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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.

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Who is ur fav actor , movie star

FinnZ [79.3K]

Can i say actress?

jennifer aniston

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3 years ago

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Post Delivery Service acquired at book value 80 percent of the voting shares of Script Real Estate Company. On that date, the fa

Rudik [331]

Answer:

a) Consolidated Net Income

When preparing consolidated Net Income, We add each and every line item on a Parent's financial statements with the same line item on the Subsidiary's financial statement and adjust line items like revenue ( intra-group sale) , cost of goods sold ( unrealized profits) , other incomes ( dividends received) and expenses (depreciation on profits) .

b) JOURNAL ENTRIES

Debit Common stock $ 280,000 Debit Retained Earnings $ 95,000 Credit investment $ 300,000 Credit Non_Controlling interest( N . C . I ) $ 75,000

c) Debit Service Revenue $ 21,000,Credit Service fee $ 21,000

Debit Gain or profits on sale of land $ 25,000 Credit Land $ 25,000

Debit Dividends received $ 8000, N . C . I $2000 Credit Dividends paid $ 10,000

Explanation:

The question is incomplete, it lacks the financial statements to be consolidated.

Steps to Consolidated Statements

1 . Eliminate common transactions ( transactions like intra-group sale , dividends , etc . .)

2 . Consolidate the financial statements

b) we credit investment and if investment is greater than the total of common stock and retained earnings at 80% then we create equity represented by goodwill ( asset ) , if investment is less the we set off that amount in the retained earnings of the investing company. (Assuming investment = 80 % of total amount at acquisition .

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3 years ago

16. Which of the following cuts is ideal for smoking?

Ludmilka [50]

[ Answer ]

$\boxed{Brisket}$

[ Explanation ]

Brisket - Cut from breast or lower chest. Brisket comes from a cow or veal

Brisket is ideal for smoking because of its high fat content. When smoking meat, if the meat does not have lots of fat and is thing, the smoking process can dry out the meat. With brisket, the meat is very fat, causing the meat not to dry out and getting a tender juicy flavor.

When lighting a campfire or barbecue, you may notice lots of smoke. The smoke may affect your breathing, make you thirsty, or dry you out. This is the same affect of the meats. The smoke provides lots more flavor for the meat, and dries it out, if there is not enough fat on the meat.

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3 years ago

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34. Which of the following statements is correct? a. If oligopolists successfully collude, then their combined output will be eq

grandymaker [24]

Answer:

The correct answer is option d.

Explanation:

If oligopolists are able to collude successfully, they will be able to fix price and output similar to a monopoly.

In order to maximize profits, the oligopoly firms keep their prices higher than a perfectly competitive firm but lower than monopoly. The output level is kept higher than a monopoly firm but lower than a perfectly competitive firm.

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2 years ago

How data of new hired empployees are saved?

zaharov [31]

Answer:

<u><em>The HRM saves the data</em></u>

Explanation:

The Human resource management (HRM) department handles recruitment for most companies that have such a department. Therefore whenever a company recruits employees the employee data such as;

Address,
Family details,
Medical records,
Age etc,

is sent to the HRM and is usually kept within the organization for internal usuage only in a database or company's internal website.

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3 years ago