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3 years ago

Which one of the following carrier types generally transports goods for the company that owns the carrier?

1 answer:

6 0

Answer: A private carrier is a carrier type that generally transports goods for the company that owns the carrier.

Explanation: Since the company owns the carrier, they are a private carrier for that specific company. They only transport the goods for their company versus being a transportation carrier company. There are other carrier companies that transport for anyone and anything and are not owned by the companies they provide services for.

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If management identifies even one material weakness in internal control, then management will conclude that the organization’s i

solong [7]

Answer:

Statement is true

Explanation:

Internal control over financial reporting was designed to give assurance related to financial statements preparation and authenticity of financial reporting.

Material weakness refers to inefficiency in internal control which could lead to misstatement in financial statement thereby making financial reporting unreliable. As such, even one material weakness would prove ineffective internal control over financial reporting.

8 0

4 years ago

Consider This) Susie purchased a nonrefundable ticket to a soccer match for $20. It will cost her $10 worth of gas and wear and

kumpel [21]

Answer:

The $20 ticket to the match.

Explanation:

The sunk cost would be the $20 ticket to the match.

3 0

4 years ago

Management can make any form of distribution to the firm’s shareholders using the company’s free cash flow (FCF). The underlying

vovikov84 [41]

Answer:

A good use of free cash flow is to Invest in nonoperating assets

Explanation:

Free cash flow (FCF) is a measure of how much cash a business generates after accounting for capital expenditures such as buildings or equipment. This cash can be used for expansion, dividends, reducing debt, or other purposes.

If the underlying objective is to maximize shareholder wealth by increasing the firm’s value. Any use of FCF that negatively affects the firm’s value is not considered a good use of the FCF.

A good use of FCF would be to invest in nonoperating assets such as marketable securities, investments in other companies, etc.)

3 0

3 years ago

A store asked 250 of its customers how much they spend on groceries each week. the responses were also classified according to t

denis-greek [22]

Yes, I think there is a relationship between amount spent on groceries and gender because boys tend to eat more than the girls.

5 0

3 years ago

Facial cosmetics provides plastic surgery primarily to hide the appearance of the appearance of unwanted scars and other blemish

Gala2k [10]

Answer:

1.Alllowance for uncollectible accounts 2,400

2.Dr Bad Debt Expense 2700

Cr Allowance for Doubtful Account 2700

3.Dr Allowance for Doubtful account 400

Cr Accounts receivable 400

4) Dr Cash 100

Cr Allowance for Doubtful account 100

Explanation:

Calculation of the allowance for uncollectible accounts

Using this formula

Alllowance for uncollectible accounts=(Not Yet Due)+(0-30 days past due)+(30-60 days past due)+(More than 60 days pst due)

Let plug in the formula

Alllowance for uncollectible accounts=

(30,000 *2% )+ (10,000* 5%) + (7,000* 10 %)+(3,000* 20% )

Alllowance for uncollectible accounts =600+500+700+600

Alllowance for uncollectible accounts = 2,400

2)Record of the he December 31, 2018 adjusting entry

300 debit balance+ 2,400

=2,700 Adjustment

Dr Bad Debt Expense 2,700

Cr Allowance for Doubtful Account 2 700

3) Journal entry to record the write off.

Dr Allowance for Doubtful account 400

Cr Accounts receivable 400

4) Journal entry to Record the cash collection

Dr Cash 100

Cr Allowance for Doubtful account 100

7 0

3 years ago