If this bodybuilding club has an annual membership fee of $350 and you plan to visit 10 times each month; your cost per visit for the entire year will be $35. This is calculated through dividing $350 by 10, giving a result of $35.
Answer:
B. Both are subtracted from purchases.
Answer:
D. Loans are the largest assets and deposits are the largest liabilities
Explanation:
Banks represent financial institutions wherein customers can either save their money or borrow money. Banks ideally serve as an intermediary between borrowers and lenders.
Banks avail funds from the lenders who want to deposit and keep their money safe. Such depositors are paid an interest on the money deposited. Out of the pool of funds created through such deposits, a bank lends these funds to the borrowers who are in need at a rate higher than the rate it provides to it's depositors.
Thus, the money granted as loan to the borrowers by a bank represent it's largest assets, which it will receive in future. While deposits, which the bank has to return to the depositors upon demand, represent a bank's largest liabilities which it must meet.
Answer:
As a disclosure only. No liability is reported
Explanation:
According to the International Accounting Standard IAS 37 Provisions, Contingent Liabilities and Contingent Assets, contingent liability can only be recorded if the likelihood of recording of the loss is reasonably probable and in this case the chances of occurence of the liability is reasonably possible which must not be recorded. The only effect would be disclosing the litigation matter and not including the liability amount that will arise if it goes wrong.
Answer:
Performance
Explanation:
She is asked to take a test to analyse here capability and understanding. The test she took is called 'Performance testing' it is a way toward deciding the swiftness, responsiveness and knowledge of a particular set of skill. It helps an organisation or a firm to pick the right candidate for the job. The organisations usually choose a candidate by analysing their performance test.
