Answer:
The correct answer is letter "B": define the organization's purpose in society.
Explanation:
A company's mission reflects what is the purpose of the firms in regards to the impact with its surrounding society. It describes what product is going to be offered, what are the association's potential consumers, and in what sector of the society the firm will focus.
Answer:
The Journal entries are as follows:
(i) On December 31,
No entry
(ii) On December 31,
Amortization expense A/c Dr. $16,000
To Patents A/c $16,000
(To record the amortization expenses)
Workings:
Amortization expense:
= (Purchasing cost of patent ÷ Estimated useful life) × Time period
= ($144,000 ÷ 6) × (8/12)
= $24,000 × (8/12)
= $16,000
Can you please put the answer choices?
Answer:
cash balance tobe reported in the balance sheet 16,880
Explanation:
cash account 16,000
NSF check 240
service charge (80)
amend mistake: 720
adjusted: 16,880
the check oustanding and the deposits in-transit are adjustment for the bank balance. not the firm cash accounting
We must look for data which wasn't know until receive the bank statement.
Those are:
the non-sufficient funds
the service charge
and the accounting mistake
Answer:
D. Economics does not use theories.
Explanation:
Economics is the study of : limited resource allocation, having alternative uses - to satisfy unlimited wants.
Economics is both a science (empirical science) & art (social science).
Economics has generally accepted rules & laws, based on experimentation - like Empirical Science. Eg: Law of Demand stating inverse relationship between price & quantity demanded.
Economics has subjective application essence to solve economic issues - like Social Science / art. Eg: Contractionary monetary policy (reducing money supply) to solve inflation (high price level)
