Answer: $825
Explanation:
Total seminar cost for the team;
= 150 * 5 people
= $750
Two cars need to be driven the 100-mile round trip at 37.5 cents per mile.
= 2 * 100 * 37.5
= 7,500 cents
= $75
Cost of Seminar = 750 + 75 = $825
Answer:
1. Going concern
2. Economic entity
3. Monetary unit
4. Periodicitys
Explanation:
1. Since Jumbo's Restaurant is planning to close, the assumption of continuity (going concern) is no more applicable. This should be disclosed. Instead asset was still recorded at historical price which is misleading.
2. Gorloks Tax Services is an economic entity, and the property and assets of owners are not considered to be for the business. In this case the boat Sam bought was wrongly reported as an asset of the company.
3. Claim Jumpers when reporting the 5 trucks purchased must include a monetary value for them. The assumption of monetary unit states that all items reported on the balance sheet must be expressed in monetary terms.
4. Cobbler's Etc violated the assumption of periodicity which states the financial position of the business must be declared in a particular accounting period. Accounting period can monthly, quarterly, biannually, and yearly. The business should choose and accounting period and ensure financial position is reported for each of them. In this case financial reporting is not consistent with reporting happening after 14 months and before that 18 months.
Answer:
The correct answer is letter "B": Both statements are correct.
Explanation:
A futures contract is a type of forward contract between a buyer and a seller of an asset. They agree to exchange goods and money at a future date but at a price and quantity determined today. Futures contracts are standardized, regulated, and free of counterparty risk. In difference to other forward contracts, futures contracts are traded in secondary markets such as the Chicago Mercantile Exchange and the Intercontinental Exchange.
A forward contract is an agreement to buy and sell an asset at a future date. The price of the asset is fixed at the time the contract is executed. They are similar to a futures contract but forward contracts do not trade in an exchange.
Answer:
a. Mika negotiates a long-term contract for capital equipment for her property management business.
Explanation:
Macroeconomics is a branch of economics that studies the economy as a whole. Macroeconomics studies economic aggregates such as inflation, unemployment, GDP and growth rate.
Microeconomics is a branch of economics that studies the decisions individuals and firms make in response to changes in economic factors. These factors include price, resources etc. it studies how firms and individuals allocate and make decisions about resources
a. Mika negotiates a long-term contract for capital equipment for her property management business. Thus it is a Microeconomic issue
