When determining whether to record an asset as a fixed asset, what two criteria must be met?

1 answer:

5 0

Answer: To classify an asset as fixed it must be met: "Must be long lived and must use the asset in a productive manner."

Explanation: Fixed assets: those assets and durable rights, which have been obtained in order to be exploited by the company. These are property, materials, equipment, tools and utensils that are not going to be marketed, that is, they are not going to become liquid at least during the first year.

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Which of the following describes accrued revenue? (Check all that apply) Multiple select question. The adjustment causes an incr

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Answer:

The adjustment causes an increase in an asset account and an increase in a revenue account.
Accounts receivable is usually increased when accruing revenues.
They refer to revenues that are earned in a period, but have not been received and are unrecorded.
They refer to earnings which have been earned but not yet billed.

Explanation:

Accrued revenue refers to cash earned for selling a good or delivering a service yet the cash has not been received and the transaction was not recorded in the books as revenue. This means that the cash has been earned but it has not been billed to the customer it was earned from.

When the books are being adjusted for this, the accounts receivable - which is an asset account - will increase to show that cash is owed. Revenue will also increase as this was cash earned from delivering a good or service.

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2 years ago

Marginal cost is equal to average total cost when a. average variable cost is falling. b. marginal cost is at its minimum. c. av

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Answer: C

Explanation: average total cost is at its minimum

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1 year ago

One ethical dilemma that multinational firms must face is

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Answer:

Bribery

Explanation:

they must decide whether to pay bribes or find alternative sources of supplies

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2 years ago

Cardboard is an example of which type of economic resource?

blsea [12.9K]

<h3><u>Answer</u>;</h3>

A capital resource

<h3><u>Explanation</u>;</h3>

Economic resources are the factors used in producing goods or providing services. That is, they are the inputs that are used to create things or help an individual to provide services.
<em><u>Economic resources can be divided into human resources, such as labor and management, and nonhuman resources, such as land, capital goods, financial resources, and technology. There are four types, namely; capital, labor, land, and entrepreneurship.</u></em>
<em><u>Capital resources are those resources that are used to manufacture other goods and services in future.</u></em>

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As the product manager for Whirlpools line of washing machines you are in charge of pricing new products. Your product team has

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Answer:

The management should adopt skimming pricing strategy.

Explanation:

For the fact that this is a new technology and very difficult to be copied, the management should adopt skimming pricing strategy. This will allow them to charge high prices and make money in the market before their competitors starts making the same kind of washing machine. This product has benefits for the consumers as well as it consumes less water to clean the clothes so there is high probability of this machine is accepted even if the prices are exorbitantly higher and from this, its going to be demanded by many costomers.

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3 years ago

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