Answer:
Option B
Explanation:
Since the contract did not mentioned any thing about the retuning of containers that were not defective, it becomes the obligation of the buyer to pay the final delivery amount on the basis of Good-faith modification.
Hence, option B is correct
Using the allowance method, is bad debt expense recognized in the period in which sales related to the uncollectible account are made.
One of the most typical types of bad debt is credit card debt. Lenders issue credit cards, which let you make purchases on credit. These credit cards frequently have exorbitant interest rates that can soon become out of control.
Bad debt costs are typically listed on the income statement as a sales and general administrative expenditure. Accounts receivable on the balance sheet are reduced when bad debts are recognized, but firms still have the right to collect money if the situation changes.
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Answer:
11 years
Explanation:
For computing, the number of years or the account will be fully depleted we need to apply the NPER formula i.e to be shown in the attachment below:
Given that,
Present value = $100,000
Future value = $0
PMT = $12,000
Rate of interest = 5%
The formula is shown below:
= NPER(Rate;PMT;-PV;FV;type)
The present value come in negative
So, after applying the above formula, the number of years in which the account is depleted is 11 years
Answer:
The insurer shall be held liable
Explanation:
For any published or displayed content which relates to the insurer or it's products, the insurer shall be made liable for any inappropriate content.
In cases wherein the advertisement function has been assigned to an insurance agency, even in such a scenarios, the sole responsibility rests with the insurer and it's their primary responsibility to check upon the content advertised.
Thus, if any inappropriate content or misleading claims are made, it shall be assumed those have been issued by consent of the insurer and the insurer cannot escape this liability.
Answer:
The correct answer is A)
Explanation:
When products and or services are manufactured at a level that maximizes social welfare, allocative efficiency is said to have occurred.
A market system characterized as monopolistic competition may <u><em>never </em></u>achieve productive efficiency because firms often fix prices at a point higher than their marginal costs.
Marginal cost refers to the added cost incurred by producing or manufacturing one additional unit of a product.
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