The answer to your question is,
B) Demand has increased.
When demand increases, so does price and same with quantity.
-Mabel <3
Answer: The correct answer is <u>"d.All of these statements are true."</u>
Explanation: In order to have a certificate in public accounting, a national examination must be taken and among the multiple functions the accountants who have a certificate in public accounting are those who can be external auditors and are responsible for the reports they issue about the reliability of the financial statements of a company.
Answer:
A. Private corporation.
Explanation:
Private corporation: It is type of business corporation which is privately owned by individual or company or group of small invenstor and the motive these company is to earn profit. The stocks of these companies are not freely traded in the open market, however, ownership of these company remain with few individuals, who might be closelt related or family member. The operation of these company will remain same as a regular corporation.
In the given case, Hardware store was privetly owned by Russell´s family and they don´t hire manager from outside, neither they sell it to any outsider. Therefore, this business is an private corporations.
Answer:
According to "AS 7 - Construction Contracts",Gross amounts receivable / payable from / by customers should be recognized as contract asset / liability in the balance sheet.
For the first job, construction work in progress is greater than the bills raised. Hence there exists contract asset.
Contract asset = Cost incurred - Billing done
= $20,000 - $14,000
= $6,000
For the second job, construction in progress is less than the bills raised. Hence there exists contract liability.
Contract liability = Bills raised - Cost incurred
= $5,000 - $3,000
= $2,000
Hence, Contract asset = $6000
, Contract Liability = $2000