The principle difference between a personal liability company and a private company is that directors of a personal liability company, as well as previous directors, can be held responsible for the debts of the company. However, the owner of a personal liability company is considered separate from the company.
Experience surveys differ from surveys conducted as part of descriptive research in that there is usually no formal attempt to ensure that the survey results are representative of any defined group of subjects.
Explanation:
Descriptive research is classified as a form of analysis documenting the characteristics of the studied population or phenomenon. This approach relies primarily on the "what" of the topic instead of the "if" of the topic.
For example, in the periodical table explanations of the elements scientists were allowed to describe chemical reactions and predict when the elements were mixed. Descriptive work can not however identify the causes of a case.
Answer:
c. fixed-rate assets is greater than the value of its fixed-rate liabilities.
Explanation:
In the case when the rate of interest is reduced than the profit of the bank is increased. Also this case applied when the variable rate assets is less than the variable rate liabilities or the fixed rate of the asset is more than the fixed rate liabilities as in the given case the rate of interest would fallen the interest i.e. paid out that reduce more than the reduction in the interest income
Hence, the option c is correct
Answer:
1. 10 Oct 2018 Inventory $59500 Dr
Accounts Payable $59500 Cr
2. 13 Oct 2018 Accounts Payable $1700 Dr
Inventory $1700 Cr
Explanation:
1. The Textbook store is purchasing the books at $17 per book and in total 3500 books are purchased on credit. So, we debit the inventory account by 59500 (3500 * 17) and credit the Accounts Payable by 59500.
2. This transaction relates to Purchases return which in this case is our inventory of books. Textbook store will record this transaction in its books by debiting the Accounts Payable account by the value of the books returned 1700 (170* 100) and credit its inventory by 1700. The last line pertains to total estimation of sales returns by Piranha so we do not need to consider that while preparing transactions in Textbook store's books.
