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forsale [732]
3 years ago
7

Which of the following best describes a liability? A. Liabilities are future economic benefits to which a company is entitled. B

. Liabilities are a form of share capital. C. Liabilities are accounts receivable of the company. D. Liabilities are economic obligations to creditors to be paid at some future date by the company.
Business
1 answer:
Arlecino [84]3 years ago
8 0

Answer:

The answer is D

Explanation:

Liabilities are present obligations(economic obligations) arising from past actions and the settlement of which results in an outward economic benefits. Liabilities are forms of debts that must be paid back to lenders or creditors.

Liabilities can be current (within 12 months e.g accounts payable) and non-current(more than 12 months e.g bonds).

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Which of the following home purchasing considerations will probably affect older homebuyers the least ?
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B



4 0
3 years ago
Last year's asset turnover ratio was 2.0. Sales have increased by 25% and total assets have increased by 10% since that time. Wh
Dmitriy789 [7]

Answer: d. 2.27

Explanation:

Asset Turnover = Total sales / Average Assets

Last years turnover ratio was 2.0 so assume Sales were $20 and Assets were $10 which would give the turnover of 2.0

The new turnover would be;

= (20 * 1.25)/(10 * 1.1)

= 25/11

= 2.27

6 0
3 years ago
The financial staff of Cairn Communications has identified the following information for the first year of the roll-out of its n
salantis [7]

Answer: $12,500,000

Explanation:

Sales = $24,000,000

Less: Operating cost = $9,000,000

Less,l: Depreciation = $5,000,000

Earning before interest and tax = $10,000,000

Less: Tax at 25% EBIT = $2,500,000

Net income before interest = $7,500,000

Add: Depreciation = $5,000,000

Operating cashflow = $12,500,000

6 0
3 years ago
Sweeties, Inc., manufactures a sugar product by a continuous process, involving three production departments-Refining, Sifting,
babymother [125]

Answer and Explanation:

Journal Entries to record the flow of costs into the refining department

1.

Dr Work-in process - Refining Department $369,000

Cr Materials $369,000

2.

Dr Work-in process - Refining Department $146,000

Cr Wages Payable $146,000

3.

Dr Work-in process - Refining Department $97,600

Cr Factories Overhead - Refining Department $97,600

b. Entry to record the transfer of production costs to the second department

Dr Work-in process - Sifting Department $614,400

Cr Work-in process - Refining Department $614,400

Work-in process - Sifting Department [$30,200 + ($369,000 + $146,000 + $97,600) - $28,400]

=$30,200+($612,600-$28,400)

=$30,200+$584,200

=$614,400

4 0
3 years ago
At the start of the current year, SBC Corp. purchased 25% of Sky Tech Inc. for $47 million. At the time of purchase, the carryin
cricket20 [7]

Answer:

$3

Explanation:

SBC Corp

($million)

FV in excess of book value $12

×

Share of ownership 25%

Additional depreciation in total $3

Therefore the total amount of additional depreciation to be recognized by SBC over the remaining life of the assets is: $3

5 0
3 years ago
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