It has a bigger audience and reaches put to people of all ages
A. is required to draw up a petition listing all assets and liabilities.
A critical function of the government in facilitating the operation of a market economy is setting and enforcing private property rights. Private property rights determine how a resource or good is owned.
Answer:
Debit Estimated Warranty Liability $14,000; credit Merchandise Inventory $14,000.
Explanation:
The journal entry is shown below:
Estimated Warranty Liability A/c Dr $14,000
To Merchandise Inventory $14,000
(Being the customer warranties is settled)
Since we have to settle the customer warranties, so we debited the estimated warranty liability account and credited the merchandise inventory account
Hence, all other options are wrong except last one
Answer:
d) Installment sales contract
Explanation:
A contract is described as an agreement between two or more parties commits to undertakes specific obligations. In a sale contract, the buyer and seller agree to the exchange or foods or services for a consideration called price.
An installment sale contract is an agreement that allows the buyer to make payment for the goods or services over time. Once an agreement has bee reached, the buyer takes possession of products and is free to use them. The buyer makes regular payments for the goods (installments) and will claim ownership upon completing payments. An installment sale contract is a form of credit sale.
