Answer:
include the cost of selling, delivering, and after-sales support for customers
Explanation:
The period cost is the cost which includes the major part of the selling and admin expenses plus it is also not capitalized and can be incurred according to the passage of time
So as per the given situation, the third option is correct as it includes the selling, delivering cost and after sales support
Therefore all the other options are wrong
Answer:
It is an example of an import quota
Explanation:
An import quota is a ceiling on the physical or monetary amount of a product that a firm can import.
In this question, only a few firms can import cheese, and each firm has a ceiling on the amount of cheese they can import per year. The limit is expressed in physical terms (pounds of cheese). The logic behind import quotas is protect local industries, however, they oftern result either in shortages or in higher prices for consumers.
Answer:
Must concentrate on perfecting the technology and business processes associated with the problem.
Answer:
The journal entries is as follows:
(1) Received $12,000 cash from owners and issued stock to them
Cash A/C Dr. $12,000
To Stock capital a/c $12,000
(2) Borrowed $9,000 cash from a bank and signed a note due later this year.
Cash a/c Dr. $9,000
To Notes Payable(short term) $9,000
(3) Bought and received $1,000 of equipment on account.
Equipment a/c Dr. $1,000
To Vendor's a/c $1,000
(4) Purchased land for $16,000; paid $1,400 in cash and signed a long-term note for $14,600.
Land a/c Dr. $16,000
To cash a/c $1,400
To Note payable(long term) $14,600
(5) Purchased $5,000 of equipment; paid $1,400 in cash and charged the rest on account.
Equipment a/c Dr. $5,000
To cash a/c $1,400
To Vendor's a/c $3,600
Answer:
Reconciling vendors' monthly statements with subsidiary accounts payable ledger.
Explanation:
In accounting, reconciliation is the process of checking that two sets of records (usually the balances of two accounts) are in agreement. Reconciliation is used to ensure that the money leaving an account matches the actual money spent.
