Answer:
d. A debit to Allowance for Uncollectible accounts and a credit to accounts receivable
Explanation:
In an entity using the allowance method all write offs of receivables are routed through the allowance account.
The allowance account is credited with the estimated amount of uncollectible accounts and the bad debts expense account is debited.
When an account receivable is written off it is debited to the allowance for uncollectible accounts is debited and receivable accounts is credited.
Answer:
A. planning, scheduling, and controlling.
Explanation:
The phases of project management are -
1. Initiation
2. Planning
3. Execution - Scheduling
4. Control
5. Close
Option A is correct because the answer includes the 2nd, 3rd, and fourth phases of project management.
Option B is wrong because programming is not a phase of project management. Option C is a combination of management functions. Therefore, it is incorrect. Option D is not correct as the service project is not different from the manufacturing project. Option E is the project management technique.
Answer:
b. buildings and machines used in the production process
Explanation:
In economics, capital is one of the four factors of production. It refers to the assets used in the production of other goods and services. These assets include buildings, plants, and machinery used in manufacturing, and are not part of the output. Capital includes financial assets needed in facilitating the production process.
In finance and accounting, capital will refer to money or cash equivalents. In economics, capital is not limited to finances only. It includes all the assets used to create wealth. Minerals, equipment, and intangible assets such as copyrights and patents are considered as capital.
Answer:
The answer is a. States benefits are payable to an individual who is related to the deceased insured by blood or marriage
Explanation:
A facility of payment clause is a provision in life insurance that allows the insurance company to choose the beneficiary or give part of the proceeds to someone other than the beneficiary. The company may have the choice of giving the entire death benefit to a relative of the insured, for instance, after his or her death because the official beneficiary is a minor or is also deceased.
Answer:
The I.T. payable for 2016 is $35,000
Explanation:
Use the following formula to calculate the IT payable for 2016
IT payable = Tax on Income - DTA balance
Where
Tax on Income = Income x Tax rate = $200,000 x 35% = $70,000
DTA balance = $35,000
Placing values in the formula
IT payable = $70,000 - $35,000
IT payable = $35,000
