Answer: E) May depend on some future event occurring. It is not a characteristic of known liabilities.
Explanation: Unknown or uncertain liabilities are those whose existence depends on the occurrence of a future event.
Known liabilities <u>are definitely determinable and measurable.</u>
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Answer:
1. Must Gidgits Galore provide its employees with benefits? No
2. Does Gidgits Galore have to implement a payroll tax for unemployment, workers' compensation, or Social Security? Yes
3. Gidgits Galore is concerned about hiring employees from other countries whose language skills may not be proficient and is considering hiring only native English speakers. Is this a good idea? No
4. Does the Commerce Clause have an effect on Gidgits Galore? Yes
5. Can Gidgits Galore face any repercussions if it disregards Title VII? Yes
6. Gidgits Galore is concerned about hiring employees from other countries whose language skills may not be proficient and is considering hiring only native English speakers. Would this represent "disparate treatment"? Yes
7. Gidgits Galore wants a "young and hip" workforce. Is there a problem if it chooses not to hire anyone over the age of forty? Yes
8. Gidgits Galore wants to put a section in its updated employment manual preventing employees from taking more than thirty days from work without pay, regardless of the reason. Is this a good idea? No
9. What if Gidgits Galore wants to add a provision to its employee manual preventing employees from forming a union? Can this be done? No
Explanation:
Edge 2021
Answer:
b. $3,000
Explanation:
According to the above information, the following data are given
Credit sales = $100,000
Uncollectible percentage = 3%
So, after the adjustment by using allowance method, Bad debt expense can be calculated as;
Bad debt expense = Credit sales × Uncollectible percentage
= $100,000 × 3%
= $3,000
Answer:
$9,000 unfavorable
Explanation:
The computation of the total fixed overhead variance is shown below:
= Actual fixed overhead costs - Budgeted fixed overhead
where,
Budgeted fixed overhead is $360,000
And, the Actual fixed overhead cost is computed below:
= Actual fixed overhead × Actual production ÷ budgeted production
= $360,000 × 11,700 units ÷ 12,000 units
= $351,000
Now put these values to the above formula
So, the value would equal to
= $351,000 - $360,000
= $9,000 unfavorable
Answer:
Money as a medium of exchange is more preferable because of its less cumbersome nature.
Explanation:
Money as a medium of exchange is more suitable because of its less cumbersome nature. Money was invented because of the inefficient nature of the barter system.
Money is easily stored compared to a barter system.
Money as a medium of exchange eliminates the barter system's problem of double coincidence of wants. Barter works when you trade things you own for things you want. If for example you want a bicycle and you own a goat, you have to look for someone who wants a goat and owns a bicycle willing to make an exchange, which can be quite difficult.
Money is an acceptable medium of exchange to all parties which makes it more preferable to bartering.
