The likely result of having to have a discarded computer that was fully depreciated and the residual value is discarded as it is not present, the transaction will likely cause a loss equal in regards to the residual value that may be recognized.
Answer:
Limited liability means the business owners' liability for debts is restricted to the amount they put into the business. With unlimited liability, the business owner is personally responsible for any loss the business makes.
Explanation:
Commission means that an employee is paid a given amount regardless of the number of hours worked or quality of the work.
Answer:
Fixed costs and Variable costs
Explanation:
Fixed costs do not vary with production levels. Sometimes they are referred as period cost. In a financial year, fixed cost will be constant figures whether production goes up and down. Examples of fixed costs include rent, salaries, depreciation, and administrative expenses. The depreciation cost of a machine is a constant figure per year throughout its useful life. It does not change whether the asset is over or underutilized.
Variable costs are expenses that are affected by the production level. They are costs directly associated with the production process. Examples include raw materials and packaging. As production increases, the cost of raw materials will increase. Variable costs are dependent on production output.
