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djyliett [7]
3 years ago
12

The _____ person standard is the test used to determine if a person owes a duty of care to another person.

Business
2 answers:
tamaranim1 [39]3 years ago
6 0
I believe it would be reasonable or responsible. Leaning towards reasonable
kvv77 [185]3 years ago
3 0

Answer:

I think reasonable because the person knows that they owe a duty, or “job”, of caring for another person. Which would only mean that they are being reasonable and rationalizing in owing something to the person.

You might be interested in
At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts:
kvv77 [185]

Answer:

    Cash                                                  Accounts receivable

    debit              credit                          debit              credit

    42,000                                              25,000

c.  140,000                                       a.   185,000

d.                        120,000                 <u>c.                         140,000</u>  

<u>e.                        31,400   </u>                      70,000

    30,600

    Service revenue                               Accounts payable

    debit              credit                          debit              credit

a.                         185,000                                            8,400

    <u>185,000                       </u>                b.                        45,800

       0                     0                        <u>e.   31,400                      </u>

                                                                                    22,800

    Common stock                                 Retained earnings

    debit              credit                          debit              credit

   <u>                        24,000</u>                                              34,600

                           24,000                  f.   10,000

                                                              <u>                        19,200</u>

                                                                                      43,800

    Operating expenses                        Salaries expenses

    debit              credit                          debit              credit

b.  45,800                                         d.  120,000                  

<u>                            45,800</u>                       <u>                      120,000</u>

       0                      0                                  0                    0                      

in order to determine the balance of the retained earnings account at the end of the year, we must first close all the temporary accounts:

Dr Service revenue 185,000

    Cr Income summary 185,000

Dr Income summary 165,800

    Cr Operating expenses 45,800

    Cr Salaries expense 120,000

Dr Income summary 19,200

    Cr Retained earnings 19,200

6 0
3 years ago
4. You have determined that Company X estimates bad debt expense with an aging of accounts receivable schedule. Company X's esti
MariettaO [177]

Answer:

a. $180

Explanation:

Bad debt expenses is generally classified as Administrative expense and hence it is included in the expense section of the income statement before the calculation of the Net Income.

From the question it is evident that the write offs during the period were $180 and hence the expense recorded in the Income statement as bad debt expense would be $180 because they are unrecoverable for the current period.

Hope this helps.

Thanks buddy.

4 0
3 years ago
Read 2 more answers
Accounts receivable arising from sales to customers amounted to $100,000 and $70,000 at the beginning and end of the year, respe
mote1985 [20]

Answer:

The cash collected from customers = $230,000

Explanation:

The cash collected from customers to be reported on a direct method statement of cash flows is = Net sales + decrease in accounts receivable.

or, Net sales - Increase in accounts receivable

Given,

Net sales = $200,000

Beginning accounts receivable = $100,000

Ending accounts receivable = $70,000

Decrease in accounts receivable = $100,000 - $70,000 = $30,000

Putting the values into the formula, we can get

Net sales + decrease in accounts receivable

$200,000 + $30,000 = $230,000

The cash collected from customers = $230,000

5 0
3 years ago
The journal entry a company records for the issuance of bonds when the contract rate is greater than the market rate would be
ahrayia [7]

Answer:

C. debit cash, credit premium on bonds payable and bonds payable

Explanation:

Since the contract rate is greater than the market rate, the bond is issued at a premium. And, the journal entry is shown below:

Cash A/c Dr XXXXX

      To Premium on bonds payable A/c XXXXX

      To Bonds payable A/c XXXXX

(Being bond is issued at a premium is recorded)

When the bond is issued at a premium, we debited the cash account and credited the premium on bonds payable and bonds payable account

4 0
3 years ago
The two types of distribution channels are direct and ________________.
Umnica [9.8K]
The answer is (Indirect).
8 0
3 years ago
Read 2 more answers
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