Answer:
Option D Only amounts known with absolute certainty are reported
Explanation:
This is incorrect statement because International Accounting Standard IAS 37 Provisions, Contingent Liabilities and Contingent Assets sheds light on the recording of future events that will arise as a result of past events. The standard is useful in estimating future events so saying that the absolutely certain amounts are reported is incorrect.
Answer:
Insurable interest
Explanation:
The insurance interest is the interest of the insurer while taking the policy so that the risk of the loss is reduced also it is an important requirement that makes the firm or the event to be legal, valid, enforceable, and protected against any harmful acts done intentionally
Therefore according to the given situation, the concept in which enough interest must exist on the part of the insurer while taking the policy is known as the insurer interest
Hence, the first option is correct
Answer:
Idea generation.
Explanation:
The new product development process is a process of taking a product to the market. It is a part of product design. The process continues till the life cycle of product is over.
There are several stages of the new product development.
The stage in which the Apple company is, in the given scenario, is idea generation.
Idea generation is the first stage of the new product development. In this stage, the company seeks for ideas for creating or developing new products.
Therefore, idea generation is the correct answer.
When four infineon technologies executives participated in an international conspiracy to fix prices for computer memory chips, they were acting with other firms as a cartel.
Given an incomplete sentence related to infineon technologies.
We are required to fill the sentence by an appropriate term.
We can fill the sentence with "a cartel".
A cartel is basically a formal agreement among firms in an oligopolistic industry. Members of cartel may agree on such matters as prices, total industry output, market shares, allocation of customers, allocation of territories, bid-rigging, establishment of common sales agencies, and the division of profits or combination of these. It is basically a group of people who are collected to complete an objective.
Hence when four infineon technologies executives participated in an international conspiracy to fix prices for computer memory chips, they were acting with other firms as a cartel.
Learn more about cartel at brainly.com/question/12015868
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Answer:
A debit to Unearned Rent and a credit to Rent Earned for $2,400
Explanation:
When cash is collected in advance for revenue from lease, the revenue will not be recorded as revenue until the lease service has been performed. Hence the cash collected in advance will be recorded as
Debit Cash $6,400
Credit Deferred revenue $6,400
Being cash collected on October 1 for lease to run for 8 months.
Between October 1 and December 31 is 3 months.
Hence, amount earned
= $800 × 3
= $2,400
To recognize this amount, Debit Unearned/Deferred revenue, credit revenue with the amount earned.
