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4 years ago

Cash-basis vs. accrual-basis accounting?

1 answer:

4 0

The cash method accounts for revenue only when the money is received and for expenses only when the money is paid out. On the other hand, the accrual method accounts for revenue when it is earned and expenses goods and services when they are incurred. ... Accrual accounting is the most common method used by businesses.

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"A respondent of a survey is asked whether their most recent dining experience was excellent, good, fair, or poor. The person in

34kurt

Answer:

The correct word for the blank space is: Ordinal.

Explanation:

Ordinal data is one of the four (4) types of measurement scales that values in order of importance the rating that can be provided over a subject. However, the difference between each of the rates is not clear. Usually, this approach aims to measure comfort, experience or satisfaction.

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3 years ago

In monopolistic competition, if a firm advertises and effectively raises consumer awareness of its product, it tends toA) lower

raketka [301]

Answer:

B) raise costs and increase demand for its product

Explanation:

A monopolistic competition is when there are many firms operating in an industry. The firms sell differentiated goods and set the market price for their goods and services.

Monopolistic competition engage in advertisement to increase the awareness for their goods.

If advertising is successful , it increases the demand for their goods and services.

Advertising also increases the cost of production.

I hope my answer helps you.

5 0

4 years ago

Big Time Widgets has the following inventory data: December 1 Beginning inventory of 15 units at $6.00 per unit December 7 Purch

kolbaska11 [484]

Answer:

Cost of goods sold on a LIFO basis for December = $409.50

If periodic inventory system is followed then, there is no proper weekly record, proper record is missing and therefore, average method is followed, in that case usage of LIFO or FIFO is not suggested.

Explanation:

As per LIFO method, we have Last In First Out which means the item which is last added in inventory will be sold first.

In the given instance we have things as following:

1 December opening 15 units $6.00 per unit $90.00

7 December purchased 50 units $6.60 per unit $330.00

12 December Sales 45 units $6.60 per unit $297.00

Balance after sales

15 units @ $6.00 per unit = $90.00

5 units @ $6.60 per unit = $33.00

20 December Purchased 30 units $7.50 per unit $225

29 December Sales 15 units $7.50 per unit $112.5

Balance

15 units @ $6.00 per unit = $90.00

5 units @ $6.60 per unit = $33.00

15 units @ $7.50 per unit = $112.50

As stated above, under LIFO we have Last In First Out

Cost of goods sold

12 December Sales 45 units $6.60 per unit $297.00

29 December Sales 15 units $7.50 per unit $112.5

Total cost of goods sold in December = $297 + $112.5 = $409.5

In case periodic inventory system had been used then,

no proper record is maintained, for cost at which the goods are acquired, and therefore average method is followed, since no proper cost record is maintained.

Final Answer

Cost of goods sold on a LIFO basis for December = $409.50

8 0

3 years ago

Neon Electronics Inc. sourced touch screens required for its tablet computers, cell phones, and televisions from a manufacturer

tamaranim1 [39]

This scenario best illustrate Backward vertical integration

Explanation:

Backward integration is a vertical integration that extends the role of a organization to perform roles traditionally performed by firms in the supply chain.

In other terms, backward integration is where an enterprise imports another company providing the necessary goods or services for production.

For examples, an company might purchase the product or raw materials manufacturer. Businesses often complete retrograde incorporation of these other businesses or combine of them. However, they may set up their own divisions to perform this mission.

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3 years ago

An organization that collects and distributes money to candidates is known as a(n)_______.

MA_775_DIABLO [31]

Answer:

political action committee

Explanation:

A political action committee is an organization set up by a political party to gather funds through the contribution and donation from members of the party. The funds collected by the political action committee are used to support the party candidate or campaign against the opposition party candidate. The political action committee is not obligated by law to disclose the identities of donors.

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4 years ago