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3 years ago

True/False

Business

1 answer:

alexgriva [62]3 years ago

3 0

Answer:

True

Explanation:

Revenue accounts are accounts were entries of the sales of products as well as the revenue generated by firm or company are properly recorded.

Expense accounts are accounts where that show us the expenses generated by a firm or company. Such expenses are the things the company spends money on which could be purchase of raw materials, payment of labour, repairs of machineries e.t.c.

An accounting period is a duration of time where accounts in a firm or company are balanced and closed for that period.

Revenue and expense accounts must be closed out because their balances apply to only one accounting

period.

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Claudine Corporation will deposit $5,700 into a money market sinking fund at the end of each year for the next five years. How m

valkas [14]

Answer:

Accumulated amount at the end of the fifth year = $34,112.85

Explanation:

Sinking Fund involves saving an series of equal amount periodically invested at certain rate of interest to accumulate a target amount in the future. The target amount might be for the purpose of financing a specific capital project or loan repayment.

Where an equal deposit is invested the sum accumulated (deposit plus interest earned) at the end of the final period is known as the Future Value (FV) of the sinking fund.

The FV is determined as follows:

FV = A × ((1+r)^(n) - 1)/n)

where FV- future value, A- annual cash flow, r-rate of return, n- number of years.

<em>In this question, we have the details as follows</em>;

FV-?, A-5,700, r- 9%, n- 5

<em>So we can determine the FV;</em>

FV = 5,700 × ((1+0.09)^(5)- 1)/0.09

FV = 5,700 × 5.9847

FV = 34,112.85

Accumulated amount at the end of the fifth year = $34,112.85

8 0

3 years ago

A member of the board who is a top executive of the firm is called a(n) _____. a. co-manager b. inside director c. outside direc

stira [4]

Answer:

B) inside director

Explanation:

An inside director is a member of the board of directors that is also an employee of the company. Usually inside directors should be part of the top management of the company, but in some particular cases that may not apply (e.g. in European cooperatives unions are represented by one member in the board).

It doesn't matter if the directors are inside or outside directors (don't work in the company), they all have a duty of care to the company.

3 0

3 years ago

Derived demand is demand: Group of answer choices

Aleks [24]

Answer:

C) linked to the production and sale of some other item.

Explanation:

• Derived demand is an economic term describing the demand for a good/service resulting from the demand for an intermediate or related good/service.

• Derived demand is solely related to the demand placed on a good or service for its ability to acquire or produce another good or service.

• The principles behind derived demand work in both directions; if the demand for a good decrease, the demand for the goods required to produce the item will also decrease.

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3 years ago

Equivalent-unit calculations are necessary to allocate manufacturing costs between: Multiple Choice cost of goods manufactured a

HACTEHA [7]

Answer:

units completed and ending work in process.

Explanation:

Process costing can be defined as a cost accounting method used for assigning manufacturing or production costs to the units of goods produced by a business firm over a specific period of time. It is mostly used by firms that produce a large quantity of homogeneous or similar products on a continuous basis. Process costing typically uses more than one Work in Process Inventory account because costing at each stage of production or manufacturing process.

Basically, when manufacturing overhead costs of a business firm or company are applied to the cost of production in a process costing system, they are debited to the Work-in-Process inventory account.

In the manufacturing process, partially or partly completed goods that are still in the process of being converted into a finish product are defined as work-in-process inventories.

Generally, the work-in-process inventories include the following raw materials cost, direct labor cost and factory overhead cost.

The equivalent-unit calculations is done by multiplying the number of partially completed physical goods by the percentage of completion.

Hence, equivalent-unit calculations are necessary to allocate manufacturing costs between units completed and ending work in process.

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2 years ago

from a marginal analysis perspective, what is the inventory carry cost for andrews if the company carries one additional unit of

ryzh [129]

Inventory carrying cost means total expenses incurred while storing an unsold good.

<h3>What is Inventory carry cost?</h3>

Basically, an Inventory carry cost means the total holding cost for holding an inventory which includes the cost of capital, warehousing, depreciation, insurance, taxation, obsolescence, opportunity cost.

In other word, the Inventory carrying cost means the total expenses incurred while storing an unsold good.

Read more about Inventory carrying cost

<em>brainly.com/question/25817334</em>

6 0

1 year ago