Answer:
c)accrual basis accounting
Explanation:
Accruals basis accounting (accruals accounting, the matching concept) depicts the effects of transactions and other events and circumstances on a reporting entity’s economic resources and claims in the periods in which those effects occur, even if the resulting cash receipts or payments occur in a different period.
In accrual basis accounting:
Revenue from sales and other income should be reported in the period when the income arises (which might not be the same as the period when the cash is received from the customer / client).
The cost of sales in the statement of comprehensive income must be matched with the sales. Income and ‘matching’ expenses must be reported in the same financial period. In other words, when the revenue is recognised from sale then the cost must also be recognised in the similar accounting period.
Other expenses should be charged in the period to which they relate, not the period in which they are paid for.
So based on the above discussion, the answer is c)accrual basis accounting
Because accrued expenses represent a company's obligation to make future cash payments, they are shown on a company's balance sheet as current liabilities.
The stylist would win. The contract modification is enforceable because it is supported by additional consideration for both parties--Sally gets the highlights that had not been included in the original contract for the cut, and the stylist gets the additional money.
Answer:
A)Tax preparation
Explanation:
Gross domestic product is the sum total of all goods and services produced by a country within a given period.
Goods are tangible products that are produced by the country and in this scenario includes photographs, reclining chairs, and photographs.
Services on the other hand are those intangible actions that produce value to the end user. An example of service is tax preparation.
If an individual requires his taxes to be prepared but does not have the skill to do it. They will hire someone to do it and pay for the service.
Answer:
total cost = $22
Explanation:
given data
assistant coach earn = $13 per hour
admission fee = $9
solution
we get here total cost of skipping practice and going to the carnival is express as
total cost = assistant coach earning + admission fee .....................1
because here he losses a hour in work and additionally spending in carnival
so now put here value in equation 1 we get
total cost = $13 + $9
total cost = $22