Complete question:
Identify the account concept,assumption, or principal that best applies to each of the following situations:
Burger King, the restaurant chain, sold a store location to McDonald's. How can Burger King determine the sale price of the store - by a professional appraisal, Burger King cost, or the amount actually received from the sale?
Answer:
Historical cost principle
Explanation:
The initial nominal financial value of the commodity is the average expense of a commercial object. The cost estimate is traditionally focused on recording assets at their nominal expense, which are not adjusted to adjust the costs of the products.
The original nominal financial value of the commodity is the average expense of a commercial object. The cost estimate is traditionally focused on recording assets at their nominal expense, which are not adjusted to adjust the costs of the products.
<u>Answer:</u>
<em>I will teach my best friend to help them reduce their communication apprehension through (C) Deep breathing strategy</em>
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<u>Explanation:</u>
Communication apprehension is the extended-term that alludes to a person's "dread or tension related to either genuine or foreseen correspondence with someone else or people talking with nervousness is a normal response. Great speakers can get apprehensive like the poor speakers.
The psychological threat people see in the correspondence circumstance prompts physiological changes intended to enable the body to react. These physical responses to make the awkward sentiments of unease called discourse tension and may incorporate sweat-soaked palms, shaking, butterflies in the stomach, and dry mouth.
Answer:
B. Cash, accounts receivable, inventories, prepaid items.
Explanation:
In the balance sheet, assets are presented in an orderly manner guided by the amount of time they take to convert into cash. Assets requiring the shortest time to convert into cash will appear first. Cash will always be on top as it does not require conversion.
Goodwill comes last as the business will have to be sold for it to turn into cash.
- In the list provided, cash will appear first.
- Accounts receivable is money a business expects to receive from customers for goods or services provided. In practice, the money should be received within 60 days
- Inventories in assets refer to finished goods in the store. They are awaiting sales. Inventories will take longer as stocks have to be sold and become account receivable before converting to cash.
- Prepaid items are expenses paid before their due date. They appear in the balance sheet as cash assets because they have not been consumed. The expectation is that they will be utilized within the current year. Converting into cash them will require getting a refund from the recipient of the funds, which could be a lengthy process.
As prosperity and economic development rise, individualism increases as well.
Individualism refers to the freedom of someones actions. If the economy is doing well and someone has more money, they are more likely to spend their money freely. The person has moral worth as an individual.
