Answer:
4. Adjusting entries are typically recorded on the last day of the accounting period.
Explanation:
They aer recorded on the last day of the accounting period as we do adjustment for accrual accounting like:
expired prepaid rent, expired prepaid insurance, accrued wages payable, accrued revenues, accrued interest revenues or interest expense, depreication on assets, amortization and other.
Answer: an obligor
Explanation:
From the question, we are informed that Floyd and Gert enter into a contract by which Floyd promises to deliver fertilizer to Gert and that Floyd subsequently transfers this duty to Hazel.
In this case, Floyd is an obligor. An obligor os defined as an individual who by contract or due to a legal procedure, undertakes an obligation for another individual.
Answer:
b.to evaluate the company's stock performance
Explanation:
Evaluating a company stock performance would interest investors more than the managers of the company. Investors are profits driven. Their primary concern is to predict the future price of a stock as accurately as possible and profit from the price movement.
Managers are concerned with the profitability and long term growth of the company. They use managerial information to understand the current state and make better plans for the future. Managers use managerial reports to identify areas that need cost-cutting to maximize the profits.
Answer:
c. creates a situation in which the quantity demanded of housing is greater than quantity supplied.
Explanation:
A rent ceiling set below the equilibrium rent creates a situation in which the quantity demanded of housing is greater than quantity supplied.
Price ceiling creates a situation where quantity demanded exceeds quantity supplied because suppliers (landlords) will be unwilling to sell products or services at a price lower than the equilibrium price which will immediately create a shortfall in supply, while consumers (tenants) will be eager to rent at a price lower than the equilibrium price BUT due to shortage of supply, the quantity demanded now exceeds the available quantity supplied
Of course, in order for the product to be competitive in the market, it should have the same price or lower to the products with same utility, so the verdict of the consumers, depends on how varied the product is compared to its competitors. Thus, it is true that companies often try to gain more control over pricing by attempting to differentiate their products.
