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3 years ago

Liabilities are items you own that have value. True False

Business

2 answers:

Tom [10]3 years ago

7 0

The correct answer to this question is B) False.

shutvik [7]3 years ago

6 0

That statement is false.
Liabilities are items that you owed to another people because of a certain transaction. (such as when you buy a certain product on credit)
We refers valuable items that we owned as an asset, which we could use to fund the operation that generate more wealth for us.

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A company's flexible budget for 10,000 units of production reflects sales of $200,000; variable costs of $40,000; and fixed cost

Archy [21]

Answer:

Expected level of operating income = $133,000

Explanation:

given data

flexible budget = 10,000 units

sales = $200,000

variable costs = $40,000

fixed costs = $75,000

solution

we get here Contribution margin for 10000 units that is express as

Contribution margin = sales - Variable cost ..............1

put here value and we get

Contribution margin = $200,000 - $40,000

Contribution margin = $160,000

and

now we get here Contribution margin expected for 13000 units that is

Contribution margin expected = $160,000 ÷ 10000 × 13000

Contribution margin expected = $208,000

so here Expected level of operating income

Expected level of operating income = Contribution Margin - Fixed costs

Expected level of operating income = $208,000 - $75,000

Expected level of operating income = $133,000

4 0

4 years ago

A company purchased $2,300 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $450 worth of merchandise. On

Aleksandr [31]

Answer:

Dr Accounts payable 1850

Cr Merchandise inventory $37

Cr Cash $1813

Explanation:

Preparation of the journal entry to record the payment on July 12 Using the gross method,

JOURNAL ENTRY

Jul-12

Dr Accounts payable ($2300-450) 1850

Cr Merchandise inventory ($1850*2%) $37

Cr Cash $1813

($1850-$37)

(Being entry recorded for payment to supplier)

7 0

3 years ago

Two firms, Gene's Gloves and Wally's Wallets, have factories near a lake. Both firms use a chemical for tanning leather. Some of

m_a_m_a [10]

Answer:

Gene's Gloves was given the right to dump 5,000 gallons of harmful chemicals. It will need to spend $10,000 ($1 per gallon x 10,000 gallons) to substitute harmful chemicals for harmless chemicals in order to keep working.

Wally's Wallet was also given the right to dump 5,000 gallons of harmful chemicals. It will need $60,000 ($3 per gallon x 20,000 gallons) to treat those chemicals and turn them harmless in order to keep working.

If Gene can sell its right to dump 5,000 gallons to Wally, for a price higher than $5,000 but lower than $15,000, both companies would win:

Gene would spend $15,000 in harmless chemicals but it would have between $5,001 and $14,999 in revenue from the selling of "pollution rights".

Wally will spend $45,000 in treating harmful chemicals but it will have to pay Gene between $5,001 and $14,999 for buying their "pollution rights".

5 0

3 years ago

What usually determines whether specialists in light steel or carpenters do the framing?

olga nikolaevna [1]

I would say people who do light steel usually redu things and carpenters can build at structure from scratch. And light steel specialists usually just work with light steel as those who are carpenter specialists usually work with many products.

I hope this helped.

7 0

3 years ago

Which of the following is the raw material for forging? Select one: a. Sand b. Solid metal c. Plastic d. Molten metal

cupoosta [38]

Forging is the process of applying thermal and mechanical energy to steel billets or ingots to result into a changed shape of the material while in a solid state. The raw material is solid metal in this case.

8 0

3 years ago