Answer:
a. True
Explanation:
ABC classification scheme refers to item analysis that is based upon the principle that there are many less critical items and few critical items by dividing on-hand inventory into three classes which is generally based upon annual dollar volume as follows:
"A items" have very tight control and accurate records
"B items" does not have a tight control and good records
"C items" have minimal records, periodic review, and and characterized by simple controls.
From the above explanation, it is therefore <u>true</u> that periodic review systems are best suited for the C category of items under the ABC classification scheme.
The answer is : Olygopoly
In Olygopoly, the market will be dominated by a small amount of sellers. This will make it harder for the customers to find the products that they want and give the sellers a power to influence the price with a really low risk.
For example, only a few companies in china that have the power to distribute original Apple's product. This will make that companies able to increase the price above average market since the Chinese couldn't get it anywhere else.
Answer:
Adjusting entry
No Account & Explanation Debit Credit
a) Supplies Expense $637
(245+735-343)
Supplies $637
(To record supplies adjusted)
b) Interest expense $170
Interest payable $170
(To record accrued interest)
c) Wages and salaries expense $5350
Wages & salaries payable $5350
(To record wages and salaries expense)
d) Unearned fees $27600
(46000*60%)
Fees earned $27600
(To record fees earned)
e) Account receivable $5700
Fees earned $5700
(To record fees earned)
Answer:
the answer is B income increases, the percentage of tax paid increases.
