Answer:
Proactive Stance
Explanation:
In business, Proactive Stance means that you take a precautions to handle the events that might occur in the future.
Maintaining loyal customers base and good core values tend to require higher cost for the company. since it has to put more investment in high level customers service or high quality materials.
But, in the long run, this will be beneficial for the company. Loyal customers tend to be the least likely to switch to another product. Not only that, if in the future company made a mistake that damage its reputation, loyal customers tend to be more forgiving. This is why maintaining loyal customers base tend to be considered as a proactive stance.
Answer:
The insurance expense to be recorded for period ended 31 January 2013 is $900
The insurance expense to be recorded for period ended 31 January 2014 is $1200
Explanation:
From the date of insurance premium payment till 31 January 2013 gives a period of nine months, which means that nine months of insurance premium should be recognized as expense in that period.
January 31 2013 insurance expense=$2400*9/12
=$900
From February 1 2013 till January 31 2014, gives a complete year, which means 12-month insurance premium should be recognized in that period,hence the below calculation:
January 31 2014 insurance expense=$2400*12/24
=$1200
Answer:
Correct ending balance 7855
Explanation:
Cash 7844
Books
Cash receipts pending on bank -3238
Checks written 1325
Banks
Bank service fee -25
Interest earned 36
Bank conciliation 5942
Bank account 5942
7844
Correct ending balance 7855
Answer:
the bad debt expense is $900
Explanation:
The computation of the bad debt expense is shown below:
bad debt expense is
= Written off amount + estimated uncollectible amount at the year end
= $650 + $250
= $900
We simply added the above two items so that the amount of the bad debts for the first year could come
Hence, the bad debt expense is $900
Answer:
Following are the solution to the given point.
Explanation:
For question 1:
Economic gains are distinct from bookkeeping gains. Accounting value also takes into account the cost of potential.
that's why "option a" is correct.
For question 2:
The "option d" is correct.
For question 3:
The "option c" is correct.
