Answer:
Explanation:
Authorized shares are the number of shares that a corporation is legally allowed to issue, while outstanding shares have already been issued. Thus, the number of outstanding shares is always equal to or less than the number of authorized shares.
Certain liabilities, which includes rebates, refunds, and employees reimbursement payments, may be deducted while incurred irrespective of while charge is ma is INCORRECT concerning the necessities to satisfy the financial overall performance test.
The required details for liabilities in given paragraph
A legal responsibility is some thing someone or corporation owes, normally a sum of money. Liabilities are settled over the years thru the switch of financial advantages consisting of money, goods, or services. Recorded at the proper aspect of the stability sheet, liabilities encompass loans, debts payable, mortgages, deferred revenues, bonds, warranties, and accumulated expenses. Liabilities may be contrasted with property. Liabilities consult with matters which you owe or have borrowed; property are matters which you personal or are owed. a legal responsibility is an responsibility among one celebration and every other now no longer but finished or paid for. In the arena of accounting, a monetary legal responsibility is likewise an responsibility however is greater described through preceding enterprise transactions, events, sales, trade of property or services, or whatever that could offer financial gain at a later date.
Current liabilities are normally considered short-term (anticipated to be concluded in three hundred and sixty five days or less) and non-present day liabilities are long-term (three hundred and sixty five days or greater).
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Complete question
Which of the following statements is INCORRECT regarding the requirements to meet the economic performance test under the various ways a liability can arise?
<u>Answer:</u>
1. venture capital : F. a pooled investment vehicle that primarily invests the capital of third-party investors in enterprises that are too risky for the standard capital markets
2. Venture capital fund
:J. Money used to support new or unusual undertakings.
3. venture capitalist
: E. one who provides capital, usually in cash- in exchange for shares in a company- for high-risk investments.
4. startup company :B. a business with a limited operating history
5. projected income statement
: I. May also refer to an annual projection of income and expenses for a company
6. reserve capital
:H. refers to the means by which cash will be acquired to cover future expenses
7. financial plan
:D. one way to figure out the cost of starting a business
8. financial forecast :A. Money put aside for unexpected expenses or events
9. finance plan
: C. A type of budget for spending and saying future income
10. interviews: G. An estimate of one's income
Answer:
A) Television repair (Job costing)
B) Cell phone charge cords (Process costing)
C) Glassware with company logo (Job costing)
D) Dog food (Process costing)
E) Golf balls (Process costing)
F) Hotel signs to welcome guests (Job costing)
G) Highlighters and pens (Process costing)
Explanation:
Job order costing is used with unique products, and the costing of the journal entry process is used for generic goods. While for short production terms job costing is implemented, the journal entry is used for large production terms. Journal entries cost aggregates, thus requiring less record keeping.
In that case:
A) Television repair (Job costing)
B) Cell phone charge cords (Process costing)
C) Glassware with company logo (Job costing)
D) Dog food (Process costing)
E) Golf balls (Process costing)
F) Hotel signs to welcome guests (Job costing)
G) Highlighters and pens (Process costing)
