People do go on vacation. Why this result in disciplinary action is that DBPR needs access to inspect records during regular business hours and he would risk disciplinary action if they wanted to see his records while he was away.
<h3>What is a Florida DBPR license?</h3>
The Department of Business and Professional Regulation (DBPR) is known to be a regulatory agency responsible with the licensing and monitoring of businesses and professionals in the State of Florida.
Since Harry is away, DBPR may needs access to inspect records during regular business hours and he would risk disciplinary action if they wanted to see his records while he was away.
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DBPR needs access to inspect records during regular business hours and he would risk disciplinary action if they wanted to see his records while he was away.
The storage unit might catch fire and no-one would be able to rescue the documents.
FREC only gives 24 hours notice to inspect records and he would be fined if they could not gain access to them.
There is not a problem since his Admin Assistant is good at taking messages and would make an appointment for them to come back when he has returned.
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Answer:
Raise reserve requirements
<h3>
Explanation:</h3>
- Due to the increased reserve requirements, the money supply decreased causing an economic downturn.
- An economic downturn is a situation in which negative economic growth is seen.
- This problem can turn severe very fast and can then lead to depression in the economy.
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Answer:
c) $1,500,000
Explanation:
Typically inventory for $3,000,000 will last for 30 days. The current order will be depleted by the 15th, which is half of 30 days. You require inventory to run for another 15 days. The inventory required will be half or $3,000,000
=$3,000,000 /2
=$1,500,000
Answer:
C. Debit Unearned Rent Revenue, $4740; Credit Rent Revenue, $4740.
Explanation:
When money is collected in advance for service yet to be rendered, we credit unearned revenue and debit cash. As the service becomes rendered, we debit unearned revenue with the amount earned and credit revenue.
Since the money was received on 1 July and the Financial statements will be prepared on July 31, by the date of the preparation, the company has earned 1 month rent. This rent is equivalent to
= $28440/6
= $4760
Hence the adjusting entry on July 31 will be
C. Debit Unearned Rent Revenue, $4740; Credit Rent Revenue, $4740.
Answer:
1. Assets
2. Liabilities
3. Stockholders' Equity
Explanation:
1. Assets: The main component of the balance sheet is "Assets". Asset is a resource which has an economic value to generate income for an individual or an organization. There are current assets (cash, accounts receivables, inventory) that help to operate day to day activities and non-current assets (buildings, land, equipment, patent, goodwill) that provide future benefits.
2. Liabilities: Apart from assets, the company has some debt to pay off before providing the benefits to the stockholders'. It is called Liability. There are two types of liabilities; Current and long-term.
3. Stockholders' Equity: After paying off the liabilities, when all the economic resources and benefits are distributed to the company's owner, it is called stockholders' equity.
These are the three crucial components of a balance sheet.