Answer:
Probably not, because the terms are not definite.
Explanation:
A contract is considered to be valid when there is a written or expressed agreement for one party to deliver goods or services to another.
The terms are clearly stated. For example the price, time of sale, acceptance of price, and so on.
A valid contract has the following elements: offer, acceptance, agreement, and consideration.
In the given scenario where Kelly tells Matthew that she will sell him one of her motorcycles at some time in the future and Matthew eagerly accepts. There is an agreement but there is no specific offer and consideration of price and also the time of transaction.
So the contract is probably not valid because terms are not clearly defined.
Answer:
it is an adjustment to net income.
Since the prepaid expenses increased during the year, the amount by which it increased should be deducted from operating cash flows
Explanation:
other adjustments to net income:
depreciation expense
changes in accounts receivable
changes in inventory level
changes in accounts payable
changes in other current liabilities, e.g. taxes payable
Answer:
The answer is: It monitors progress so that corrective action can take place.
Explanation:
A positive feedback loop takes place when the company pays attention and listens to its employees' complaints or problems. Then it uses that feedback to improve workplace satisfaction and/or structural problems within the organization.
The goal is to increase workplace satisfaction, and as a result increase the employees' efficiency, increasing the organization's profits.
The answer is $100.
Amount she steals= $100
Amount she bought goods= $70
Amount the owner returns as change = $30
Amount owner loses=?
Amount she steals +amount of goods - amount she gives to owner + amount owner returns as change = $100 + $70 - $100 + $30 = $200 - $100 = $100
Answer: Actually refinance the obligation.
Management indicated that they are going to refinance the obligation.
Have a contractual right to defer settlement of the liability for at least one year after the balance sheet date.
The liability is contractually due more than one year after the balance sheet date.
Explanation:
A current liability is an obligation payable within a year. A short term liability can be excluded from current abilities if management indicates that they are going to refinance it and show that they are capable of doing so.
Also if the company has a contractual right to defer settlement of the liability for at least one year after the balance sheet date, the short term obligation can be excluded. The deferment means that it will be recognized in another period.
When the liability is contractually due more than one year after the balance sheet date, it stops being a current liability and becomes a non-current liability payable after a year.
