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Irina18 [472]
3 years ago
8

Liabilities can be best described as:A. The amount of expenses over the past year.B. The amount expected to be distributed to st

ockholders.C. The amount owed to creditors.D. The amount of services provided to customers during the year.
Business
2 answers:
yanalaym [24]3 years ago
8 0

Answer: Option C

Explanation: In simple words, liability refers to the obligations that is to be fulfilled in the future or in the current period. It is the amount of sacrifice of resource that an individual or firm have to do due to some past transactions or events.

The amount owed to creditors is an obligation to pay him in the future. This might have arise due to purchase of something on credit from him.

Thus, the correct option is C.

Simora [160]3 years ago
7 0

Answer:

C. The amount owed to creditors

Explanation:

In general, Liabilities are obligations or something that the company owes someone else other than the owners.

In Business, Liabilities are the legal financial debts or obligations that arise because of the operations of the business.

<em>Keyterms:</em><em> Owed, Creditors, Obligations, liabilities</em>

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g Floyd Corporation had a projected benefit obligation of $3,142,000 and plan assets of $3,308,000 at January 1, 2020. Floyd als
Lorico [155]

Answer:

Floyd Corporation

a. Projected benefit obligation, 01/01/2020 =  $ 3,142,000

b. Plan asset value, 01/01/2020   =                  $ 3,308,000

Corridor:

10% of greater of (a) or (b) [(b) in this case] =     $330,800

Actuarial loss =                                                    ($438,720)

a) Minimum Amount to be amortized =              $107,920

Average remaining service life of employees = 7.10  years

b) Amount to include in pension cost for 2020 = $15,200

Explanation:

Floyd is required to use the Corridor approach to determine the amount of gains and losses to recognize (amortize) in pension expense each period.  The corridor approach is a technique used to reduce the amounts of gains and losses to be recognized as an adjustment to pension expense.

With this technique gains and losses in excess of 10 percent of the greater of the projected benefit obligation or the market-related asset value are recognized.  The 10 percent is the corridor.

Any excess over the 10 percent should be amortized over the average remaining service period of active employees expected to participate in the plan.  This amount represents the minimum amount a company can recognize.   No gain or loss is recognized when the gains or losses are not in excess of 10% of the appropriate amount.

The corridor reduces the volatility of the pension expense.

7 0
3 years ago
all of the following people would be considered insureds under the liability section of a homeowners policy except
Minchanka [31]

All of the following are considered to be insured in the homeowners policy except Persons under age 21 who are residents of the household.

<h3>What is the homeowners policy?</h3>

This is the term that is used in insurance to refer to the people that would be insured under a policy of the United States tat covers the insurance for the people that live in a home that has suffered any forms of damage to the home.

<h3>Who is insured in the homeowners policy?</h3>

The people that are insured in this type of policy would be all the persons that are living in the home. The people that are under the age of 21 and those that are relatives would be covered under the home insurance.

Hence we would say that All of the following are considered to be insured in the homeowners policy except Persons under age 21 who are residents of the household.

Read more on homeowners policy here:

brainly.com/question/2993279

#SPJ1

Complete question

All of the following people would be included as an insured under a homeowners policy, EXCEPT:

All of the following are considered an insured under a Homeowners Policy, except:

A

A 30-year-old friend living at the insured premises

B

Any person legally responsible for animals owned by an insured

C

Persons under age 21 who are residents of the household

D

Relatives who are residents of the household

6 0
1 year ago
The type of system that integrates the information of departments and functions of a company into a single computer system is ca
gogolik [260]

Answer:

The appropriate alternative is option B (ERP system).

Explanation:

  • The ERP system has become a corporation software platform that has the core purpose of integrating various processes and employees throughout the financial institution into a standard desktop software application that might boost the growth of the agency.
  • They encourage organizations to implement resource planning by assimilating all of the mechanisms necessary to execute one‘s corporations with such a single platform.

The two other possibilities are not connected to the condition in question. Therefore the choice above is the perfect one.

3 0
3 years ago
Merchandise is ordered on november 10; the merchandise is shipped by the seller and the invoice is prepared, dated, and mailed b
kifflom [539]

Answer:

The answer is <u>"November 13".</u>

Explanation:

November 13 is the date from which credit period begins in the given scenario because credit period refers to the no. of days that a client is permitted to hold up or wait before paying a receipt or an invoice. It does not refer to the number of days that the client takes to pay an invoice.

6 0
3 years ago
What is the most important function of a leader within an organization?
Liula [17]

building a consensus

8 0
3 years ago
Read 2 more answers
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