Answer:
The statement is false. The correct option is B.
Explanation:
The statement is false because the product warranties are those warranties which are provided at the time of sale of the product but they are not expensed in the account in the period when the product is sold as these warranties are claimed by the customer when they face any defect in the product so it is uncertain in which year this will happen. So, they will be expensed when the customer will claim the product warranty.
Therefore, the correct option is B.
Answer:
It should be $22.20
Explanation:
If you do 22 x 100 you get 2200 and add the $20. Then you divide 2220 by 100 and get $22.20.
Answer:
Only the petty cashier is responsible for paying cash from the fund.
Explanation:
A petty cash fund can be regarded as small amount of cash that is kept on hand or kept in a locked drawer which could be used in payment for minor expenses. These expenses could be office supplies expenses or reimbursements. There should be periodic reconciliations for a petty cash fund, and the transactions should also be recorded on the financial statements. As regards to petty cash fund used in a business, Only the petty cashier is responsible for paying cash from the fund.
Answer:
Cost per unit , with respect to material is AVERAGE VARIABLE COST [AVC]
Explanation:
Cost is the expenditure incurred on production.
It can be : Fixed , Variable . Fixed cost is expense on fixed factors (not change-able in short run) , eg machine plant & Variable cost is expense on vairable factors (change-able in short run) , eg raw materials , labour
Total Cost [TC] = Total Fixed Cost [TFC] + Total Variable Cost [TVC]
Average per unit - (Q) Cost : AC i.e [TC/Q] = AFC i.e [TFC/Q] + AVC i.e [TVC/Q]
So , out of total Average Cost , AVC denotes average cost per unit with respect to variable inputs ('materials' here)
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