Answer:
The correct answer is option D.
Explanation:
As the price of product increases the consumers will demand less because they now have to pay more than earlier.
The supply however is directly related to price level and will increase with the increase in price. The producers will produce more in order to enjoy higher revenue and profit.
This would encourage the other potential firms to enter the market, to earn higher profits.So more suppliers will enter the market.
However, this would lead to increase in supply of output. The excess supply will cause the price to fall eliminating higher profits.
Answer:
An employer is required to accrue a liability for employee's right to receive compensation for future absences when certain conditions are met and as a result it makes it a requirement for a liability to be accrued for vacation benefits that employees have earned but have not yet taken.
In the given case, employer offers each of its 50 employees 20 vacation days per year. As of January, each employee has earned 1.5 days. The Vacation days which are unused at the end of the year may be carried forward to the next year. There is no anticipation of any forfeitures.
Therefore employer must record a liability for employees vacation days earned so far for presenting true and fair view of the financial statements.
Answer:
This statement describes. c) revenue recognition
Explanation:
The revenue recognition principle states that one should only record revenue when it has been earned, not when the related cash is collected.
Answer:
An express warranty
Explanation:
Express warranties can be made in writing, orally or even inferred by the salesperson's conduct. Even if the salesperson made a mistake by offering an express warranty, it is still valid. An express warranty states that a good or service will specifically be a certain way, or perform in a certain way. When a salesperson shows a model of the good, that is considered a express warranty that the good will be the same as the model.
<span>ROI stands for Return On Investment. This is very important when you are making an investment whether it is in terms of training, capital or equipment</span>
