<span>The cost of borrowing money is called the interest. Interest is what you pay to the loan company or lender when you borrow money from them. The interest is what they are charging when they give you money for a purchase now while you pay them back overtime. </span>
Answer:
the contract is a. void.
Explanation:
this is because Huck has been declared as mentally incompetent by the court and that can only be changed by the court as well. so, when he agrees to sell and create a contract, it becomes void, no matter the value is or how closely it relates to the market value.
if it was Inez who came into the contract, then the contract would have been legally binding.
Answer:
D. exports more than it imports
Explanation:
A favorable balance of payment is a term used in international trade to describe a situation where a country's exports exceed imports. A country will experience a positive balance of payment if its a net exporter. A favorable balance of payments is when there is a surplus in a country's balance of trade.
Exports are goods and services manufactured within the borders of a country and sold to foreigners. Imports are products bought from other countries. In calculating the balance of payment, net income from international assets is also considered.
Answer:
Note: The full question is attached as picture below
a. Equity income that the investor should report in its income = Net income * Investor share = 400,000 * 30% = $120,000
b. Particulars Amount
Equity investment opening 500,000
Add: Equity income 120,000
Less: Dividend paid <u>60,000</u>
Equity investment at end of year <u>560,000</u>
c. The fair value of the Investee company will remain at adjusted cost. and the investment is not adjusted to fair value
Answer:
The correct answer is letter "D": does not require estimates of bad debt losses.
Explanation:
There are mainly two approaches while recognizing bad debts (unpaid debts): <em>the allowance method </em>and <em>the direct write-off method</em>. Using the allowance method the unpaid account receivable goes through a series of stages until it is recognized as a bad debt. There are no set criteria to do so. When the firm eventually recognizes and calculates the amount of a bad expense, it is recorded in an allowance account. The negative balance diminishes the company's revenue.
The direct write-off method does not generate any allowance account. The account receivable is simply written-off after the company determines the debt as uncollectible. Thus, there is no need to estimate bad debt losses using this approach.
