Answer:
B. Going-concern assumption.
Explanation:
The financial statements are normally prepared on the assumption that an entity is a going concern and will continue in operation for a foreseeable future. Hence, It is assumed that the entity has neither the intention nor the need to liquidate or curtail materially the scale of its operations. If such an intention or need exists, the financial statements have to be prepared on different a basis and , if so , the basis used is disclosed.
Answer:
2. 36.000
Explanation:
Bath Towel Hand Towel Washcloth
Price Each Towel = $10 $5 $2.50
-Variable cost = <u>$4</u> <u>$2</u> <u>$1.00</u>
=Contribution Margin = $6 $3 $1.50
Sales Ratio = 4 : 3 : 2 = 9
Contribution per batch= $24 $9 $3 = $36
Fixed Cost = $324,000
Break-even Point (Batches) = Fixed Cost / Total Contribution per batch
Break-even Point (Batches) = $324,000 / $36 = 9000 Batches
Sale of Bath Towel at break even = 4 x 9,000 = 36,000 units
Answer:B. Teddy's agreement with Andrea and Cami, only.
Explanation:
Consideration is anything of value that moves from both parties to a contract, it must equally be specific and devoid of ambiguity.
The agreement with Andrea and Camil both meet these requirements. However the agreement with Lorne is not devoid of ambiguity because we are not sure of the amount of his consideration.
Being "self-employed" means that your <span>working for yourself as a freelancer or your the owner of a business rather than being an employee.
Most people are self-employed because they have their own ideas and dreams that they want to create without being held back by a boss or manager. Others a self-employed simply because they don't like the idea of working for someone else.</span>
