Answer:
In this scenario, Creswell Farms is in the idea generation stage of the new product development process.
Explanation:
Idea generation stage refers to the stage which involves the creation, development, and communication of the ideas. The process involves the construction of the idea and transforming the concepts into reality. The initiation of a project begins with the generation of the idea generation stage. In the above case, the suggestions are provided which would help the business of the product. Hence, this refers to the idea generation stage.
Answer:
The answer is:
Disagree
The matching principle is violated
Explanation:
The order of a customer worth $40, 000 was received at year end. However, the merchandise will only ship in the year following the fiscal year. When goods are shipped, revenue is recognised on shipping the goods or receipt of the goods by the customer. According to the information provided, merchandise will only be shipped in 2021, therefore the customer will only receive the goods in 2021. Given this information, recognising revenue in the current period would be an incorrect treatment of the transaction and contravene the matching principle. This principle indicates that revenue and the costs associated with the revenue should be recognised in the same period.
The sale should not be recognised in 2020 because the goods' delivery and the costs incurred in delivering those goods will only be incurred in 2021. No indicated payment, cash or otherwise, was received in lieu of this transaction. Recognising this sale in the income statement and the associated asset in the statement of financial position could be misconstrued as an attempted enhancement of Pastel Inc.'s financial position for the 2020 fiscal year end.
Answer: Mutual mistake
Explanation:
A mutual mistake in a contract is a situation that arises when the parties in a contract make the same mistake in reference to a significant fact in the contract. i.e., they are mutually ignorant of a fact of the contract.
Had they both known about that mistake, they might not have gone into the contract so the contract is voidable in this scenario.
Both Walker and Sheerwood were mutually mistaken about the fact that Rose was pregnant when they went into the contract so this contract is voidable by this theory.
Answer:
The Today's value of payment occurred for 20 years is $72,039.
Explanation:
Payment of fixed amount for a fixed period of time is called annuity. Present value of annuity will be calculated as follow
PV of annuity = P x [ ( 1- ( 1 + r )^-n ) / r ]
According to given data
P = monthly payment = $6,800 every year
r = interest rate = 7%
n = number of period = 20 years = 20 periods
PV of annuity = $6,800 x [ ( 1- ( 1 + 0.07 )^-20 ) / 0.07 ]
PV of annuity = $72,039.30
When a tax is imposed on lemonade buyers, the burden of the tax will be shared by the buyers and the sellers, however the distribution of the burden is not always equal.
<h3>when a tax is imposed on product purchasers?</h3>
The supply curve is shifted by a tax paid by sellers, whereas the demand curve is shifted by a tax paid by buyers. Regardless of who pays the tax, the result is the same. With a tax on a good, consumers pay more, sellers are paid less, and there are fewer sales overall.
<h3>What is the tax split between buyers and sellers?</h3>
The cost of a sales tax is split between buyers and sellers under the scenario of demand and supply curves with normal shapes. The ratio of supply and demand elasticity determines how much of a tax will fall on either the buyers or the sellers, or both.
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