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s2008m [1.1K]
3 years ago
14

Decentralized purchasing is the practice where individual, local purchasing departments throughout a single corporation make the

ir own, individual purchasing decisions to fulfill their individual local needs.True / False.
Business
1 answer:
likoan [24]3 years ago
3 0

Answer:

True

Explanation:

Decentralised purchasing also means the purchase of each manufacturing center necessity in the organisation. This method, instead of dropping buying power with a single branch,it would be given to regional offices or branches. They have the power to buy the items needed as per their demands. Acquiring in large quantities lowers the cost to the company.

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On January 1, 2018, Gillock Climbing Academy instituted a defined benefit pension plan for its employees. The annual service cos
Licemer1 [7]

Answer:

Pension Expense = EBE = $593440 for income statement

Explanation:

The opening balance of the Plan asset is made by the 40000 from 2018 plus interest of 32000 and the new 400000 made this year. Why include it? Because an opening balance are the funds in an account at the beginning of the year either from last year or are from current year but should be the first entry in the books of the current year.

                                                                 DBO                plan asset       EBE

opening balance                                   (600000)            832000             -

interest                                                   ( 60000)              66560            6560

current year's service cost                    (600000)                               (600000)

                                                            (  1260000 )            898560      <u> 593440</u>

 balance sheet liability = 361440

5 0
4 years ago
Read 2 more answers
Hank, a calendar-year taxpayer, uses the cash method of accounting for his sole proprietorship. In late December, he performed $
ICE Princess25 [194]

Answer:

Hank

a. After-tax income if bill is sent in December

= $30,000 * 0.68 (1 - 0.32) = $20,400

Return on investment of $20,400 * 1.01% = $20,604

b. if bill is sent in January

= $30,000 * 0.65 (1 - 0.35) = $19,500

c. Hank should send the bill in December.

d. with marginal tax rate = 24% next year, after-tax income

= $30,000 * 0.76 (1 - 0.24) = $22,800

e. He should send his bill in January.

Explanation:

a) Data:

Value of legal services for a client = $30,000

Marginal tax rate = 32% this year and 35% or 24% next year

After-tax rate of return = 12%

b) The after-tax income represents the amount of Hank's revenue that remains after tax has been deducted or paid.  It is what belongs to Hank after the taxman has taken his cut.

7 0
3 years ago
Defining a business in terms of goods and services rather than in terms of the benefits customers seek is called _____.
viva [34]
<span>Marketing Myopia is the term for when a company does business in terms of goods and services instead of focusing on the benefits consumers are looking for. These companies are focused on the bottom line. It is considered a short-sighted view by most experts and often causes the companies in question to be unable to quickly adjust when there are changes in their particular markets.</span>
6 0
3 years ago
The account that is brought up to date after the closing entries have been journalized and posted is the ____.
yanalaym [24]

Complete/Correct Question:

The account that is brought up to date after the closing entries have been journalized and posted is the ____.

A. Sales account

B. Purchases account

C. Capital Stock account

D. Retained Earnings account

Answer:

D, retained earnings account

Explanation:

Retained earnings can be defined as the accumulated income of a firm, that is retained by firm, after a certain period of time. After a certain time could be after the reporting period.

Simply put, retained earnings can be said to be the amount of income that a firm keeps after a period such as declaring financial reports.

The retained earnings is always reported and recorded in the stakeholder's equity and the company's balance sheets respectively. Retained earnings signify or represent how much of its profits a firm has reinvested itself.

Cheers.

5 0
3 years ago
Martinez Furniture Company started construction of a combination office and warehouse building for its own use at an estimated c
baherus [9]

Answer:

$530,672

Explanation:

Base on the scenario been described in the question, we can use the following method to compute the avoidable interest on this project

Use the attached file below to find the solution to given problem .

3 0
4 years ago
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