What is business ethics

the liability created when supplies are bought on account is called an account payable ,true or false

tigry1 [53]

Answer:

True.

Explanation:

In Financial accounting, liability can be defined as the amount of money being owed by an individual or organization to another.

Simply stated, liability is a debt being owed and as such it usually has "payable" in its account title on the balance sheet.

Generally, liabilities are recorded on the right side of the balance sheet and it comprises of financial informations such as warranties, bonds, loans, deferred revenues, mortgages, account payable etc.

Current liability in financial accounting can be defined as the short-term financial obligation such as debt (account payable) that is due to be paid in cash within one (fiscal) year or one operating cycle of a company, whichever is longer.

A company's current liability comprises of the following; dividends payable, short-term debts, account payable, notes payable, interest payable, wages payable, deferred revenues, income tax payable, etc.

Basically, companies usually settles their current liabilities with current assets such as account receivables or cash, that are used up within a fiscal year.

Hence, the liability created when supplies are bought on account is called an account payable.

6 0

3 years ago

International Data Systems' information on revenue and costs is relevant only up to a sales volume of 121,000 units. After 121,0

laila [671]

Answer:

a. $534,000

b. $271,550

Explanation:

a. Compute operating income at 121,000 units

Using this formula

Operating Income = (Price per unit - Variable cost per unit)*Units - Fixed costs

Let plug in the formula

Operating Income = ($10.00 - $5.00)*121,000 - $71,000

Operating Income = ($5.00)*121,000 - $71,000

Operating Income =$605,000-$71,000

Operating Income = $534,000

Therefore operating income at 121,000 units is $534,000

b. Compute operating income at 221,000 units

Using this formula

Operating Income = (Price per unit - Variable cost per unit)*Units - Fixed costs

Let plug in the formula

Operating Income = ($6.80 - $5.25)*221,000 - $71,000

Operating Income = $1.55*221,000-$71,000

Operating Income = $342,550-$71,000

Operating Income = $271,550

Therefore operating income at 121,000 units at 221,000 units is $271,550

5 0

3 years ago

Consciousness is defined in your text as _____. A. an awareness of oneself and one's surroundings B. mental representations of t

Anastaziya [24]

Answer:

The correct answer is A. an awareness of one's self and one's surroundings

Explanation:

Consciousness is defined, in general terms, as the knowledge that a being has of itself and its surroundings. It can also refer to morality or the normal reception of stimuli from inside and outside by an organism.

There is debate about what exactly conscience consists of. In the area of artificial intelligence, the idea of creating machines or programs complex enough to give rise to an artificial consciousness has been worked on, but some have denied the possibility that a computer can give rise to something genuinely indistinguishable from a consciousness.

7 0

3 years ago

__________ makes it possible for Ford to invest $60 million in a Mexico City manufacturing plant to produce smaller cars and lig

Dmitriy789 [7]

Answer:

The North American Free Trade Agreements

Explanation:

The reason is that the free trade agreements eliminates the price escalation which is imposed by the other countries on importing these goods. So as a result the market becomes less attractive to the company because its product are not able to compete in that environment. The FTA helps organizations to use the resources of other countries with which the country has free trade agreements to lower its costs to compete competitors. The vital resource in Mexico is cheap labor cost and America has one of the best technologies in the world.

7 0

4 years ago

Hrustic Company issued $750,000 of 12% convertible bonds at face value on an interest payment date several years ago. The face v

mina [271]

Answer: The bondholders decided to convert the bonds into common stock because they believed that getting $2250 today is worth more than $120 interest every year and a $1000 principal payment at the end of the bonds life.

Explanation:

1) In order to find out the number of bonds issued we need to divide 750,000 (Total ) by 1000(Face value of each bond).Total number of bonds issues therefore are 750.

2) A 12 percent convertible bond means that the bond pays a coupon of 120 ( 0.12 * 1000) every year.

3) Each bond is convertible into 25 shares , which means if one bond is converted into common stock, the bond holder can earn $1750. We calculate this number by multiplying the number of shares which is 25 into the current market price of the shares which is 70.

4) Also the company is offering an extra $500 per bond for converting it which means (500/25) an extra $20 per share.

5) So in total the bondholder by converting a bond and selling the shares he gets by converting it can earn $2250 per bond which they bought for a $1000 and gives them 120$ of interest every year.

6) SO to conclude the bondholders decided to convert the bonds into common stock because they believed that getting $2250 today is worth more than $120 interest every year and a $1000 principal payment at the end of the bonds life.

5 0

3 years ago