<span>The primary purpose of the requirements analysis phase is to determine and document the specific features and functions of the new system. It does not eliminate obviously nonsensible projects before forming a project development team. Identify the requisite skills needed or show personnel assigned to the project or investigates how much similar projects have cost in the past.</span>
Answer:1. Make provision for warranty claims.
2. Disclosure of contingent liability
3. No cost should be recorded.
Explanation:
Warranty is an assurance made by firms to make good any agreed loss that is incurred by the customers in usage of goods and services whiting the period of the warranty. Since an estimation can be made based on firms history of sales a provision has to be made for possible warranty.
Since it's only probably that a loss will be Incurred by the firm by going into the contract and the financial statement has not been issue the firm should made a contingent liability disclosure in the report.
The self insurance is not a contract with a third party, in this vein no cost will be accrued until the loss is actually suffered.
Answer:
By influencing incentives, taxes can affect both supply and demand factors. Reducing marginal tax rates on wages and salaries, for example, can induce people to work more. Expanding the earned income tax credit can bring more low-skilled workers into the labor force.
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Answer:
$740,200
Explanation:
Depreciation is the systematic allocation of the cost of an asset to the income statement over the estimated useful life of that asset.
It is determined as the depreciable value of the asset over the estimated useful life of the asset where the depreciable value is the difference between the cost and salvage value of the asset
Mathematically,
Depreciation = (Cost - Salvage value)/Estimated useful life
Depreciation = (900,000 - 101,000)/5
= $159,800
Book value is the cost net accumulated depreciation
= $900,000 - $159,800
= $740,200
The answer is explained in detail below
Explanation:
Labor, L = 2000; Capital, K = 3000
Labour constraint,
Capital constraint ,
Solving the equation further, we get
- The range for the relative price of cloth such that the economy produces both cloth and food is 2/3 and 2
- Low cloth production → economy will use relatively more labor to produce cloth → opportunity cost of cloth is 2/3rd units of food.
- High cloth production → economy dips on labor → taking capital away from food production → raising opportunity cost of cloth to 2 units of food.
- If relative price of cloth lies between 2/3 and 2 units of food, the economy produces both goods.
- If the price of cloth decreases below 2/3 → complete specialization in food production → low compensation for producing cloth
- If the price of cloth rises above 2 → complete specialization in cloth production → low compensation for producing food