Answer:
The correct answer to the following question is option D) all of the above statements A,B,C are correct .
Explanation:
Personal auto policy (PAP) is a pretty standardize policy design for auto insurance , where such policies provides coverage for medical payments , damage from both under insured and un insured motorists, for the liability and any damage to the vehicle. Under this policy any person who is injured by insured or insured himself or his family members and even any other person who is in possession of covered auto are all insured for receiving medical payments.
Answer:
The correct journal entries should be:
Department A:
Dr Work in progress inventory 93,000
Cr Raw materials inventory 93,000
Department D:
Dr Work in progress inventory 67,000
Cr Raw materials inventory 67,000
Explanation:
Raw materials is an asset account with a debit balance, and since we must decrease it, we have to credit the amounts. Work in progress (WIP) inventory is an asset account so it has a debit balance.
Answer:
a). Paul - Planning
b). Santiago - Organizing
c). Mathew - Planning
d). Chioe - Organizing
e). Kelly Tomasz - Leading
f). Ava - Controlling
g). Michelle - Organizing
Explanation:
Planning is described as the process of setting up the goals for the organization and formulating a course of action to achieve the intended goals.
Organizing is followed by planning which aims to assign the resources in a specific manner to ensure the effective accomplishment of the goal.
Leading is the process of providing guidance or direction to the staff, employees, and workers and keeps them motivated to ensure the smooth functioning of the process and achievement of optimum output.
Controlling is the last step in which the performances are governed and assessed as per the standards to find any variation.
I believe your answer is A: Unearned Revenue.
Because, if a business has received cash, in advance of services performed, and credits a liability account, the adjusting entry needed, after the services are performed, will be debit Unearned Revenue and credit Cash.
Answer:
The correct answer is option b.
Explanation:
In an open economy, domestic firms have to face competition from the foreign producers. If firms face losses in the long run, because of import competition, these firms will leave the industry.
As the number of domestic firms get reduced, the demand curve of the other firms will become flatter. This happens because of the foreign firms that bring in a large variety of goods in the domestic market.
