Answer:
b. Materials 190,000 Accounts Payable 190,000
Explanation:
Materials may either be purchased on credit or by cash, When materials are purchased on credit, such materials are said to have been purchased on accounts.
The entries for cash purchases are ;
Debit Supplies/Inventory account
Credit Cash account
However, when the purchase is done on account, the credit entry goes to the accounts payable and not cash.
In a sales mix condition at any level of units vended the net income will be higher if more higher contribution margin units are sold than lower contribution margin units. The sales mix is the comparative proportion in which a company vends its multiple goods. In addition, the contribution margin ratio is contribution margin separated by sales.
Answer:
b. As inherent risk goes up, audit risk goes down.
Explanation:
Inherent risk is the risk which is present before applying any control, and audit risk is the that the auditor expresses inappropiate audit opinion when the financial statements are materialy misstated.
Thus, when the inherent risk is <em>high</em>, the auditor keeps the audit risk at <em>low </em>level to perform more subtantative procedures.
Taxed market forces are destroying the industries
The Johnson's can't sue the driver in the Federal Court because the Johnson's live in the same state (since the driver lives near the Johnson's in the same time) and the damages ($5,000.00) are too small.
