Answer and Explanation:
The accounting principles and the suggestions are shown below:
a. Business Entity Concept:
In this given situation, the amount of $500 should be refunded to the business or it can be recognized as the withdrawal amount by Cathy Miller. The suggestion is that She should use a personal check for paying daycare in the future for her son
b. Going Concern Concept:
Since the business is closed for month-long vacation in the month of June. As Cathy's Antiques is not closing the business for permanent. As she plans for reopening on July 1. The suggestion is that she should hold an inventory decline sale or for other relevant sales.
c. Monetary Unit Concept:
The invoice should be restated in the united states for the purpose of accounting
d. Revenue Recognition Concept:
The revenue should be recognized when it is realized or earned. As the table is not delivered so the revenue should not be recognized.
The amount of $1,500 should be recorded for an account like deposits received from the customers until the delivering of the table is not done
Answer: False
Explanation:
<em>The given statement from the following case/scenario is false</em> because in accordance to the rules of law of United States of America , the payments made to foreign officials are always deductible. Therefore the payments that are made by Susan to the Saudi officials are deductible, unless and until they are illegal
.
Answer:
Both the trail mix and granola bars are tied products since the selling of one of the (the popular trail mix) is tied to the selling of the other product (the less popular granola bars).
Companies do this taking advantage of a very popular product, in order to either increase the sales of a less popular product or simply to get rid of the remaining inventories of some other product.
Answer:
D. All of the above.
Explanation:
Since, Joe Tau, CEO of Tau Pharma places a major emphasis on his creative passion and spirit of innovation. He is interested in creating a culture where entrepreneurial drive is contagious and motivates employees to take up a new idea, use it, and do it as quickly as possible.
Hence, in order to stimulate creativity and motivate passionate engagements, Tau should establish a structural framework and motivators that include opportunities for achievement, recognition and reward.
This simply means, when Tau develops a structural framework comprising of setting up potential goals or milestone (achievement) for employees, ensure their achievements are recognized and as well as rewarding them for their achievements; the employees would certainly become motivated to pick up new ideas and use the ideas as quickly as possible. Thus, creating a positively contagious culture among them.
Answer:
Total revenue rises immedately after the fare increase, since demand over the immediate period is price Inelastic.
Explanation:
Elasticity in the price demand measures the porcentage in the change of the quantity demanded as a response to a change in the price. If the elasticity is more than 0 but less than 1 it means that the price demand is inelastic. So when the price is rised the quantity demand will decrease in a minor porcentage than the rise in the price so it will represent a bigger revenue.
