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zloy xaker [14]
3 years ago
12

​which one of these is a correct definition? ​current liabilities are debts that must be repaid in 18 months or less. ​current a

ssets are assets with short lives, such as inventory. ​long-term debt is defined as a residual claim on a firm's assets. ​tangible assets are fixed assets such as patents. ​net working capital equals current assets plus current liabilities.
Business
1 answer:
8090 [49]3 years ago
8 0

Current liabilities are debts that must be repaid within a year.

Current assets are assets with short lives, but inventory is not considered a current asset at times, for example in the quick ratio, inventory is disregarded.

Long-term debts are those that can be paid after a year or more, and not whatever "residual claim" the question speaks of.

Tangible assets are assets which can be felt and have a physical form, but are not necessarily fixed assets.

Net working capital is current assets minus current liabilities.

'The only definiiton that seems correct is the current asset one, although they word it inappropriately.

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The primary difference between variable costing and absorption costing is
IgorLugansk [536]

Answer:

The correct answer is letter "D": in absorption​ costing, fixed manufacturing overhead is a product cost.

Explanation:

Absorption costing or full costing includes all costs related to the production process like the fixed costs. Variable costing, on the other hand, only includes the variable costs from the production. Absorption costing incorporates allocating fixed overhead costs of each unit produced during a certain period.

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Beginning merchandise inventory would be found on the worksheet in the
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<span>A. income statement debit column</span>
6 0
3 years ago
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Personal selling requires the ________ flow of communication between a buyer and a seller, often in a face-to-face encounter, de
Free_Kalibri [48]

Answer:

Two-way flow

Explanation:

Personal selling is one of the methods used by salespeople to drive sales. It involves face-to-face interaction with customers who are persuaded to purchase the product.

This method relies heavily on effective communication mostly the two-way flow of communication.

Two-way flow of communication means that when a message is conveyed to the customer there is feedback to the salesperson. The feedback is used to decide the best course of action to be taken in order to complete the transaction

7 0
3 years ago
Marc and Michelle are married and earned salaries this year of $64,000 and $12,000, respectively. In addition to their salaries,
stiks02 [169]

Answer:

I will use the 2020 tax schedule since recovery rebate credit applies to 2020:

Marc and Michelle's gross income = Marc's and Michelle's salaries + interest from corporate bonds = $64,000 + $12,000 + $500 = $76,500

they should choose the standard deduction since it is higher than their itemized deductions = ($24,400)

contribution to IRA = ($2,500)

<u>alimony payment = ($1,500) the divorce agreement was settled on 2005</u>

Marc and Michelle's taxable income = $48,100

Marc and Michelle's tax liability = $1,975 + [12% x ($48,100 - $19,750)] = $5,377

Interests on municipal bonds is not taxable.

The amount of taxes that they owe = $5,377 - $3,500 (federal tax withholdings) = $1,877

Refundable tax credits:

$2,000 in child tax credit

<u>$2,900 in recovery rebate credit</u>

total = $4,900

taxes payable or refund = tax liability - refundable tax credits = $1,877 - $4,900 = -$3,023.

Marc and Michelle should get a refund for $3,023

4 0
3 years ago
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