Answer: c
. Depreciation
Explanation:
When accounting for fixed assets, it is important that they are recorded at their book value to reflect the effects of being utilized. This means that depreciation needs to be charged on fixed assets.
Even though the equipment in question was only purchased 2.5 months prior to the financial reports being made, depreciation still needs to be accounted for such that the equipment is represented at its book value in the financial statement.
Answer:
option (c) $875 per year
Explanation:
Given;
Average cost of collision claims for careful drivers = $500 per year
Average cost of collision claims for for poor drivers = $3000 per year
Poor drivers known by the company = 15%
thus,
Careful drivers = (100% - 15%) = 85%
Therefore,
Insurance company's breakeven price for the collision insurance
= (Poor drivers known × Average cost of collision for poor drivers ) +( Careful drivers × Average cost of collision claims for careful drivers)
= 0.15 × $3000 + 0.85 × $500
= $450 + $425
= $875 per year
Hence, the correct answer is option (c) $875 per year
Answer:
True
Explanation:
The statement is true.
Suppose a consumer purchases a bundle of goods, say 40 units with his given money income of $1000.
Now, if there is a fall in the price level of the goods then this will increase the purchasing power of the consumer and hence he will be able to buy more quantity of goods, say 60 units with the same level of money income i.e $1,000.
This illustrates that as the price level falls, the purchasing power of the consumer increases or we can say that holders of money become richer.
Answer and Explanation:
The matching is as follows:
1. Cash receipts journal - since cash is received
2. General journal - since the items is returned
3. Purchase journal - since purchase is done
4. Purchase journal - since purchase is done
5. Cash disbursement journal - since cash is paid
6. Cash disbursement journal - since cash is paid
7. Purchase journal - since purchase is done
8. General journal - since expenses are recorded
9. General journal - since the items is returned
10. Cash receipts journal - since cash is received
Success is subjective. For some, success is their income, for others it is the size of their house, for some it is what car they own, for some it is what kind of family life they have, for some it could be how happy they feel on a daily basis (basically if they are happy or not), etc. Success for a person may depend on their dreams and goals.
For a Business, success could be either maximizing profits, or maximizing sales, or maximizing customer satisfaction, or maximizing shareholder/owner satisfaction, or maximizing employee satisfaction, etc. Success for a Business depends on its corporate objectives.
