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Mice21 [21]
3 years ago
7

On September 1, Year 1, Great Lakes Equipment receives $24,000 from a customer for work to be performed evenly over the next 2 y

ears. What is the amount of revenue that Great Lakes Equipment should recognize on the income statement for the year ending December Year 1?
Business
1 answer:
posledela3 years ago
7 0

Answer:

Great Lakes should recognize on the income statement for the year ending December Year 1 $4,000

Explanation:

The income statement only recognize the amount of money that was generated during the period of the income statement.

If the company invoiced by month, it only recognize the total amount for the last four months of the year.  

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Once an online catalog is in place, there are high costs in maintaining and accessing it.
Ket [755]

Answer:

False, once an online catalog is in place, there is little cost in maintaining it

5 0
2 years ago
Which of the following cash budget equations is incorrect? Multiple Choice Period one ending cash balance = period two beginning
iris [78.8K]

Answer:

Cash payments + cash receipts = cash requirements

Explanation:

The cash budget is a budget which deals in a inflow and outflow of cash. The inflow of cash refers to the incoming of cash through receipts while the outflow of cash refers to the outgoing of cash through payments

It interprets the liquidity of the business organization whether organization has enough cash or it can be borrowed for running its organization

Therefore, the Cash payments + cash receipts = cash requirements is wrong as other equations that are given are right

7 0
3 years ago
What is a power grid?
Sindrei [870]

Answer:

What is a power grid?

C) Transmission lines and transformers that take and send electricity from generating facilities to end users

Explanation:

A power grid is a system of interconnected transmission lines and transformers that takes electricity from the producers to the consumers. The power grid is very important in the supply of electricity to consumers. Before power is to be transmitted to the consumers, it has to be generated. Traditionally, the conventional way of generating power was from central power stations that utilized sources like; fossil fuels, coal and natural gas. In the recent past, however, more advancements have been made towards more clean energy sources like; wind, geothermal and hydroelectricity. Clean energy sources have several benefits over the traditional sources of energy, like; they don't cause harm to the environment and also they are renewable since they can be used over and over without depletion.

Once the energy has been harnessed and converted to electricity, it needs to be transmitted. The network for transmission to the consumers is what makes up the power grid. Transmission is usually done at very high voltage to minimize losses. However, before providing it the consumers, the electricity needs to be converted to a low voltage by the use of transformers for domestic and commercial consumption.

6 0
2 years ago
Read 2 more answers
Control based on the use of pricing mechanisms and economic information is referred to as:
soldier1979 [14.2K]
It is referred as market control<span />
3 0
2 years ago
Ray is a shareholder of Small Biz Company (SBC). When the directors fail to undertake an action to redress a wrong suffered by S
julsineya [31]

Ray is a shareholder of a small company. When the director falls to undertake an action it falls under derivative suit.

Explanation:

  • Derivative suit is referred to as a law suit that is brought by the shareholder in behalf of the company against the third party.
  • If in a company the employees, the directors as well as the officers are not ready to file a complain against the third party then the shareholder has the right to file a complaint against the third party.
  • Derivative suit is normally filed by the shareholder when there is a mismanagement in the company. To stop the illegal work this action is being taken.  
4 0
2 years ago
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