"Chapter 13" form of bankruptcy allows a debtor with a regular income to extinguish his or her debts from future earnings or other property over a period of time.
<h3>What is chapter 13 form?</h3>
An individual with steady income may alter their debts under this chapter of the Bankruptcy Code. Generally three to five years, Chapter 13 enables a debtor to maintain their assets while paying down their debts.
The benefits of filling chapter 13 form:
- You might be able to extend the time you pay off your debt, lower the amount you pay each month, or give up a piece of property you're paying off.
- Additionally, after you successfully finish a Chapter 13 repayment plan, certain creditors can no longer require full payment from you.
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Answer:
$267,000
Explanation:
Total manufacturing cost refers to the sum of all expenses incurred by a firm in the production process in a period. Total manufacturing cost is compared with total revenue to determine profitability. The calculation of total manufacturing involves additional direct materials, direct labor, and overhead costs.
Therefore, total manufacturing cost = Direct materials +Direct labor + overhead costs.
For crane company:
$390,000= $59,000 + $ 64,000 + direct labor
= $390,000= $123,000 + direct labor
=Direct labor =$390,000-$123,000
=$267,000
This is true. ..............
Answer:
The correct answer is letter "C": Justifies ignoring the matching principle or the realization principle in certain circumstances.
Explanation:
The materiality accounting principle states that some of the Generally Accepted Accounting Principles can be omitted in the entry of an item while record-keeping a company's transactions only in the case the entry does not have any influence on the Financial Statements. Those principles could imply matching or realization principles.
