<span>Like its name implies, an irrevocable trust cannot be changed or ended. Grantors who transfer their assets into such a trust are effectively gifting them to it, revoking their ownership of said assets. This trust is often used as a more tax-effective way to protect an estate.</span>
Answer:
Explanation:
1. Wood used in the production of furniture is a variable cost
2. Fuel used in delivery trucks is variable cost
3. Straight Line depreciation on factory building is a Fixed cost
4. Screws used in production is a Variable cost
5. Sales staff Salaries is a Fixed cost
6.Sales commissions Variable
7.Property taxes Fixed
8. Insurance on buildings Fixed
9. Hourly wages of Furniture is Variable
10. Salaries of factory supervisrors is Fixed cost
11. Utillities is Mixed cost
12. Telephone bill is a Mixed cost
It is reported as foot notes in cashflow statement or in the notes of financial statements.
When an income statement is converted to cash flows from operational operations, noncash items like as depreciation and nonoperating profits and losses are not included. Non-cash investing and financing entails making an investment or purchase using financial instruments other than cash.
The Generally Accepted Accounting Principles (GAAP) are a collection of generally observed financial reporting accounting standards and regulations. The four main constraints of GAAP are objectivity, the materiality, the consistency, and the prudence.
Companies are required by both IFRS and US GAAP to declare any substantial non-cash investment and financing operations, either as a footnote at the bottom of the statement of the cash flows or in notes to the financial statements.
Therefore, the answer is the bottom of the statement of the cash flows or in the notes to financial statements.
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Answer:
You should make sure the channel you choose is capable of creating lots of:
Time and place utilities.
Explanation:
Utility:
In business, utility is defined as the benefit or value that a customer gets from the product of a business.
- There are fours type of utilities which are: Time Utility, Form Utility, Place Utility and Possession Utility.
- Time Utility: This utility means that your product remain available to the customer at a time when the customer need it. Like if a customer wants the product available at night then it should be available.
- Place Utility: This utility means that the your product is available to the customer wherever the product is required. For example if a customer wants your product at a specific place then it should be available.
- In this questions, time and place utility were required from the manager.
Answer:
The budgeted gross profit for July is $ 11,000.
Explanation:
total cost of goods sold per july = $8,800
total units sales = $ 550
cost of goods sold for unit = $16
budgeted sale per unit is = $36
budgeted gross profit for unit = selling price - cost of goods sold
= $36 - $16
= $20
total budgeted gross profit for july
= total units sales in july *gross profit per unit
= 550*$20
= $ 11,000
Therefore, The budgeted gross profit for July is $ 11,000.
