Answer:
$882,000
Explanation:
According to IAS 37, Provisions, contingent liability and contingent assets, A provision is a liability of uncertain timing or amount. The liability may be a legal obligation or a constructive obligation.
An entity recognises a provision if it is probable that an outflow of cash or other economic resources will be required to settle the provision. Furthermore, the standard requires that a provision is measured at the amount that the entity would rationally pay to settle the obligation at the end of the reporting period or to transfer it to a third party at that time.
The amount to be accrued for is the settlement offer of $882,000 which was accepted before the financial statement was issued. This settles the uncertainty in the amount to be provided for.
Answer:
a 10
Explanation:
The formula to compute the future value is shown below
Future value = Present value × (1 + rate of interest)^number of years
where,
The Rate of interest is 10%
And, the number of years or term is 10 years
Therefore as per the given situation, the correct option is a.
hence, the same is to be considered
Answer:
<u><em>The correct answer is: </em></u> Pro-market policies mean businesses can earn profit and loss; pro-business policies means businesses only make profit.
Explanation:
Pro-market policies are those that establish norms that help the free market to operate in balance, without any kind of benefit in favor of a specific company, in this way it benefits both companies and consumers, therefore it sets up in a normal market situation where companies cannot make profits and losses.
In a pro-business policies, the government offers advantages to specific companies to increase profitability, such as tax incentives, privileges, etc.
Sales account is least likely to have a subsidiary ledger, so the correct answer is (a).
All sales transactions are documented in a sales account. Both credit and cash sales are included in this. The net sales amount that appears at the forefront of the income statement is determined by adding the account total to the sales returns and allowances accounts. A current client could also be referred as a sales account. A customer becomes a marketing account once a sale has been made to them. In order to arrive at a number referred to as net sales, the achieve business is typically merged with the returns and allowances account.
Learn more about sales account here:
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