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madam [21]
4 years ago
5

For the price list, why are they converted as percentages?

Business
1 answer:
finlep [7]4 years ago
4 0

Answer:

There are numerous situations where you might need to add a percentage to a listed price. Figuring tax is probably the most common, but other fees, such as shipping or handling, may also be based on a percent of the list price. The calculation is carried out with some straightforward arithmetic.

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Indicate the accounting concepts, principles, or constraints that underlie each of the following independent situations: account
Sholpan [36]

Answer:

Accounting entity concept:

The basic idea behind this concept is that business and the owner are two different entities. Their transactions are to be recorded separately.

Going concern concept:

The concept is to have a view that the company is going to stay solvent in the future. That is we will have another accounting year in the future unless and otherwise we have evidence to the contrary.

Cost-benefit constraint:

It limits the amount of time to research the cost of an event if its benefits outweighs. In case of an immaterial event if its cost outweighs the benefits then that event can be forgone.

Expense recognition (matching principle):

The matching principle states that all the expenses are to be recorded based on the year they have been  incurred rather than on the time they are paid.

Materiality constraint:

It states that any event that changes or effects the decision making of the user of financial statement should be recorded and vice versa.

Revenue recognition principle:

It states that the revenue is to be recorded in the period in which it has been incurred instead when it is collected. Accrual basis gives a more clear picture of the performance of the company.

Full disclosure principle:

It requires to disclose any information to be mentioned in the foot notes of the financial statements of the company that might affect the user of financial statement. This helps in identifying the methods used for accounting practices and any event that might effect the organisations future existence.

Cost principle:

To record the transactions based on their historical costs rather than making adjustments for fluctuations in market place.

7 0
4 years ago
Service products cannot generally be produced in ________or __________. Services are typically _________________________________
steposvetlana [31]

Answer:

Service products cannot generally be produced in advance or stored.

Services are typically variable, and in almost every service offering, the service cannot start until the customer arrives and actively participates.

Explanation:

Services have distinguishing characteristics that differentiate them  from goods.

To start with, services cannot be produced in advance as production and consumption happen at the same time.

Also,the customer must be present and actively contributes to the delivery of the service, for instance, haircut cannot happen except the customer comes to the salon and obeys the instructions of the barber as they go along.

Besides,there is no physical substance in service unlike purchase of goods.

4 0
3 years ago
A city starts a solid waste landfill during 2020. When the landfill was opened the city estimated that it would fill to capacity
telo118 [61]

Answer:

Explanation:

Solution:

a) At the end of 2020, facility is 20% full so the 300,000 would be regarded as expenses

Therefore, in the balance sheet, at the end of 2020, 300,000 would be shown as liability.

b) In the financial statements for 2012, 300,000 would be shown as expense and 300,000 would be shown as liability.

6 0
3 years ago
What evidence demonstrating your own leadership development have you gathered so far? (please list)
victus00 [196]

Answer:

The evidence that shows my own leadership development is:

  • Communication capacity
  • Organization
  • Calm and rationality
  • proactivity
  • ability to work as a team.

Explanation:

Although there is still a long way to go for me to consider that I have a strong leadership spirit, I can consider some evidences in my personality and my abilities that announce that I have developed as a leader. Among these evidences I can mention my ability to communicate with people, explaining concepts and attitudes that we must have to reach our goals. This is linked to my ability to work as a team, managing it to success.

They are also a calm and rational person, which shows that I will have good control in the face of difficulties that may arise, without forgetting that I am very proactive and organized, which will facilitate the work to be done.

6 0
3 years ago
The jackson family is undecided about whether or nara buy a new car of the
ICE Princess25 [194]

The question is incomplete. The complete question is :

The Jackson family is undecided about whether or not to buy a new car. If the probability is .9 that they will buy one, and if the probability is .3 that they will buy a Ford, and if the probability is .4 that they will purchase a car getting more than 20 miles per gallon, what is the probability that they will buy either a car getting more than 20 miles per gallon or a Ford, if all Fords get more than 20 miles per gallon?

Solution :

Given that :

The probability of buying a new car,  P(NC) = 0.9

Probability of buying Ford = 0.3

That is, if Jackson family buy a car that is a ford car, $P(F) = 0.9 \times 0.3$

                                                                                                = 0.27

The probability for getting more than 20 miles per gallon = 0.4

That is if Jackson family buy a car that have more than 20 miles per gallon mileage, $P(20) = 0. 9 \times0.4=0.36$

The conditions

All of the car have more than 20 miles per gallon mileage.

It means that buying a ford car is subset of getting more than 20 miles per gallon.

$P(20 \text{ miles per gallon}\ \cap \ \text{Ford})=P(F)$

Therefore, the probability of buying a car either getting more than 20 miles per gallon or ford = $P(20 \text{ miles per gallon}\ \cup \ \text{Ford})$

Therefore,

$P(20 \text{ miles per gallon}\ \cup \ \text{Ford})=P(20) + P(F) - P(20 \text{ miles per gallon }\cap \ \text{Ford})$

$P(20 \text{ miles per gallon}\ \cup \ \text{Ford})=P(20) + P(F) - P(F)$

$P(20 \text{ miles per gallon}\ \cup \ \text{Ford})=P(20) $

                                                = 0.36

Thus the probability that Jackson family is buying a car either getting more than 20 miles per gallon or ford is 0.36

3 0
3 years ago
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