Answer:
B, Cultural congruence
Explanation:
Cultural congruence is a kind of marketing technique/strategy in which a new product with similar characteristics as with the currently existing product is marketed. This technique of marketing helps to reduce resistance as consumers see the new product as the same as the existing product.
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The law of increasing opportunity costs is reflected in a production possibilities curve that is concave to the origin.
The statement is true.
In preparing a bank reconciliation, the amount of an error indicating the recording of a check in the journal for an amount larger than the amount of the check is added to the balance per the company's records because the excess amount would be reduced from the bank balance in the company's records, So the company books are not correct. To make them correct the excess amount should be added back to the balance as per the company's records.
For example, if the check amount was 500 but the company recorded it as $550. Then means that the company records show $50 less compared to the bank statement. Therefore, that $50 is added back and then it comes equal to the bank statement balance.
When a note is written to settle open account an entry that converts the accounts receivable account to a note receivable account is required. This entry is required because when the note is written to settle accounts the company has to receive notes in the future and the amount of the account.
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In preparing a bank reconciliation, the amount of an error indicating the recording of a check in the journal for an amount larger than the amount of the check is added to the balance per company's records.
TRUE
FALSE
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Answer:
$31.00
Explanation:
Calculation to determine what The total standard cost of Vaughn's product is
Using this formula
Total standard cost of product=(Material Standard rate per pound × pounds of material) + (Labor standard rate per hour × labor hours) + (Standard overhead rate x labor hours)
Let plug in the formula
Total standard cost of product=[($4 × 5) + ($5 × 1.0)]+ ($6 × 1.0)
Total standard cost of product=($20+$5)+$6
Total standard cost of product= $25.00 +$6
Total standard cost of product= $31.00
Therefore The total standard cost of Vaughn's product is $31.00
Answer:
journal entries
Write-off
Debit Bad Debts expense $11,000 Credit Accounts receivable $11,000
Recovery
Debit Bank $1,800 Credit Bad Debt Recovered income $1,800
Allowance for Doubtful debt Adjustment
Debit Allowance for doubtful debt Adjustment $4,000 Credit Allowance for doubtful debt $4,000
Explanation:
Write-off
The write-off creates an expense (bad debt) and and decreases an asset ( Accounts receivable)
Recovery
Since the amount has been written off as bad, when it is recovered it is no longer recognized as a payment on accounts receivable but an income the entity thought was lost.
Allowance for doubtful debt adjustment
The differences in the opening balance and closing balance either creates an expense or an income adjustment. These estimates are on net Accounts receivables ( after bad debts) are a negative assets.
19000 - 15000 = 4000(increase) adjustment and is an expense.
