Answer:
We should discontinue Product B
Explanation:
We should check if Product B generates a contribution or not:
We subtract from the sales revenues the variable cost:
revenue 39,500
variable cost of goods sold (25,500)
variable selling expenses <u> (16,500) </u>
Contribution (2,500)
<em>As the contribution is negative, we should discontinue </em>Product B as is less expensevely to stop production than continue.
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The probability of event B given that event A has already occurred is known as a CONDITIONAL PROBABILITY.
Conditional probability is written mathematically as: P[B/A], where P stands for probability.
Event A and B can be dependent or independent and this will have effect on the general formula of conditional probability, that is, the formula will change in form depending on the relationship between the two events.
Answer:
1. Going concern
2. Economic entity
3. Monetary unit
4. Periodicitys
Explanation:
1. Since Jumbo's Restaurant is planning to close, the assumption of continuity (going concern) is no more applicable. This should be disclosed. Instead asset was still recorded at historical price which is misleading.
2. Gorloks Tax Services is an economic entity, and the property and assets of owners are not considered to be for the business. In this case the boat Sam bought was wrongly reported as an asset of the company.
3. Claim Jumpers when reporting the 5 trucks purchased must include a monetary value for them. The assumption of monetary unit states that all items reported on the balance sheet must be expressed in monetary terms.
4. Cobbler's Etc violated the assumption of periodicity which states the financial position of the business must be declared in a particular accounting period. Accounting period can monthly, quarterly, biannually, and yearly. The business should choose and accounting period and ensure financial position is reported for each of them. In this case financial reporting is not consistent with reporting happening after 14 months and before that 18 months.
Answer:
B
Explanation:
the knowledge.. between a Bachelor degree and an associate degree. is leser
