Answer:
The Matching principle.
Explanation:
Matching principle is the accounting principle that requires that the expenses incurred during a period should be recorded in the same period in which the related revenues are earned. This principle recognizes that businesses must incur expenses to earn revenues.
The principle is at the core of the accrual basis of accounting and adjusting entries.
Answer:
The correct answer is letter "B": pensions have traditionally been set as a fixed nominal dollar amount per year at retirement.
Explanation:
Pensions are retirement plans employees enroll during their working years. There are different types of pensions being the most common the <em>401(k), Individual Retirement Account (IRA), </em>and <em>Roth IRA</em> each one with particular features. What all of them have in common is that they allow retired individuals to receive a fixed stream of income per year after they officially stop working. Therefore, that is the reason why economists call pensions as "<em>defined benefits</em>" plans.
Answer:
The answer is: Don's weekly salary is $460 and his sales' commission is 5%
Explanation:
We have to solve the following two equations:
Don's salary week 1 = b + $3,000c =$610
Don's salary week 2 = b + $4,000c =$660
Where:
- b = Don's base weekly salary
- c = sales' commission
Step 1:
b + $4,000c =$660
<u>-(b + $3,000c =$610)</u>
$1,000c = $50
Step 2:
c = $50 / $1,000 = 0.05 = 5%
Step 3:
b + ($3,000 x 5%) = $610
b + $150 = $610
Step 4.
b = $610 -$150 = $460
Answer: The rule that requires that a contract should be written is Equal dignity rule
Explanation:
Equal-dignities rule is a rule in which an agent act according to the authority give ln by the principal. These action are only taken by the agent through following the written authorization.
It is crucial on cases of fraud hence in this rule a contract is considered on in a written form otherwise it may be rejected .
