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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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Thome and Crede, CPAs, are preparing their service revenue (sales) budget for the coming year (2020). The practice is divided in

MrRissso [65]

Answer and Explanation:

The Preparation of service revenue is prepared below:-

For Quarter 1

Billable Hours Billable rate Total

Auditing 2,450 84 205,800

Tax 3,130 94 294,220

Consulting 1,640 105 172,200

Total 672,220

For Quarter 2

Billable Hours Billable rate Total

Auditing 1,840 84 154,560

Tax 2,650 94 249,100

Consulting 1,640 105 172,200

Total 575,860

For Quarter 3

Billable Hours Billable rate Total

Auditing 2,330 84 195,720

Tax 2,300 94 216,200

Consulting 1,640 105 172,200

Total 584,120

For Quarter 4

Billable Hours Billable rate Total

Auditing 2,710 84 227,640

Tax 2,800 94 263,200

Consulting 1,640 105 172,200

Total 663,040

Now the total revenue is

= $575,860 + $584,120 + $663,040

= $1,823,020

5 0

4 years ago

Presented below are definitions of certain terms. Select the appropriate term from the dropdown list. Definitions 1. Quantity of

MatroZZZ [7]

Answer:

1. Ideal standard

2. Management by exception

3. Standard cost card

4. Standard cost

Explanation:

Costing is the measurement of the cost of production of goods and services by assessing the fixed costs and variable costs associated with each step of production.

In Financial accounting, a direct cost can be defined as any expense which can easily be connected to a specific cost object such as a department, project or product. Some examples of direct costs are cost of raw materials, machineries or equipments.

On the other hand, any cost associated with the running, operations and maintenance of a company refers to indirect costs. Some examples of indirect costs are utility bill, office accessories, diesel etc.

1. Ideal standard: quantity of input required if a production process is 100% efficient.

2. Management by exception: Managing by focusing on large differences from standard costs.

3. Standard cost card: record that accumulates standard cost information.

4. Standard cost: preset cost for delivering a product or service under normal conditions.

8 0

3 years ago

Marginal social cost is the marginal cost incurred by the entire society - by the producer and by everyone else on whom the cos

Airida [17]

Answer:

Marginal social cost is the sum of marginal private cost and marginal external cost

Explanation:

Marginal social cost is the total cost society pays for the production of another unit or for taking further action in the economy.

Marginal Social Cost= MPC+MEC

where MPC = Marginal private cost

MEC = Marginal external cost

A private cost of production is a cost that is borne by the producer of a good or service. on the other hand, A marginal external cost is the cost of producing an additional unit of a good or service that falls on people other than the producer.

3 0

3 years ago

The expected average rate of return for a proposed investment of $5,190,000 in a fixed asset, using straight-line depreciation,

Scorpion4ik [409]

Answer:

15%

Explanation:

Average rate of return = average net income / amount invested

average net income = $15,570,000 / 20 = $778,500

Amount invested = $5,190,000

$778,500 $5,190,000 = 0.15 = 15%

4 0

3 years ago

What can a pharmaceutical manufacturer do to help ensure that its pain reliever and allergy

erastova [34]

The answer is C
( to reduce risk of product tampering)

8 0

3 years ago

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