Answer:
Benchmark.
Explanation:
In this scenario, Mr. and Mrs. Smith were interested in purchasing a vacant lot. However, they first wanted the property surveyed. When the surveyor came out to measure the property he began measuring from the iron spike embedded in the middle of the street. In this case, the iron spike would be known as benchmark.
In real estate, benchmark can be defined as an indicator which is used by individuals or group of developers to measure and define properties such as a land. Iron spikes and wood stakes could be used as a benchmark for indicating ownership or measurement of a property.
Answer:
Recognized gain
Explanation:
The character of the gain is Recognized gain. A recognized gain is a gain/profit that is gotten from the sale of one's asset when the asset is sold above the price that was initially paid for the assets. Therefore individual A after selling the Rental buildings, office equipment, Furniture and Land to Individual B, still rents the Building to commercial tenants in other to realize the remaining gain, from the sale of the assets.
Answer:
The amount that Cullumber should report as its December 31 inventory is $543000.
Explanation:
FOB shipping point means the purchaser gains title to the merchandise at the shipping point, so when Pelzer shipped the goods, they belonged to Stallman.
**FOB destination means the seller maintains title until the merchandise reaches its destination, so since the goods have not reached their destination, the goods still belonged to Stallman
inventory on december 31 = inventory on december 31 + goods in transit purchased FOB shipping point + goods in transit sold FOB destintion
= $514,000 + $7,000 + $22,000
= $543000
Therefore, The amount that Cullumber should report as its December 31 inventory is $543000.
The answer is: Internal secondary data
Internal secondary data refers to the type of data that is acquired and stored inside the organization simply by doing its normal operation without having to pay any additional cost for the data.
When fritto lay obtain its data from scanners (that usually occurs for every purchase) , the data would automatically be stored in its database without interference from any third party.
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