Answer:
recognize a liability and an expense in its financial statements.
Explanation:
Contingent liability refers to a liability that arises in some unpredictable future event. In this, the amount is expected or predicted.
Here in the question the actual occurrence would be categorized also its amount would be predicted so the same is to be recorded as a liability and recorded as an expense in the financial statement i.e. balance sheet & income statement
Answer:
Using the gross profit method, the cost of goods sold would be:
$42,500
Explanation:
Gross margin ratio of the company is 15%. Refer the formula:
Gross margin = Gross profit/Revenue (or net sales)
= (Net sales- Cost of good sold)/Net sales
Using the gross profit method and from the formula,
Cost of good sold = Net sales - Net sales x Gross margin
= Net sales x (1 - Gross margin)
= $50,000 x (1-0.15) = $50,000 x 0.85 = $42,500
Probably swimming unless for photography you use a cheap camera :p
It really just depends how you look at it
Which of the following does <em>Not</em> Apply to the field.
Please put all the questions asked but if this is computer applications then the answer is.
APEX! It is made up of several records
Answer:
Group buying platform
Explanation:
Group buying platform is also known as collective buying and is when the prices of goods and services are significantly reduced on the condition that a minimum number of buyers make purchase.
Usually there is a deal of the day displayed that is activated when the minimum number of buyers has been reached.
In this scenario Buyline has a promotional offer where buyers get a 60 percent discount on refrigerators if a minimum of 100 buyers agree to buy the product within 24 hours of the offer being announced.
This is a group buying platform
