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horsena [70]
3 years ago
6

Lew owns five activities, and he elects not to group them together as a single activity under the "appropriate economic unit" st

andard. During the year, he participates for 120 hours in Activity A, 150 hours in Activity B, 140 hours in Activity C, 110 hours in Activity D, and 100 hours in Activity E. Which of the following statements is correct?a. Activities A, B, C, D, and E are all significant participation activities.b. Lew is a material participant in Activities A, B, C, and D only.c. Lew is a material participant in Activities A, B, C, D, and E.d. None of the above.
Business
1 answer:
lys-0071 [83]3 years ago
6 0

Answer:

b. Lew is a material participant in Activities A, B, C and D only.

Explanation:

The correct answer is b. All the activities has material participation except for activity E. The activity is considered significant of the participation by an individual is more than 100 hours. here Lew has 5 activities A, B, C, D and E. All the activities comprise Lew's participation for more than 100 hours but only activity E has participation less than 100 hours. The total of activities A, B, C and D is 530 (120 + 150 + 140 + 110).

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In a statement of cash flows, interest payments to lenders and other creditors should be classified as cash outflows for a. oper
Sonbull [250]

Answer:

The correct answer is letter "A": operating activities.

Explanation:

Operating Activities are the daily processes conducted by a company to generate income. They pertain to the company's core business activity such as sales and manufacturing and they provide most of the cash flow that determines whether a business is profitable.

When it comes to the Financial Statements the situation is not different. Interest payments to lenders and other creditors can be part of the day to day activity of a company. That is the reason why they are recorded in the operating activities section.

3 0
4 years ago
Maxim manufactures a hamster food product called Green Health. Maxim currently has 10,000 bags of Green Health on hand. The vari
SVEN [57.7K]

Answer:

$6,655

Explanation:

Variable cost per bag = $3.70

Total fixed cost = $10,000

Unit selling price before further processing = $9.05

No of bags = 10,000

Contribution per bag = 9.05-3.7 = $5.35

Total revenue = 9.05*10,000= $90,500

Net income =90500-(10,000+37000 )= 43500

Incremental cost =2100

Incremental revenue( 10,000*8.05) + (3100*6.05)

80500 + 18755 = $99255

Net income  = 99255 - (2100+47000)= 50155

Financial advantage = 50155-43500=6655

5 0
3 years ago
The amount of materials to be purchased during the budget period is equal to budgeted: A. total production needs plus units in t
oee [108]

Answer:

. B). total production needs plus units in the ending materials inventory minus the units in the beginning materials inventory.

Explanation:

The budget period can be regarded as

period of time whereby one has the authority to spend the awarded funds in a way that meet the matching as well as the cost-sharing requirement. It should be noted that the amount of materials to be purchased during the budget period is equal to budgeted total production needs plus units in the ending materials inventory minus the units in the beginning materials inventory.

3 0
3 years ago
A signed document containing a written promise to pay a stated sum to a specified person/institution or the bearer at a specifie
AnnyKZ [126]

Answer:

Promissory Note.

Explanation:

A signed document containing a written promise to pay a stated sum to a specified person/institution or the bearer at a specified date is known as promissory note.

A promissory agreement can be defined as an evidence of a debt and as such involves the use of a legal financial tool such as a promissory note as a written promise to declare that a party (borrower) would pay another (lender) at a specific period of time.

3 0
3 years ago
Which student shows resilience in relation to his or her time-management plan? Group of answer choices Amber buys all of her boo
geniusboy [140]

The correct answer is C. Edgar arranges a meeting with his instructor after missing class due to illness.

Explanation:

Resilience is considered as the ability to recover from adverse events and adapt to changes. In terms of time-management, resilience implies using time efficiently despite unexpected or negative events. This ability is shown by Edgar because he dealt positively with a negative unexpected event, which was missing class due to illness, and he could manage time efficiently and adapt despite this event. Thus, the student that shows resilience is relation to time-management is Edgar.

8 0
3 years ago
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