Answer:
virtual organization
Explanation:
A virtual organization is a type of organization that has employees situated in several geographical locations, either on a temporary or permanent basis, who carry out its several production functions, and are usually dependent on electronic means of communication and executing production. A virtual organization really do not have any real formal structure. One of the major advantages of such organization is that it is cost saving.
Farah’s company is an example of a virtual organization.
Answer:
Journal Entry
Explanation:
The Journal Entry is shown below:-
Cash Dr, $36,006
Cash short and over Dr, $4
($36,010 - $36,006)
To Sales $36,010
(Being cash sales, cash short and over is recorded)
Therefore, to record cash sales, cash short and over we debited cash and cash short and over while credited sales.
Answer:
d $630
Explanation:
Value added approach is a strategy for pricing a product which consider all the costs incurred and and all other factors which can effect the price of the product like how customer sees this product and how much he/she is willing to pay for this product etc.
Price of Designer dress = All cost incurred + Value added to the product
Price of Designer dress = ( 400 + 30 ) + 200 = $630
Answer:
Myron gains, while the bank loses.
Explanation:
Fallen in prices is usually cause by deflation i.e a general decrease in the prices of goods and services which enhances the purchasing power of money.
In this case, 5% fall in price will increase the value of the Myron investment with bank and caused bank more money .
Answer:
1. Inventory account will be affected and assertions of accuracy and valuation will be violated.
2. Assets are overstated and assertion classification is violated.
3. Liability is understated and assertions of accuracy is violated.
4. No impact.
Explanation:
Assertions are certain claims of a business which a business must fulfill in order to make its financial statements reliable. A company has to record the expense when it is incurred in order to provide accuracy in valuation. In the given cases the assertions are violated which impact business accounts.
