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3 years ago

What is the definition of liability

Business

2 answers:

julsineya [31]3 years ago

8 0

Lability refers to something that is constantly undergoing change or is likely to undergo change.

ohaa [14]3 years ago

6 0

<span>A liability is a company's financial debt, liability arises during the debt or obligations during its course of work operations

hope i helped!
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During the first year of operations, a company sold $113,000 of goods to customers and received $96,500 in cash from customers.

Oksi-84 [34.3K]

Answer:

Net Income for the year is $41700

Explanation:

The accounting basis that is generally followed by the businesses is the accrual basis of accounting. The accrual principle states that incomes and expenses should be recorded and recognized in the period to which they relate to rather than in the period where cash is received or paid.

This means that we will record income and expenses related to this year in this year's profit calculation even when we have not received or paid cash for such incomes and expenses.

Thus, net income for this year will be calculated as,

Net Income = Total Sales Revenue - Total expenses

Net income = 113000 - 71300

Net Income = $41700

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3 years ago

One factor that influences the consumer decision-making process is __________, which refers to the set of values, attitudes, and

Ray Of Light [21]

Answer:

culture

Explanation:

culture: it is combination of values and moral that someone inherit from their forefather. it has very firm effects on decision making process. culture factors like occupation, economic background of consumer and lifestyle etc affect the decision of consumer. it is the value that passes from one generation to another.

culture is that stiff part of one life that cannot be change with time and more or less on the basis this consumer change its decision.

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3 years ago

Nate is going to the grocery store to pick up a few things. he decides not to write a list and instead repeats the eight items h

Vilka [71]

Rehearsal.

Behavior rehearsal is a technique where thoughts, actions, or words are practiced before needing to put them into practice.

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4 years ago

Sweeties, Inc., manufactures a sugar product by a continuous process, involving three production departments-Refining, Sifting,

babymother [125]

Answer and Explanation:

Journal Entries to record the flow of costs into the refining department

Dr Work-in process - Refining Department $369,000

Cr Materials $369,000

Dr Work-in process - Refining Department $146,000

Cr Wages Payable $146,000

Dr Work-in process - Refining Department $97,600

Cr Factories Overhead - Refining Department $97,600

b. Entry to record the transfer of production costs to the second department

Dr Work-in process - Sifting Department $614,400

Cr Work-in process - Refining Department $614,400

Work-in process - Sifting Department [$30,200 + ($369,000 + $146,000 + $97,600) - $28,400]

=$30,200+($612,600-$28,400)

=$30,200+$584,200

=$614,400

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3 years ago

The following cost data pertain to the operations of Rademaker Department Stores, Inc., for the month of March. Corporate headqu

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Answer:

The answer is c. $40,700.

Explanation:

The direct costs of the Cosmetics Department are all the costs which are incurred for the operations & revenue generating activities of the Cosmetics Department only; which may be incurred at the Department itself or at other Department(s)/Store(s) which the purposes are for serving the Cosmestic Department.

Thus, these costs include the following cost items:

Cosmetics Department sales commissions--Northridge Store + Cosmetics Department cost of sales--Northridge Store + Cosmetics Department manager's salary = $5,160 + $31,300 + $4,240 = $40,700.

So, the answer is c. $40,700

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4 years ago