Answer:
The correct answers in order are:
Executory
Fulfilled their obligations
Not illegal
Explanation:
The Statute of Frauds prevents the enforcement of an executory contract, which is a contract in which the parties have not fulfilled their obligations. These contracts are not illegal.
Indicate whether it would appear on the statement of cash flows as operating activities.
There are three types of cash flow: operating cash flow, investment cash flow, and financial cash flow. Operating cash flow is generated from the company's normal operating activities. This includes cash proceeds from sales, cash outlays on goods sold (COGS), and other operating expenses such as overheads and salaries.
Investing cash flows include amounts spent to purchase securities intended to be held as investments, such as securities. B. Stocks or bonds of other companies or the Treasury. Inflows are generated by interest and dividends paid on these holdings.
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Answer:
True
Explanation:
If lean production totally eliminates inventories, the net operating income computed under the absorption and variable costing methods should be equal. If lean production only reduces inventories, then the difference in net operating income under the two methods will be reduced.
Lean production is a system of production that tries to eliminate bottlenecks in the flow of goods by employing tools like just in time (JIT), Kaizen, and the 5S of Sort, Set in Order, Shine, Standardize, and Sustain, among others. It attempts to cut costs, reduce unnecessary inventory, shorten production cycle, speed response time, grant employees autonomy, and reduce waste of resources while ensuring high quality and customer satisfaction.
Lean production employs some principles in order to achieve efficiency. They are: 1) definition of value, 2) mapping the value stream, 3) creating efficient flow, 4) using a pull system, and 5) pursuing perfection in all aspect of production activities. The Lean approach can be applied to services and other aspect of business, like system, structure, and organization.
The purpose of verification, as a normal motion, is to become aware of the faults/defects introduced at the time of any transformation of inputs into outputs.
Verification is a pleasant manage technique that determines if a machine meets its gadget-stage necessities. Inspection and demonstration is the principle testing technique used in Verification.
The Verification procedure offers the evidence that the gadget or machine detail plays its meant capabilities and meets all performance requirements listed inside the machine overall performance specification and functional and allotted baselines.
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Answer:
The Journal entry is as follows:
Cash A/c Dr. $288,000
To Unearned basketball ticket revenue A/c $288,000
(To record the sale of the season tickets)
Workings:
Given that,
Total number of tickets sold = 4,800
Selling price of ticket = $60 each
Cash = season basketball tickets sold × Selling price of each ticket
= 4,800 tickets × $60 per ticket
= $288,000
