All categories

2 years ago

Select the incorrect statement regarding costs and expenses.

Business

1 answer:

egoroff_w [7]2 years ago

7 0

Answer: Option C

Explanation: In simple words, expenses refers to outflow of money from the pockets or account of any individual or an entity with the objective of acquiring or producing something.

Manufacturing cost refers to the amount of resources that were out flowed the organisation while producing a good or service. Since the resources are getting out flowed, these costs are always recorded as expense over the operational life of the entity.

Labor cost, electricity bill of machines and purchase cost of raw materials etc are some of many examples of manufacturing cost.

You might be interested in

A _______ is a cluster of complementary products and services that are closey related in the minds of consumers but are spread a

serg [7]

A meta market is a cluster of complementary products and services that are closely related in the minds of consumers but are spread across a diverse set of industries.

<u>Explanation:</u>

Meta market can be defined as two or more markets that has distinct features are connected in some or the other way to a service or a product. It can be stated as an attempt to increase the sides of marketing by including all the non-profit organizations.

The term meta marketing was first coined by E.J.Kelly while discussing science of marketing and ethics issues.

Example: The meta market for domestic cleaning products includes the house cleaning service companies and the house owners.

3 0

2 years ago

A project called the _____________ is digitizing some of the 7,000 human embryos lost in miscarriages, which have been kept by t

Neko [114]

The appropriate response is Virtual Human Embryo. The general objective of the Virtual Human Embryo (VHE) venture is to expand comprehension of human embryology and to support the investigation of human embryonic improvement by furnishing understudies and analysts with dependable assets for human developing life morphology.

7 0

2 years ago

The ____________ of the note is the one that signed the note and promised to pay at maturity. the (maker/payee) of the note is t

Aleksandr [31]

The (maker/signer) of the note is the one that signed the note and promised to pay at maturity. The (maker/payee) of the note is the person to whom the note is payable.

A note that the maker has neglected to settle upon maturity is referred to as a dishonored note. The note is removed from notes receivable since it has matured, and the payee or holder reports the amount owed in accounts receivable. At the note's maturity date, the maker is obligated to pay the principal and interest.

Bad debt costs. Customers with (Bad/Invalid)(Collectible/Debts) accounts fail to honor their payment obligations. It is regarded as a cost associated with selling on credit. An amount owed by another party is known as a receivable.

To learn more about maturity from the given link.

brainly.com/question/28039417

#SPJ4

7 0

11 months ago

Anthony Finley wishes to become a millionaire. His money market fund has a balance of $287,270 and has a guaranteed interest rat

mrs_skeptik [129]

Answer:

15 years

Explanation:

The target accumulated future amount is the future value of the initial investment(present value), hence, using the future value formula provided below we can determine the investment time horizon in years required to accumulate the target amount:

FV=PV*(1+r)^n

FV=$1,200,000

PV=$287,270

r=10%

n=investment period in years=unknown

$1,200,000=$287,270*(1+10%)^n

$1,200,000/$287,270=(1+10%)^n

$1,200,000/$287,270=(1.10)^n

take log of both sides

ln($1,200,000/$287,270)=n ln(1.10)

n=ln($1,200,000/$287,270)/ln(1.10)

n=15.00years

4 0

2 years ago

Ajax, Inc., issued callable bonds with a par value of $1,000,000 that require the payment of a call premium of $10,000. The bond

ivann1987 [24]

Answer:

Explanation:

The journal entry is shown below:

On September 30

Bonds payable A/c Dr $1,000,000

Loss on bond retirement A/c Dr $20,000

To Discount on Bond A/c $10,000

To Cash A/c $1,010,000

(Being the callable bond is recorded)

The computation is shown below:

For cash

= Par value of bond + Premium

= $1,000,000 + $10,000

= $1,010,000

For Loss, it would be

= $1,010,000 - $990,000

= $20,000

And, the remaining amount would be transferred to discount on bond

7 0

3 years ago