law on property rights is defined as the state government granting power, license, or real property to a private individual or individuals using a land patent
A property's legal ownership and permitted uses are governed by property right law. When it comes to land, it has been noted that theft is common. People who purchase properties often lose them to thieves when they are resold to someone else who is unaware that the property has already been sold to someone else. The property right law was established to stop this circumstance from occurring frequently so that the owner of a plot of land would have the legal right to claim ownership for it and use it for any purpose he desired without fear of it being taken by someone else.
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The question is incomplete as the figures are missing. The complete question is,
Fosnight Enterprises prepared the following sales budget:
Month Budgeted Sales
March $6,000
April $13,000
May $11,000
June $20,000
The expected gross profit rate is 20% and the inventory at the end of February was $7,000. Desired inventory levels at the end of the month are 30% of the next month's cost of goods sold. What are the total purchases budgeted for May?
Answer:
Purchases - May = $10960
Explanation:
To calculate the total value of purchases that are budgeted for May, we first need to calculate the cost of goods sold and the opening and closing inventory for May.
As the gross profit margin is 20%, the cost of goods sold will be 80% of sales.
Cost of goods sold for May = 0.8 * 11000 = $8800
Cost of goods sold for June = 0.8 * 20000 = $16000
Opening inventory - May = 8800 * 0.3 = $2640
Closing Inventory - May = 16000 * 0.3 = $4800
Purchases = Closing Inventory + Cost of Goods Sold for the month - Opening Inventory
Purchases - May = 4800 + 8800 - 2640
Purchases - May = $10960
That statement is true
A stated interest rate is the return of investment that is not compounded by the interest accumulation throughout the years.
In general, a stated interest rate will give us a lower amount of return compared to effective annual interest rate that compound the accumulation throughout the years,
Answer:
Option C is the answer
Explanation:
The degree of operating leverage is measured by dividing the contribution margin by operating income.
The degree of operating leverage (DOL) is the ratio of contribution margin to operating income. It measures how much the operating income of a company will change in response to a change in sales. A Companies that have higher proportion of fixed costs to variable cost will have greater levels of operating leverage.
Answer:
The correct answer is letter "C": Positive confirmations.
Explanation:
Positive confirmations are audit procedures by which ambiguous information is clarified. It also implies the confirmation of the accuracy of the data provided in the company's books and Financial Statements. By doing so, liabilities, bank accounts, accounts receivables and payables amounts are verified.
