Answer:
OR
Explanation:
The Microsoft Excel OR function returns TRUE if any of the conditions are TRUE. Otherwise, it returns FALSE. The OR function is a built-in function in Excel that is categorized as a Logical Function
Answer:
False
Explanation:
If a firm sells on terms of 2/10, net 30 days, and its DSO is 28 days, then the fact that the 28-day DSO is less than the 30-day credit period tell us that the credit department is functioning efficiently and there are no past due accounts. This is a false statement.
Answer: not affecting the manager's bonus
Explanation:
Under Variable costing, fixed manufacturing overhead is not charged on inventories produced or not sold for the year which means that regardless of inventory level, the relevant inventory here when it comes to calculating operating profit is the one that was sold.
The manager's bonus will therefore not change as a result of higher inventory levels. Were this absorption costing where fixed overhead was charged to inventory that was not sold, the manager's bonus would increase because the higher inventory level would absorb more of the cost.
Answer:
$30,000 and $360,000
Explanation:
The computation of the gain on the exchange is shown below:
= Cash received + fair value of the computer - undepreciated cost of existing computer
= $120,000 + $360,000 - $450,000
= $30,000
The amount of the computer which is recorded will equal to the fair value of the computer i.e $360,000
For computing the gain we simply added the fair value and deduct the undepreciated cost of an existing computer in the cash received amount so that the accurate amount can come.
All other information which is given is not relevant. Hence, ignored it
Answer:
Balance sheet is the correct answer because it tells about the worth of company, its assets, shareholders funds (Equity) and amount borrowed by the company (Liability). Balance sheet is also known as Statement of Financial Position (SOFP)
All the other options tells about the earnings and costs of the company not about the assets and liabilities of the company.
