Answer:
a. Cash basis - Service revenue is $900
b. Accrual basis - Service revenue is $2,100 (which is $1200 + $900)
Explanation:
In accounting, there are 2 basis for recognizing transactions; these are cash basis and accrual basis.
In cash basis, sales and expenses are not recorded unless cash has been collected and paid respectively. In the accrual basis of accounting, expenses and sales are recorded when incurred and earned respectively.
Revenue earned under the accrual basis would therefore include the revenue for which cash has been collected and those for which cash is yet to be collected.
Answer:
b. a specialty store.
Explanation:
A specialty store. -
It is a type of retail business , which focus on certain goods and services , is known as a speciality store .
These type of company are expert in making a certain goods or services .
For example ,
The store that are designed specifically for men clothing or women clothing or specific for toys , cosmetics etc .
Hence , from the question , the correct term according to the given information of the question is a specialty store .
Answer:No, Because the signed agreement was for previous violations, it does not cover future violations.
Explanation: Trademarks are intellectual property rights that is represented by appropriate signs, pictures etc signifying that the owner of the product has the right to the trade if certain types of product or products.
Trademark are legally approved rights that any violations can lead to severe consequences based on the enabling laws as enshrined in the constitution of a country.
Answer:
The correct answer is letter "B": market opportunity.
Explanation:
A market opportunity represents an external factor -typically a problem- that potentially could create a business opportunity for a company. In some cases, the market opportunity pushes firms to innovate in products tailor-made to cover the need in question or to adapt an existing product to that need.
Answer:
<u>When making an outline, it is a good practice to:</u>
- Put the main idea in the title
- Have one main topic that does not relate to the title
- Strive for 3-5 major components
- Move single sub point to larger groups
- Allow sub points to overlap.
- Combine sub points whenever possible
