B, because monopolistic market sells homogeneous goods.When a firm raises its price,it loses all of the customers
Answer:
B.Jacob will recognize commission expense in the amount of $3,000 in August
Explanation:
Jacob will recognize commission expense in the amount of $3,000 in August for the 3 tractors that was sold and Jacob was the salesperson who pays Jason the amount of cash realized on the 10th day of the month following the sale of the tractors.
The Commission expenses can be calculated as:
(commission of $1,000× Number of tractor 3)
=$3,000
The correct answer is True. When ownership of the items passes to the customer, revenue is realised. In addition to the requirements for determining when control transfers, a reporting entity must also satisfy certain additional requirements for a customer to have achieved control in a bill-and-hold arrangement.
A bill and hold sales arrangement allows for payment in advance of the item's delivery. This is a sales agreement when a product seller invoices a consumer up front but doesn't actually ship the thing until later.
In a bill and hold transaction, the vendor does not deliver the purchased goods to the customer, but the associated income is still recorded. Under this structure, revenue cannot be recognised until a number of severe requirements have been satisfied. The possibility of falsely recognising revenue too early exists otherwise.
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<span>True. Agency relationships can exist outside an employer-employee relationship, and thus agency law has a broader reach than employment law does.
An agency relationship is made up of a relationship between a principle and and an agent. In this relationship, the principle gives the agent </span>authority to act on their behalf when dealing with a third party. This is a legal agreement between the two.
