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Over [174]
2 years ago
6

Which of the following refers to a set of rights to control a tangible or intangible thing?

Business
1 answer:
Lyrx [107]2 years ago
6 0

Answer:

a) Property

Explanation:

A property right is the exclusive or sole authority which determines the legal ownership of tangible and intangible resources and how these resources are to be used, whether by individuals or government.

Basically, properties can either be owned by the government, an individual or business entity. Some examples of a property include cars, land, houses, machines, books, inventions, mobile phones, ideas, birds, etc.

Hence, property rights refers to a set of rights to control a tangible or intangible thing.

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Lacey Company prepared the tabulation below at December 31, 2022. Net Income $310,000
valentinak56 [21]

Answer:

Net cash provided by operating activities is $325,000.

Explanation:

Lacey Company

Cash Flow Statement (Operating Activities Only)

December 31, 2022.

<u>Details                                                                       Amount ($)</u>

Net Income                                                                   310,000

Depreciation expense                                                  45,000

Increase in accounts receivable                                 (55,000)

Decrease in inventory                                                   12,000

Increase in accounts payable                                        6,000

Increase in prepaid expenses                                      (4,000)

Decrease in income taxes payable                               3,500

Gain on disposal of land                                                <u> 7,500 </u>

Net cash provided (used) by operating activities  <u> 325,000 </u>

5 0
3 years ago
Whispering Winds Corp. uses the periodic inventory system and reports the following for the month of June.
vesna_86 [32]

Answer:

a 1) FIFO

Closing Inventory = $1,760

Cost of Goods sold = $11,264

2) LIFO

Closing Inventory = $1,056

Cost of Goods sold = $11,968

b) FIFO gives the higher ending inventory than LIFO because the oldest items and lowest costs are allocated to the cost of goods sold.

c) LIFO results in higher cost of Goods sold because latest cost are allocated to the cost of goods sold and latest cost may include price increases.

Explanation:

FIFO

Closing inventory = 176 units * $10= $1760

Cost goods sold = 352 units + 704+528 -176 =1,408 units sold

from opening $2,112

12 June   = $5632

23 June   = ( 528-176) =352 units * 10 =3,520

total sold = $11,264

LIFO

Closing inventory = 176 units * 6 = $1,056

Cost goods sold =  352 units + 704+528 -176 =1,408 units sold

23 June = $5,280

12 June = $5,632

1 June  = (352-176) = 176 *6 = $1,056

Total = $11,968

4 0
3 years ago
The budgeted income statement presented below is for Burkett Corporation for the coming fiscal year. If Burkett Corporation achi
nata0808 [166]

Answer:

Margin Of Safety= $275,862

Explanation:

We can calculate the margin of safety easily by the formula given below

Formula: Margin of safety = Budgeted sales - Breakeven sales

As breakeven sales are not given in the data Firstly we need to find out break even sales in order to calculate margin of safety

Breakeven sales=  \frac{Total fixed cost}{Contribution margin ratio}

As you can see in the data fixed cost s given but contribution margin ratio is not

Contribution margin(Sales revenue - All variable cost)= $1,000,000 - ($270,000 + $240,000 + $150,000 + $50,000) = $1,000,000 - $710,000 = $290,000

Sales price per unit = Total sales/Number of units sold

Sales price per unit=  $1,000,000/50,000 = $20

Budgeted contribution margin= $290,000/50,000 = $5.80

Contribution margin ratio = Budgeted contribution margin per unit/Sales price per unit

Contribution margin ratio = $5.80/$20 = 29%

Lets put values in breakeven formula to find breakeven sales

Breakeven sales=  \frac{Total fixed cost}{Contribution margin ratio}

Breakeven sales=\frac{210000}{0.29}

Breakeven sales= $724,138

Now we have both budgeted sales and breakeven sales, we can  easily calculate e of safety

Margin of safety = $1,000,000- $724,138

Margin of safety = $275,862

7 0
3 years ago
If your company sells products or materials to other companies rather than to the general public, you might maintain a ____ pres
joja [24]

Answer:

B2B

Explanation:

B2B Business-to-Business retail is a process in which a business sells its product to other business rather selling it to general consumer or general public. In B2C Business sells products to direct consumer, B2S Business sells products to Solopreneur and S2B Science reasearchers sell their work to Business.

8 0
3 years ago
Because so many organizational funds are spent on compensation-related activities, it is crucial for top management and hr execu
Ymorist [56]
The answer should be : with what the organization is trying to accomplish.

Hope this helps !

Photon
4 0
3 years ago
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