The debit balance at the end of the fiscal year becomes a remaining amount of the revenue (expense) or a deficit from the estimated revenue. This is reported on the income statement and followed on the next report that should be addressed on to the future revenue.
Answer:
acid-test ratio 1,4044
Explanation:
We are asked for a variation ofthe current ratio
whie current ratio is determinate like:
the acid-test will remove inventory from the current assets, leaving only cash, marketable securities and accounts receivables considered for the calculations:
191,000 current assets - 85,000 inventory = 106,000
136,000 current liabilities
191,600 / 136,000 = 1,4044
Answer:
B) The balance sheet will report the note receivable of $8,400 and interest receivable of $700.
Explanation:
The note receivable is an asset account that should be included in the balance sheet at face value, $8,400.
Since 8 months have passed since the note was made, we can include the interest receivable in the balance sheet, but only the 10 months: $8,400 x (10/12) x 10% = $700
Answer:
Ethnocentrism
Explanation:
Ethnocentrism refers to the situation whereby an individual evaluates other cultures with the idea to his/her owk cultural background is the standard and superior to other cultural background. It is the condition whereby and individual believe he is superior base on his cultural heritage or background.
It is a form of bias in which s person believes in the superiority of his/her own group over other group, this using his group as a standard and comparing it with the preconceptions that his/her group is the superior.
Answer:
The correct answer is letter "D": standing-room-only.
Explanation:
Standing-room-only is a sales closing technique by which the clerk creates scarcity of a product to hurry the buyer to purchase the good otherwise there might not be samples available if the buyer decides to wait to make a decision.
By making the product "<em>limited</em>", clerks make buyers place special attention on that product even if it does not deserve it since the seller might be manipulating the information at will. Buyers must try to confirm if what the seller is true or if the clerks are just trying to push the sale.
