:
Beginning Finished goods inventory 190000
Ending Finished goods inventory 150000
Cost of goods manufactured for 2020 amounted to $1890000
COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory
COGS= 190,000 + 1,890,000 - 150,000= $1,930,000
Answer: Option (A) is correct.
Explanation:
When there is an increase in both the components of aggregate demand i.e. government spending and taxes then this will most likely to offset the fiscal policy actions.
If there is an increase in the taxes, as a result aggregate demand decreases because of lower disposable income. This policy action is known as Contractionary fiscal policy.
Whereas, if there is an increase in the Government spending, as a result aggregate demand increases. This policy action is known as Expansionary fiscal policy.
But this will also largely depend upon the tax multiplier and government spending multiplier.
