Answer:
A) A fixed expenditure is any cash outflow that remains constant regardless of the level of activity. This is in contrast to a variable expenditure, which changes ratably with changes in activity.
B) Irregular expenditure is 'expenditure other than unauthorised expenditure, incurred in contravention of or that is not in accordance with a requirement of any applicable legislation
C) A discretionary expense is a cost that a business or household can get by without, if necessary. ... For example, a business may allow employees to charge certain meal and entertainment costs to the company. This is done in order to promote goodwill with employees, rather than to ensure the firm's survival
Not adjusting the amounts reported in the financial statements for inflation is an example of Monetary unit basic principle of accounting.
What is Monetary unit?
The monetary unit principle stipulates that only transactions that may be stated in terms of a currency should be documented. In other words, non-quantifiable items shouldn't be recorded in the financial statements of a company. Money has become a common measurement unit in accounting over time.
Therefore,
Not adjusting the amounts reported in the financial statements for inflation is an example of Monetary unit basic principle of accounting.
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Answer: Advertisement is a marketing communication. It is used to promote businesses and their products. Used to promote more effectiveness in a businesses profit and their sales. May be seen in the form of commercials or billboard announcements in everyday life.
Answer:
$20,000
Explanation:
Bond discount at the issuance of bond:
= Worth of Bonds issued - [(Worth of Bonds issued ÷ 100) × Issue price]
= 705,000 - [($705,000 ÷ 100) × 98]
= $705,000 - $690,900
= $14,100
Bond Payable = $705,000
Unamortized bond discount:
= Bond discount at the issuance of bond - Amortized amount
= $14,100 - $8,200
= $5,900
Redemption Value of Bond = Retired price of bonds × 7,050
= 102 × 7,050
= $719,100
Loss on retirement on Bond:
= Redemption Value of Bond - (Worth of Bonds issued - Unamortized bond discount)
= 719,100 - (705,000 - 5,900)
= 719,100 - 699,100
= $20,000
Answer:
$267,500
Explanation:
First-year sales are $250,000
Second-year sales will increase by 7 percent.
The first-year sales were 100%, second-year sales should be 107%
The first-year sale was $250,00; second-year sale will be 107% of $250,00
= 107/100 x 250,00
=1.07 x $250,000
=$267,500
