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Alborosie
3 years ago
11

ichael McNamee is the proprietor of a property management​ company, Apartment​ Exchange, near the campus of Penscola State Colle

ge. The business has cash of​ $8,000 and furniture that cost​ $9,000 and has a market value of​ $13,000. The business debts include accounts payable of​ $6,000. Michael's personal home is valued at​ $400,000, and his personal bank account has a balance of​ $1,200. Identify the principle or assumption that best matches the​ situation: a. ​Michael's personal assets are not recorded on the Apartment​ Exchange's balance sheet. b. The Apartment Exchange records furniture at its cost of​ $9,000, not its market value of​ $13,000. c. The Apartment Exchange reports its financial statements in U.S. dollars.
Business
1 answer:
sertanlavr [38]3 years ago
5 0

Answer:

Option "A" is the correct answer to the following statement.

Explanation:

Business Entity Assumption state that businessman and business are a different entity.

Under the Business Entity Assumption, Personal assets and Company assets are always different, Personal assets will never show in the Company's balance sheet.

In the case of Michel McNamee his bank account and personal home in not recorded in the company's book.

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Answer:

competitive advantage                    

Explanation:

In industry, the quality that helps a company to surpass its rivals, is called its competitive advantage. A competitive advantage might include availability of resources, like higher-grade ores as well as small-cost energy sources, highly qualified workers, geographical position, high entry hurdles and access to better technologies.

When it comes to explaining competitive edge, the value proposition is essential. When the value proposition is successful, that is, when the value concept provides higher and more consistent value to consumers, it can yield a significant advantage either in the good or service. The value proposition will rising the perceptions and preferences of the customers.

4 0
3 years ago
Cafeteria Department Cutting Department Assembly Department Janitorial Department cost allocation $155,000 $31,000 $124,000 Cafe
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Answer: Assembly Department

Explanation:

Missing part of question is attached below.

Cutting Department

Under the direct method, the Cutting Department is allocated $62,000 of the Janitorial cost and $126,750 of the Cafeteria cost for a total of:

= 62,000 + 126,750

= $188,750

Assembly department

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= 248,000 + 42,450

= $290,450

<em>Assembly Department is therefore the department that is allocated the most support department costs under the direct method. </em>

7 0
3 years ago
Section 2-201 of the UCC provides that contracts for the sale of goods for $500 or more are unenforceable unless: a. A written s
Shkiper50 [21]

Answer:

d. All of these are correct.

Explanation:

The UCC are a set of guidelines that deals with contracts involving sale of goods. It settles disputes that occur during such transactions.

Section 2-201 of the UCC deals with statute of fraud.

Contract for a sale of goods is not enforceable unlesss there is some written contract of sale by the party against who enforcement is sought or his official agent.

This document also a written signature of the party against whom enforcement is sought, and a written indication of the quantity sold.

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3 years ago
Read 2 more answers
Consider a bond (with par value = $1,000) paying a coupon rate of 7% per year semiannually when the market interest rate is only
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Answer:

Explanation:

Using a financial calculator; input the following;

Duration to maturity ; N = 3*2 = 6

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then compute the price; i.e the present value; CPT PV = 1027.09

The price after 6-months would be as follows;

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Par value of the bond ; FV = 1000

Semiannual interest rate; I = 3%

Semiannual coupon payment;PMT = (7%/2)*1000 = 35

then compute the price; i.e the present value; CPT PV = 1022.90

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3 years ago
Which factor accounts for 33 to 50 percent of miscarriages?​?
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