The correct term to fill in the blank would be rent. The price paid for the use of someone else's property is called rent. It is a periodic and fixed amount of money paid by one that uses the possession of one.
Answer: Joint Venture
A Joint Venture is a business entity that is created when two or more corporations pool in their resources for a specific project.
The corporations that are a part of the Joint Venture share the governance, risks and rewards of the joint venture.
In a Joint venture the corporations who come together to form a joint venture retain their distinct entities.
Answer:
Financial picture
Explanation:
The phrases is suitable because An income statement will give a general picture for stakeholders regarding the company's financial condition in the past year.
it consist of several important financial information that might influence investors to either put their money into the businesses or simply abandoned it. Such as how much income that the company able to generate, the amount of expenses that the company have to pay for the operation, how much of the income is liquid, etc.
Answer:
Non-forfeiture option
Explanation:
Insurance is usually taken to guard against uncertainty of an event in the future. For example if a fire breaks out in an office, insurance can be used to regain an agreed portion of the office value from the insurance company.
It is a way of guarding against risk.
Non-forfeiture option is used to prevent unintentional coverage payment lapse.
This is done with the use of automatic premium loan and grace periods in case of default.
Answer:
c. A credit to Cash of $272.75.
Explanation:
These transactions can be explained with the help of T- Account .
<h2><u> Cash </u></h2><h3><u>Debit Credit </u></h3>
Bal $ 500
Freight $61
Shipping
Charges $ 85
Supplies $ 50
Donation $ 69
Suspense 7.75
<u>Fund $ 227.25 </u>
Fund $ 227.25
<u> Reimbursement </u><u> $272.75</u>
<u> $ 500 </u>
<u />
<em><u>As there is shortage of $ 272.25 in the amount of $ 500 the petty cash will be reimbursed with this amount.</u></em>
<em><u>An amount of $ 7.75 is short which is dealt in suspense account and reimbursed with the amount falling short.</u></em>
