Answer:
Option (D) is correct.
Explanation:
Imperfect information refers to a situation in which both the parties (i.e buyer and seller) have different information. For example; In a market of second hand car industry, the buyer have less information about the car as compared to the seller. In this type of industry, the seller have more information about the condition and quality of used car.
In our case, the seller of antique have more information about the product, so this will lead to give a disadvantage to a potential buyer of antique.
Answer:
ABC is the BENEFICIARY under the letter of credit and will be paid under a standard letter of credit AFTER ABC DELIVERS TO THE BANK THE BILL OF LADING AND ANY OTHER DOCUMENT SPECIFIED UNDER THE LETTER OF CREDIT.
Explanation:
A letters of credit (LC) is issued by the buyer's bank to the seller's bank in order the guarantee the payment for a foreign commerce transaction. The payment s competed after the seller provides the documents needed to prove the delivery of the goods.
Based on the accrual method, the correct entry for $10,000 worth of services would be a debit to accounts receivable for $10,000 and a credit to Sales revenue for $10,000.
<h3>Why is this the correct entry?</h3><h3 />
The company has performed a certain service for a customer and hasn't been paid for it. The customer therefore owes the company which makes them an account receivable.
The $10,000 will be considered revenue by the company so they will credit the revenue account. Accounts Receivables are assets so this account will be debited.
Find out more on accounts receivables at brainly.com/question/24871345.
Answer:
Material processing
Explanation:
Materials processing can be said to the series of operations that transforms industrial materials from a raw-material state into finished parts or products.
Answer:
On the transfer of the building,
Appreciation of building = FMV - Adjusted Basis
= $50,000 - $10,000
= $40,000
WFI has taxable transaction and gain recognition of $40,000.
On the transfer of the land,
Appreciation of land = FMV - Adjusted Basis
= $150,000 - $90,000
= $60,000
WFI has taxable transaction and gain recognition of $60,000.
