Answer: $129,500
Explanation:
According to the Accrual Basis in Accounting, revenue and expenses should only be recognised when goods have been delivered.
On the December 31, 2020 Sandra's Boutique had 1,850 gift certificates outstanding but these had been sold already to people during the year for $70.
This means that they have been paid for a service that they have not given (they provide the service when the GIFT certificate is renewed).
They cannot therefore recognize the revenue as Revenue yet and have to defer it.
The amount to be Deferred will therefore be,
= 1,850 * $70
= $129,500
I'm not sure, but I think that it is D. Lawyer
<span>The owners equity is the difference between the assets and liabilities of a company. To do this, one would add up all of their assets, including monetary, and add up all potential liabilities. The liabilities are then subtracted from the assets.</span>
Answer:
d) competitors are similar to monopolists.
Explanation:
Monopolistic competition refers to a condition of the market in which it connects with various irms that are closely linked to each other but sell distinct products.
Also, there is free entry and exit in this market
In case when consumer taste and preferences are different so the monopolistic competitors are the same as the monopolist
hence, the correct option is d.
