Essentially, your net worth is the value of what you own, minus what you owe. Or, as a formula: assets – liabilities = net worth
False.
Supplies goes down. Supplies should be an asset. What goes up? Nothing yet. Something will when a transaction takes place.
Answer:
c. Correct billing problems without being prompted by the customer.
Explanation:
If a salesperson notices a billing error in an order, he or she should <u>correct billing problems without being prompted by the customer.</u> A Salesperson should act there after the notice and fix the billing problems for the customer as it may result in confusion later.
Answer:
d. a $10,000 decrease.
Explanation:
The computation of the impact on the income is given below:
In case of making the product
= Direct material + direct labor + variable manufacturing overhead + rented
= $100,000 + $160,000 + $60,000 + $10,000
= $330,000
And, in case of buying the product
= 20,000 × $17
= $340,000
So there is a decrease of $10,000