Commission simply means a form of variable-pay remuneration for services that are rendered or products sold.
<h3>What is commission?</h3>
Your information is incomplete. Therefore, an overview will be given. A commission is a payment that an employee makes based on a sale.
For example, when an employee sells a product for $500 and they get a 10% commission on all sales, then the employee will earn $50 on that sale.
Learn more about commissions on:
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Answer:
Leased Fee Interest
Explanation:
Leased Fee Interest refers to the right of the lessor to lease his property to a tenant and earn rental income in addition to the value of the asset which is reverted back to the lessor upon expiry i.e reversionary right.
The total of leased rental payments and reversionary value is termed as Leased Fee Interest.
A lease is a contract wherein one party i.e the lessor agrees to lend the asset to other party i.e the lessee in exchange of periodic payments in the form of lease rentals usually without transferring the ownership of the asset.
Answer:
D. none of these answer choices are correct.
Explanation:
The principle of revenue recognition occurs when the revenue is realized or earned either cash is received or not and it also serves the accounting accrual basis. Realizable also means that the buyer gets the product but the payment is made afterward.
In this, it does not depend on cash transactions.
Hence, the option D is correct
Answer:
Unit product cost= $84
Explanation:
Giving the following information:
Units produced 8,700
Direct materials $13
Direct labor $55
Variable manufacturing overhead $1
Fixed manufacturing overhead $130,500
The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.
Unitary fixed overhead= 130,500/8,700= $15
Unit product cost= 13 + 55 + 1 + 15= $84
Answer: The correct answer is "universal".
Explanation: In a <u>universal</u> banking system, commercial banks engage in securities underwriting, but separate subsidiaries conduct the different activities. Also, banking and insurance are not typically undertaken together in this system.
It is the most common type of banking system and is the most commonly used.
