They do what government planners tell them They provide goods and services to workers They make the economic decisions They allocate resources for production They make the economic decisions Which economic indicator would be most useful for figuring out how much something
Answer:
D. The minimum of the range
Explanation:
First, it is essential to note the accrual of loss contingency is accruable only if the amount is estimable to a reasonable extent and the loss is also probable. Wyatt Co's loss is actually both probable and reasonably estimated so it meets the two criteria.
Furthermore, since it is reasonable within a rang of outcomes, Accounting Standards Codification Topic 450 (of the Financial Accounting Standard Board) dictates the amount to be accrued should be the better estimate of all amounts within the range.
The standard further states that in a situation where a better estimate can not be determined among the other amounts within the range then the amount accrued should be the one at the range's low end or the minimum amount of the range.
All these criteria shows that Wyatt CO's loss should accrue the minimum amount in the range
Answer:
X = $190000
Explanation:
given data:
cost of manufactured goods =$260000
total manufacturing cost = $286000
process inventory in beginning = $164000
ending inventory process {X} is calculated as
cost of manufactured goods = - X +total manufacturing cost +process inventory in beginning
Putting all value to get required ending process inventory
$260000 = -X + $286000+$164000
X = $190000
Answer:
SEP IRA
Explanation:
A SEP IRA means , a Simplified Employee Pension IRA, which is easier to set up and administrate than most other pension plans.
The Simplified Employee Pension IRA allows the employer to make a deductible contribution of a maximum of 25% of an employee's income (20% effective rate), capped at $54,000 in 2017.
The Simplified Employee Pension IRA has a key advantage which is that, it allows the employer to vary the contribution percentage each year .
In this case, a smaller business should make use of Simplified Employee Pension IRA, because it is easier to set up and have other benefits that are okay for such type of business.
Answer:
Inventory
Explanation:
Inventory refers to
- The finished products in the warehouse or store that is ready for sale.
- Raw materials used in the production of goods
- Goods that in the production process, also known as work in progress.
Inventory is held with the intention of selling. It is classified as current assets. Income realized from the sale of inventory is revenue to the business.
