<span>The price of the smartphone will decrease. Users need smart phones having greater memory power. Present market demands more money with increased memory power. If the price of memory chips decrease naturally the companies will increase the memory power of phones and will lead to decrease in the price of the smartphones.</span>
Answer:
A. True because a liability is what you owe
This occurs when a checking account is overdrawn and doesn't have enough money in it to cover debts. A fee is charged and more funds must be added to the account.
The typical accounting principles/assumption includes Accrual principle, Conservatism principle., Consistency principle, Cost principle, Economic entity principle, Full disclosure principle, Going concern principle, , Matching principle etc.
<h3>What are the correct concept for each of the following activities using the drop-down list?</h3>
- Pastel Paint Company purchased land two years ago at a price of $250,000. Because the value of the assumptions and land has appreciated to $400,000, the company has valued the land at $400,000 in its most recent balance sheet. - The historical cost.
- Atwell Corporation has not prepared financial statements for external users for over three years. - The periodicity assumption.
- The Klingon Company sells farm machinery. Revenue from a large order of machinery from a new buyer was recorded the day the order was received. - The realization principle.
- Don Smith is the sole owner of a company called Hardware City. The company recently paid a $150 utility bill for Smith's personal residence and recorded a $150 expense. - Economic entity assumption.
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If Mary doesn't use the card in a responsible way, there's a possibility that Mary will spend more than what her parents allowed her to spend. Therefore, giving more payment duties to her parents which could also result to debt if the amount spend is too much.
