Markets provide the efficient amount of a good or service when <span>externalities and public goods are absent.
Externalities in this case refers to an unpredictable occurence such as natural disasters, and public goods refers to the goods that given from the government for lower or higher than the market price</span>
Answer:
b. Roma and Taylor
Explanation:
In this case each attorney is liable for his negligence, so Taylor will be liable for not appearing in court .
Roma is his supervisor, and he will also be liable because he is responsible for Taylor's performance.
The other attorneys in the firm will not be liable, because there is personal liability. When they are not directly involved in negligence, they will not be liable to Umberto.
Answer: B. Individual ledger accounts
Explanation:
just took the test
Answer:
Debit Bad Debts Expense $12,475
Credit Allowance for Doubtful Accounts $12,475
Explanation:
Calculation for estimated bad debts expense:
Explanation
Accounts receivable * Sales uncollectible
$445,000×0.025
=11,125
Hence:
11,125 +Allowance for Doubtful Accounts 1,350
=$12,475
Therefore the estimated bad debt will be:
Debit Bad Debts Expense $12,475
Credit Allowance for Doubtful Accounts $12,475
