Answer:
Dr cash $8,640
Dr sales discount $360
Cr accounts receivable $9,000
Explanation:
First and foremost , it is noteworthy that receiving payment on 17 November means that customer paid within the stipulated discount period of ten days, hence entitled to a 4% discount off the purchase price.
Cash received=$9,000*(1-4%)=$ 8,640.00
Discount allowed=$9,000-$ 8,640=$360
As a result of the above computations, the cash account would be debited with $8,640 while sales discount is debited with $360.
The accounts receivable is debited with the full purchase price of $9,000
Answer:
The correct answer is letter "C": There should be discussion and well understood ways that the partners will handle disagreements and have a written exit strategy.
Explanation:
The Model Business Corporation Act (<em>MBCA</em>) is a set of laws meant to regulate business practices. The Act or at least part of it is accepted by every state of the U.S. The MBCA goes over different topics related to the establishment of a corporation such as the steps related to creating the firm, the liability and its effects, corporate management structure and good practices to avoid internal misunderstandings.
Answer:
A) true
Explanation:
This requirement applies mostly to used cars. Some states do not require emissions inspections for vehicles that are less than 4 or 6 years old (depends on the state, e.g. Arizona's threshold is 6 years). Other states also allow certain old vehicles to not pass emissions inspections (e.g. Massachusetts does not requires vehicles over 15 years old to pass emissions inspections).
Those vehicles that do not pass the emissions inspections will not be registered by the Department of Motor Vehicles (DMV), that means they will not receive a license plate so it is illegal to drive them.
Answer: (D).
Increase government spending and decrease income taxes
Explanation:
According to John Maynard Keynes, when an economy is in depression (economic activities are low and unemployment is high), people and businesses are afraid to spend and invest.
Therefore the government should increase its spending and reduce income tax. This will increase demand and create employment thereby stimulating the economy.
Answer:
Explanation:
We list them and subtract budget - actual
When actual is greater than budget the variance is negatine.
While budget being lower than actual is considered a positive variance.