Answer:
Current assets include inventory, while fixed assets include such items as buildings and equipment. Intangible assets are nonphysical resources and rights that have a value to the firm because they give the firm some kind of advantage in the marketplace.
Explanation:
Answer:
C. Step variable cost
Explanation:
Fixed costs are those costs which are incurred anyways irrespective of the level of operation of a business or the volume of activity. For example rent of factory is a fixed cost which has to be incurred regardless of the production level.
Variable costs are those costs which vary with the level of production. e.g labor cost.
In this case, a T- shirt is given to every 100th customer. This kind of cost is step cost at the level of 100th customer. The number of T-shirts in a day would depend upon the no of patrons arriving each day i.e variable.
Thus, this is the case of a step variable cost which is incurred at discrete point i.e every 100th customer.
Available options are:
A. The sale would be proper only upon requisite approval by the appropriate number of directors and at no more than Shephard's cost, thus precluding his profiting from the sale to the corporation.
B. The sale would be void under the self-dealing rule.
C. The sale would be proper and Shephard would not have to account to the corporation for his profit if the sale was approved by a disinterested majority of the directors.
D. The sale would not be proper, if sold for the present fair value of the property, without the approval of all of the directors in these circumstances.
Answer:
C. The sale would be proper and Shephard would not have to account to the corporation for his profit if the sale was approved by a disinterested majority of the directors.
Explanation:
The reason is that the transaction is arms length transaction and in this transaction the payer pays the amount that he must pay for an equivalent item which we call an fair value payment. The receiver here is a director though but he is receiving an legitimate price and this price is fair value of the property so he is not required to mention his profit share because the company is paying him fair value of the property.
Answer:
Fink's revenue from insurance premiums for the current year is: $13,500,000
Explanation:
Insurance premiums recognised for the current year -
Insurance collected + Beginning Deferred premiums account - Ending Deferred premiums account
= $ 17,900,000 + 4,000,000 - 8,400,000 = $13,500,000
Having a job not only helps people to earn money to live day by day but also have some benefits in the personal and emotional aspect.
