Answer:
A. $5,000
Explanation:
Reciprocal interfund activity includes interfund loans and interfund services provided and used. Nonreciprocal transfers include interfund transfers to establish a new fund and routine interfund reimbursements.
Billing by the internal service fund to a department financed by the general fund for services rendered for $5,000 is the only transaction meeting the definition of a reciprocal interfund activity.
<span>The business implemented RFID as a way of tracking inventory. Using radio frequency made it easier to track and store inventory without running the risk of over- or under-ordering their products. This makes sure that the inventory is properly tagged and that the turnover rates on the products are properly logged. It also makes sure that the products do get turned over, instead of being left to waste in the stockroom due to errors on the part of the stock crew.</span>
Answer:
The correct answer is letter "D": Prevents overstatement of the value of obsolete or damaged inventories.
Explanation:
The lower-of-cost-or-market method values assets according to the lowest value possible choosing between the market value or the asset's historical cost. This accounting principle is useful to avoid exaggerating the value of obsolete or damaged assets the firm might have in stock.
Answer: The profit margin is 22.35 %
Explanation: The formula for profit margin is net profit/ income ÷ net sales.
As such, the profit margin is (131000 ÷ 586000) x 100 = 0.2235 * 100 = 22.35 %
Answer: Business calculation is mathematics used by industrial companies to record and maintain enterprise operations. Profit-making organizations use mathematics in accounting, catalog management, retailing, deals forecasting, and monetary analysis.
