Answer:
(1) <em>Services</em> <em>are not separable.</em>
<em>(2) Services</em> <em>are intangible: they can only be felt</em>.
Explanation:
(1) <u>Services are not separable</u>
Services can't be separated from a person once they are felt. In this case Greer felt had a satisfactory experience of manicures several times which enabled her to have a judgment about the latest manicure service.
(2) <em><u>Services </u></em><u>are intangible: they can only be felt</u>
<em>Services</em> are intangible i.e. they can only be felt. The past fruitful experiences of Greer towards the manicure services and the current latest manicure service experience was only felt by her and not measured numerically. The experiences felt from the respective service offerings enabled her to make the decision about her latest services availed of manicure.
Answer:
1. No journal entry required
2. No journal entry required
3 Dr Loss $470,000
Cr Contingent liability $470,000
Explanation:
Preparation of the journal entry to Record any amounts as a result of each of these contingencies
1. Based on the information given we were told that The likelihood of the payment is reasonably possible which means that contingent liability amount was not recognized and therefore NO JOURNAL ENTRY IS REQUIRED
No journal entry required
2. Based on the information given we were told that Environmental Printing was expecting to win the case and be awarded the cash amount involved which means NO JOURNAL ENTRY IS REQUIRED reason been the CONTINGENT GAIN will not be recognized until the amount is received.
No journal entry required
3. Contingent liability was recorded because the payment is reasonably possible and Estimated.
Dr Loss $470,000
Cr Contingent liability $470,000
Answer: (F) Collateral
Explanation:
According to the given question, Collateral is referred to proper designation under UCC in which the Dennis refused to return television to the ABC electronics company.
The term Collateral is referring as assets such as television that is typically used to secure the loan as it provides a low internet rate and due to collateral they also makes the duration of the loan length.
Television is represented as collateral so ABC company cannot perfect its interest so due to this reason Dennis refuses to return television to the company. Collateral is known as the secured loan and it is used by the following ways:
- Purchasing personal assets
- Vehicles
- Investment purpose
- Paychecks
Therefore, Option (F) is correct answer.
Answer:
Explanation:
there is one equation which accounting is based
Assets = Equity+Liability
Opening Assets = Opening Equity+Opening Laibility
25000 = 16000+9000
9000 is the balancing figure because at that amount equation will be telly
Closing Equation as follows
Closing Assets = Closing Equity+Closing Laiblity
? = 21000+9000 opening + 8000 increase
? = 21000+17000
Closing Assets should be = 38000
Total Assets At closing Date 38000
Answer: a) The court found that the advertisements were not inherently misleading. However, it did find that regulating the advertisement in question was more extensive than necessary to protect the public interest.
Explanation: An advertisement is a notice or action promoting a product or service and soliciting patronage.
When there is no regulation of an advert, abuse is expected. Protecting the public interest is important as advertisement may be misleading if there are no extensive rules.
In a situation whereby the mechanics advertisement was found not to be inherently misleading, a different verdict may have been given.