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Tcecarenko [31]
3 years ago
12

Formal written promises to pay suppliers or lenders specified sums of money at definite future times are known as a.accounts rec

eivable. b.notes payable. c.accounts payable. d.All of these choices are correct.
Business
1 answer:
IrinaVladis [17]3 years ago
7 0

Answer:

B)Notes payable.

Explanation:

Notes payable can be regarded as written agreements which is a (promissory notes) whereby there is agreement by one party to pay other party a definite amount of cash. Note payable can as well be regarded as loan between two parties. A note payable usually consist information such as the amount to be paid as well as interest rate. It should be noted that Formal written promises to pay suppliers or lenders specified sums of money at definite future times are known as Notes payable.

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The tables below show the spending and revenue for Littleland in 2010. Use these tables to answer the following questions.
grandymaker [24]

Answer:

Explanation:

The total Expenditure  is the summation of all the following parameters ( Spending on Education, Spending on Welfare and social security,  Spending on Healthcare, Spending on Defense, Payments on Debt, Other Spending)

The total Expenditure = $(320+890+270+120+170+240) million

The total Expenditure = $2010 million

However;

The total Revenue = Income Tax+ Sales Tax+ Corporate Tax+ Social Insurance

The total Revenue = $(800+270+300+340) million

The total Revenue = $1710 million

The debt now will be the difference between the total expenditure and the total revenue.

Debt = $(2010-1710) million

Debt = $300 million

Therefore, Littleland needs to borrow  $300 million

At the end of 2010, the total debt = Total debt of 2009 + amount borrowed in 2010

Total debt of 2009 = $ 3.5 billion

amount borrowed in 2010 = $0.3 billion

At the end of 2010, the total debt =  $(3.5+0.3) billion

At the end of 2010, the total debt =  $3.8 billion

Therefore; the Debt to GDP ratio in 2010 = 3.8/7.3 = 52.05%

The Debt to GDP ratio in 2010 = 52.05%

To the nearest whole percentage ≅ 52%

6 0
3 years ago
David, a payroll clerk, came up with an idea for processing payroll more efficiently and presented it to the Human Resources Dep
Alenkinab [10]

Answer:

This is very True

4 0
4 years ago
Determine the balance in Finished Goods Inventory on October 31 and November 30 under absorption costing and variable costing. C
Morgarella [4.7K]

Answer:Please refer to the explanation section

Explanation:

The question is incomplete, amounts of production costs like Direct Material, direct labour and Variable/Fixed manufacturing overheard were not given, we will explain the absorption cost and variable cost in detail so that the student would be able to calculate absorption cost and variable cost balances easier.

Absorption costing Method

Total Manufacturing costs are allocated to Finished goods Product. Absorption Costing method assigns or allocates the total cost of Manufacturing or total production costs to units of Finished Goods produced. each unit of finished goods thus represents total costs of production per unit or Total Manufacturing/Production cost is the Balance of Finished Goods.

Total Manufacturing/Production cost = direct labor cost + direct material cost + variable and fixed Manufacturing overheads cost.

Finished Goods Balance = Total Manufacturing/Production cost

A unit of Finished Goods = Total Manufacturing costs/units produced

Variable costing method

Variable costing method fixed manufacturing costs are treated as an expense,  Variable Manufacturing costs are the only allocated to inventory. The value or Balance of inventory consist of Variable Manufacturing cost like Direct labor, Direct Material and Variable Manufacturing costs. Finished Goods Balance equals total Variable Manufacturing cost

5 0
3 years ago
Over a six-month period in 2007, the price of corn increased by almost 70% as a result of increased demand for ethanol biofuel.
Lady bird [3.3K]

Answer:

a. As a result of the price increase in corn, the supply of corn would increase. At the same time, the amount of acreage used in corn production would increase.

b. The most likely cause of the change in the amount of acreage used in corn production is:

A. The higher price signals suppliers that corn is becoming more valuable.

Explanation:

With corn as the major ingredient for the production of ethanol biofuel the demand and supply of corn increase to match with the increasing price.  Suppliers, on their part, increase production by utilizing more acreage of land devoted for corn production.  This is the typical interplay between the market forces that drive market equilibrium.

6 0
3 years ago
Beth, a recent college graduate, recognizes that she has lots of nice "stuff," largely thanks to her family buying it for her. B
bixtya [17]

Answer:

D

Explanation:

Wealth is the value of all the assets a person owns

Beth is pondering on the value of all her assets less her debt. So, she is pondering on her wealth

4 0
3 years ago
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