Answer:
An objective of the expense recognition (matching) principle is to have bad debt expense debited in ,Nation matching,
Answer:
The ansewr is a barter based economy.
In a barter based economy, goods are exchanged for other goods, because no good that takes the functions of money exists (unit of account, store of value, and medium of exchange).
Barter economies can work on a limited scope, but to a larger extent, they can become inefficient, because this type of economy requires a double coincidence of wants: both parties of the transaction must desire the other party's goods.
Answer: Yes it's possible as long as Tom and Sara gives a written consent to the dual agency arrangement.
Explanation:
From the question, we are informed that Southtown Realty has entered into agency agreements with Sara, a seller and Tom, a buyer. Tom wants to make an offer on Sara’s home.
This is possible as long as Tom and Sara gives a written consent to the dual agency arrangement.
Personal insolvency can be legally satisfied by Chapter 13 bankruptcy (and also Chapter 7 bankruptcy if that is one of your choices available).
Answer:
The correct answer is number (1): summarizes the firms revenues and expenses over an accounting period.
Explanation:
The Income Statement is a report that examines the financial performance of a business over a given period. In compliance with Generally Accepted Accounting Principles (GAAP), publicly traded companies will report income statements, balance sheets and cash flow for each quarter and year.
<em>A company's Income Statement shows revenues, expenses and net profits for both operating and non-operating activities</em>.