Answer:
The answer is D. balance sheet as a current liability
Explanation:
Unearned fee is the amount that has been collected before rendering a service. For example, a customer paid in advance for goods that have been delivered, a football season ticket holder. The full service has not been rendered. So it is recognized as a liability because the customer can terminate the contract anytime.
As the service is being rendered, maybe monthly, quarterly or weekly, revenue is recognized and unearned fee decreases.
For example, a customer paid a $12,000 on Jan 1. for monthly delivery of magazine for a year. Here, the customer paid for a service that last till Dec 31st.
What will be recognized as revenue monthly is $1,000($12,000/12months) and unearned revenue too decrease by $1,000 monthly
Answer:
A. 2 to 5 percent of sales
Explanation:
According to the text, management contracts usually stipulate that a fee of 2 to 5 percent of sales be paid to the firm providing the management expertise.
Answer:
D. Sandals
Explanation:
Sandals aren't a preferred clothing item when going into a workplace, it's more informal than the other options provided.
Answer:
This statement is False
Explanation:
Operational inefficiencies do not occur because accounts unique to many concurrent transactions need to be updated in real time. There are many reasons for operational inefficiencies occur as a result of factors such as improper planning, poor scheduling, poor supervision and quality control, and other factors.
Answer: Option B
Explanation: In simple words, it refers to a tax structure in which the tax payer is charged as per his or her ability to pay. Under this system , a lower tax bracket is applied for low income levels and high for high income levels.
The basic assumption for applying such structure is that the high class have earned that money from the resources of the lower class thus they have to give a higher share from their income so that the lower class could be developed from that money.
