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Ostrovityanka [42]
3 years ago
8

In 2017, Orear Manufacturing signed a contract with a supplier to purchase raw materials in 2018 for $700,000. Before the Decemb

er 31, 2017 balance sheet date, the market price for these materials dropped to $510,000. The journal entry to record this situation at December 31, 2017 will result in a credit that should be reporteda) as an appropriation of retained earnings.b) as a valuation account to Inventory on the balance sheet.c) on the income statement.d) as a current liability.
Business
1 answer:
Triss [41]3 years ago
5 0

Answer:

d) as a current liability.

Explanation:

As in the given instance, the value of transaction is also known, further since the contract s signed the company has liability to buy the goods and accordingly the company has to incur such payment.

Since there will be an purchase for which payment will be made in future.

Therefore, this will give rise to current liability, although value of goods has decreased but still, there is a liability of payment.

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The statement "Bond prices vary inversely with changes in the market rate of interest" means
Sati [7]

Answer:

The correct answer is option A.

Explanation:

The statement given above says that bond prices vary inversely with changes in market interest rate. It means that there is an inverse relationship between bond prices and the market interest rate.

In other words, when the market interest rate falls, the bond prices will rise and when there is an increase in market interest rate, the bond prices will fall. The bond price and market rate of interest are negatively related.  

5 0
3 years ago
I really need help on this paper I missed because I was sick. Please help me :(
ivolga24 [154]
1. False, a debit card charges your checking account while a credit card is a loan from the bank.
2. True, they are both ways of quickly purchasing an item.
3. True, a debit takes from the checking.
4. False, the debit card would be rejected unless your account uses overdrafting.
5. False, a credit card a securing a loan.
6. False, a debit card can withdraw cash from an ATM as well as quickly purchase items from almost any store.
7. True, debit cards are linked directly to the bank and its less hassle than a check. A check requires the business to contact the bank for the information before the check is accepted or denied.
8. True, a thief can use the debit card without proof of identity. In some instances they would need to provide your PIN but in most circumstances they can purchase items under the debit cards name.
9. True, keeping keep of spending is important if you have a debit card. If you don't keep track of your spending you wont know when that card will be rejected.

Hope this helped with finances!
8 0
4 years ago
Calculating deposit needed You put ​$10 comma 000 in an account earning 5​%. After 3 ​years, you make another deposit into the s
Katen [24]

Answer:

Amount deposited at the end of three year will be $4877.8245

Explanation:

We have given principal amount P = $10000

Rate of return = 5 % = 0.05

First take time t = 3 years

So the amount after 3 years

A=P(1+\frac{r}{100})^n=10000\times (1+0.05)^3=$11576.25

Let the amount of deposit after 3 years = x

So total amount of deposit = 11576.25 + x

Amount after 7 years = $20000

So 20000=(11576.25+x)(1+0.05)^4

20000=(11576.25+x)\times 1.2155

20000=14071+1.2155x

x=$4877.8245

6 0
4 years ago
What is the most common type of fraud? multiple choice customer theft robbery arson employee theft collusion
11111nata11111 [884]

Employee theft is the most common type of fraud.

<h3>What is fraud?</h3>

Fraud is a deliberate act of deception intended to give the offender an unauthorized benefit or to deny the victim of a right. Tax fraud, credit card fraud, wire fraud, securities fraud, and bankruptcy fraud are all examples of fraud. Fraudulent conduct can be committed by a single person, a group of people, or an entire company.

<h3>How does financial fraud work?</h3>

Financial fraud is a crime that involves hacking into accounts and transactions in order to benefit the perpetrator financially. People must be aware of financial fraud because it has become more prevalent as a result of the growing payments sector and widespread usage of credit and debit cards.

<h3>What is phishing?</h3>

The growth of online banking and the overall expansion of the cyber world have made it possible for fraudsters to use online channels to target online bankers. Phishing emails can be sent to online bankers under the guise of being from a bank, allowing them to seek users' login information and passwords without coming off as unusual. All of the financial information of online bankers who fall for this phishing email will be stolen for the scammer's gain.

Learn more about Fraud:

brainly.com/question/26963566

#SPJ4

7 0
2 years ago
A self-portrait of a celebrated photographer sold at a Christie's auction for about $4 million dollars. According to Christie's,
aleksandr82 [10.1K]

Answer:

The correct answer is letter "B": specialty goods.

Explanation:

Specialty goods are those for which buyers can make a special offer to acquire them based on special features the good has and brand recognition that makes it unique. <em>Luxury cars, cultural ornaments, </em>and <em>high-fashion clothing</em> are examples of specialty goods.

4 0
4 years ago
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