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3 years ago

"obligation to transer cash or other resources as a result of a past transaction" is called ____________

Business

1 answer:

spin [16.1K]3 years ago

7 0

Answer:

The correct answer is: Liability.

Explanation:

A liability is an obligation that arises during the course of business. It represents a third party's claim in the company's assets usually from lenders or other creditors. Liability can arise in many different ways. Liabilities can be borrowing or a promise to pay later or any other type of obligation because of past transactions.

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Exercise 1-11 Incomplete manufacturing cost data for Horizon Company for 2020 are presented as follows for four different situat

timofeeve [1]

Answer:

DM DL MO Total Cost Beginning Ending COGM

118,600 144,900 92,800 (A)356,300 35,100 26,500(B) 364,900

118,200(C) 201,500 136,000 455,700 60,900(D) 42,900 473,700

84,900 103,300 81,700(E) 269,900 63,200 81,900 251,200(F)

75,000 142,600(G) 76,000 293,600 49,600 68,400(H) 274,800

Explanation:

(A) Total cost will be the sum of the three cost component:

DM + DL + MO

(B) the ending WIP will be the beginning + cost added less the complete and transferred

(D) similar to B the beginning will be Ending WIP + COGS - cost added

(E) total cost less DM and DL will be the amount of overhead applied

(F) teh cost of goods manufactured is the beginning WIP plus cost added less the ending WIP

(G) direct labor used will be total cost added less DL and MO

(H) same as B

6 0

3 years ago

What other factors in addition to occupancy-days are likely to affect the variation in electrical costs from month to month? (Yo

rjkz [21]

Answer:

Explanation:

may be

4 0

3 years ago

During 2018, Jill, age 39, participated in a Section 401(k) plan which provides for maximum employee contributions of 12%. Jill'

maks197457 [2]

Answer:

The correct answer is $10,800.

Explanation:

According to the scenario, the given data are as follows:

Jill's salary = $90,000

Jill's maximum contribution = 12%

So, we can calculate Jill's maximum tax-deferred contribution by using following formula:

Maximum tax-deferred contribution = Jill's salary × Maximum contribution percentage.

= $90,000 × 12%

= $90,000 × 0.12

= $10,800

Hence, Jill's maximum tax-deferred contribution to the plan for the year is $10,800.

5 0

3 years ago

The authoritative body designated to promulgate standards concerning an accountantâ€™s association with unaudited financial stat

antoniya [11.8K]

The authoritative body designated to promulgate standards concerning an accountant's association with unaudited financial statements of an entity that is not required to file financial statements with an agency regulating the issuance of the entity's securities is the: <u>accounting and review services committee</u>.

<u>Explanation</u>:

The Accounting and Review Services Committee is a committee that engages in reviewing or compiling the unaudited financial statement.

An unaudited financial statement is a document that is not submitted by an individual for verification and review process. The financial statement is said to be unaudited until they are reviewed and approved by a certified external auditor.

The accounting and review services committee are responsible for promulgating standards regarding accountant association. The auditor helps in reviewing the financial statement of the individual.

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3 years ago

Which of the following schools has a competitive admissions policy

max2010maxim [7]

it would be D. i hope you have a great day and that you gat good grades on this. :)

5 0

3 years ago

Read 2 more answers