Answer: Option A
Explanation: In simple words, critical thinking refers to the process under which an individual or an entity analyse and evaluate their objectives with the intent of forming a judgement for then purpose.
In the given case, joey has a wide variety of alternatives to choose to how to perform then task and the supervisor will form judgement about his work on the basis of the choices he made for the work assigned.
Answer:
FiFo method as prices are continuously increasing
Explanation:
Date Units Cost Per Unit Cost
June 1 150 units $ 1,040 6.93
June 10 200 units 1,560 7.8
June 15 200 units 1,680 8.4
June 28 150 units 1,320 8.8
$5,600
As the unit price is increasing the method which yields the highest gross profit would be FIFO.But in some cases the income is overstated as the beginning inventory is too old to account for . Similarly Lifo gives lower net income but that too is not very beneficial when the inventory is almost obsolete.
The average method gives a measure in between FIFO and LIFO.
Answer:
The correct answer that fills the gap is <em>d. before.</em>
Explanation:
Everything that happens in the business must be registered in the accounting system, so that the newspaper and the major contain a complete history of all the commercial operations of the period. If an operation or transaction has not been registered, account balances will not show the correct figure at the end of the accounting period.
The seats with which the accounts are adjusted or updated are called adjustment seats. If the adjustment does not affect an income or expense account, it is not an adjustment entry.
The income can be earned (accrued) before the cash is received from the client, or from accounting for the transaction in the accounting records. These are revenues that have been earned but the corresponding cash has not yet been collected.
The adjustments made to the income accounts are necessary to ensure that all income earned in the period has been recorded in the accounting. In order for the net profit to be expressed correctly in the income statement. There are two types of income adjustment:
- Cumulative income not collected.
- Customer advances.
The answer is a voidable contract
Answer:
$2,126 million
Explanation:
Calculation for the Projected dividends for 2017
Using this formula
Projected dividends for 2017=2107 Forescated net income ×(2016 Dividends/2016 Net Income )
Let plug in the formula
Projected dividends for 2017=$5,504 million × ($2,048 million / $5,302 million)
Projected dividends for 2017=$5,504 million×0.38626933
Projected dividends for 2017 = $2,126
Therefore the Projected dividends for 2017 will be $2,126 million
