A business operated by state legally...... is called corporation
Answer:
$10,950 Unfavorable
Explanation:
For computation of flexible budget variance for total costs first we need to find out the standard cost which is shown below:-
Standard cost = (Sold connectors × budgeted variable costs) + Fixed costs per month
= (77 × $150) + $5,500
= $11,550 + $5,500
= $17,050
Flexible budget variance for total costs = Actual cost - Standard cost
= $28,000 - $17,050
= $10,950 Unfavorable
In accounting, currency, coins, checks, money orders, and funds on deposit in a bank are recorded in cash.
<h3>What is cash in a bank in accounting?</h3>
- Cash in Bank refers to the current balance in checking or savings accounts or other accounts of a similar nature held in the name of the company or business requesting the certificate. Do not include amounts from personal bank accounts or retirement accounts.
- Every month, the bank will normally send the account holder an official bank statement that lists all of the transactions that occurred on the account that month. Account information can be found on bank statements, including account numbers and a thorough list of deposits and withdrawals.
- There are three different forms of accounting transactions based on the exchange of money: cash transactions, non-cash transactions, and credit transactions.
In accounting, currency, coins, checks, money orders, and funds on deposit in a bank are recorded in cash.
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The instrument that Shawn must use is “payable to the order of” before the name of the payee.
<h3>Requirements of Negotiability </h3>
- The first of the four major considerations is whether or not a paper is negotiable, and it is one that nonlawyers must address.
- Auditors, retailers, and financial institutions frequently handle notes and checks and must make quick decisions about negotiability.
- In a negotiable instrument, the only permissible promise or direction is to pay a particular sum of money. Any other promise or command renders negotiability null and void
- This restriction exists to prohibit an instrument from having an uncertain value.
- If the bearer of a negotiable instrument had to examine whether a provision or condition had been met before the thing had any value, the utility of the object as a substitute for money would be severely diminished.
Hence, the instrument that Shawn must use is “payable to the order of” before the name of the payee.
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Answer:
the correct answer is
c. Whether the gift was reasonable in the circumstances.
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