Answer:
B. a temporary endeavor undertaken to create a unique product, service, or result reducing the time it takes to perform certain activities
Explanation:
According to PMI, a project is a temporary endeavor undertaken to create a unique product, service, or result." Unlike other business activities, a project has a clear starting point and ending point, after which the people and resources dedicated to the project are reassigned. PMI is a project management association, which develops a standard for project, program, people, organization, etc. Also, they provide world- recognized certification.
Answer:
B. $183,000
Explanation:
Calculation to determine The amount of cash that will be collected in July is budgeted to be
Budgeted collection in July = July sales (190,000*35%) + June sales (210,000*45%) + May sales (110,000*20%)
Budgeted collection in July =$66,500 +$94,500 + $22,000
Budgeted collection in July=$183,000
Therefore The amount of cash that will be collected in July is budgeted to be $183,000
Answer:
C) there was an offer, acceptance, and consideration
Explanation:
The doctrine of promissory estoppel requires that the following 5 elements must exist:
- The parties must anticipate that some type of legal relationship will exist between them.
- One party must have made a promise to another party.
- One party must rely on the promise made by the other party.
- The party that relied on the promise made by the other party must suffer a detriment if the promise is not fulfilled.
- Unconscionability
, in other words, there is nothing that forbids the party from performing the promise.
<span>Businesses Management and Administration</span>
Answer:
August 2 Notes Receivable 8000 Dr
Accounts Receivable- Ryan 8000 Cr
October 30 Interest receivable 220 Dr
Interest Revenue 220 Cr
October 31 Cash 8220 Dr
Notes Receivable 8000 Cr
Interest Receivable 220 Cr
Explanation:
When we receive the Note against the Accounts Receivable, we will credit the Accounts Receivable to close the account of Ryan and create a new current asset account of Notes Receivable on August 2.
On October 30, 90 days period of Note is complete so we will record the interest that is receivable for us on this note.
- Interest Receivable = 8000 * 11% * 90/360 = $220
We record this as Interest Receivable as we have not received this and credit Interest revenue as it is our income.
On 31 October, when we receive cash it will be total of Notes payable and Interest so we will debit cash by 8220 and credit the Notes payable and interest receivable.
