Answer:
Revenue - March = $160
Explanation:
The accrual principle in accounting states that the revenues for a period should match the expenses for that particular period and any revenue or expense should be recorded in the period to which it relates to. This means that the upfront fee received by Fit Co. is a liability and should not be recorded as a revenue until it is earned. So, by providing two sessions in the month of March, Fit Co. has earned revenue for 2 sessions out of the twelve. Thus, at the end of March, Fit Co. should record a revenue of,
Revenue - march = 960 * 2/12 = $160
Answer:
A)A sports team t-shirt:(Rivalrous and Excludable)
B)The air we breath (Nonrivalrous and nonexcludable)
C)Atlantic Bluefin Tuna in the Mediterranean Sea:(Rivalrous and nonexcludable)
D)A toll road in normal traffic:(Nonrivalrous and excludable)
Explanation:
Excludable goods can be regarded as goods whereby there is possibility of preventing consumers that has not paid for that good from accessing it.
Rivalrous goods are types of goods that can only be occupied by a person
there is competition created for their consumption.
Non-excludable goods can be regarded as public goods they are one
which are commonly available within a society for all people. These goods cannot be excluded from certain person.
Non-rivalrous goods can be regarded as public goods whereby the supply of that goods is not affected by consumption of people.
Answer:
limited liability company
Explanation:
A limited liability company (LLC) can be regarded as a business structure that is very common in the United States, these business structure can be regarded as a one in which the owners can not be regarded as been personally liable for debts as well as the liabilities of the company. Limited liability companies can be regarded as hybrid entities which is the combination of the features of corporation s well as partnership
