Answer and Explanation:
The Preparation of balance sheet is shown below:-
Balance Sheet
Current liability
Long term debt of Current portion $40,100,000
Long term liability
Notes payable $31,900,000
($40,100,000 - $8,200,000)
Total liabilities $72,000,000
So, to reach the total liabilities we simply add the long term debt of current portion with notes payable.
Answer:
B. a computer technician has installed the latest software updates, but you have not received an invoice or made payment
Explanation:
An accrued expense arises when a service has been rendered to an individual or organisation but to which the recipient of the service has not made payment for the service. The expense will be recognized in the period in which the service is rendered. In this scenario, the technician has rendered a service by installing software updates but the organisation has not made payment for the service provided. This represents an accrued expense.
Answer:
During the initiation phase, what does project selection help to do?
The initiation phase entails the starting point of the project, project selection comes in after the scope, objectives and how it would be delivered has been defined thoroughly. Project selection helps to make decision to know when the project would be ready for delivery, also the format of execution would be known, furthermore, any deviation from the initiation would be detected early and corrected if there is any
Explanation:
Considering the situation described above, it is concluded that Korea is a <u>High context</u> culture, and the U.S. is a <u>low-context</u> culture.
A high context culture is a type of culture that is characterized by collectivism and an implicit form of communication.
On the other hand, a low context culture is a type of culture that is associated with direct verbal interaction and individualism.
It is no secret that the United States promotes individualism or independence as a society which is a form of low context culture. In contrast, the Korean culture promotes stability and group relation, which is a form of high context culture.
Hence, in this case, it is concluded that Korea has high context culture while the United States has a low-context culture.
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