Answer:
New buy
Explanation:
Based on the information given NEW BUY occur in a situation where a person or an individual order a brand new products that has already been selling for a long period of time in which the new product that is been ordered must be different from the one that was already in existence before now and the new products will have to be produce with a new material which will as well include brand new different design as well a different size just as in the case of Lands' End .
Therefore This would more than likely be an example of a: NEW BUY
Answer:
C. A debit to land for $240,000.
Explanation:
As it is mentioned that the value of the land has the appraised value of $240,000 also at the same time the common stock value could not be predicted
Therefore the land should be recorded at the current appraisal value i.e $240,000
Thus, the correct option is c. a debit to land for $240,000
The same is to be considered
Answer: See explanation
Explanation:
Firstly, the interest revenue will be calculated as:
= 7,100 × 12% × 90/360
= 7100 × 0.12 × 0.25
= $213
Therefore, Jun's journal entry assuming the note is honored by the customer on October 31 will be:
Debit: Cash = $7313
Credit: Notes receivable = $7100
Credit: Interest revenue = $213.
Answer:
D. All of these are differences between the two type of business
Explanation:
The sole proprietorship is a business organzation owned, controlled and organized by one person.
Features of sole proprietorship
1. It is owned and controlled by one person
2. The owners is personally liable for all business debt.
3. Owners can establish a sole proprietorship instantly, easily, and inexpensively.
4. Sole proprietorships rarely survive the death of their owners.
5. Capital is limited since the business owner is the only provider of capital.
Features of Corporation
1. It protect its owners from personal liability for corporate debts and obligations.
2.A corporation has perpetual life, that is, when shareholders pass on or leave a corporation, they can transfer their shares to others who can continue a corporation's business
3. Corporation is owned by its shareholders and managed by its board of directors.
4. Corporations can raise capital more easily through the sale of securities.
Answer:
E) illusory correlation
Explanation:
An illusory correlation happens when someone mistakenly believes that the occurrence of one event will result in the occurrence of other unrelated events.
Psychologically every single one of us tends to create a relationship between unrelated events, but some simply go one step ahead and deeply believe in a strict cause-effect relationship.
For example, a lot of people tend to create a relationship between very beautiful women and not being smart. While being pretty has nothing to do with being intelligent. I've met beautiful women that are extremely smart and very capable at work, while other not beautiful women are simply the opposite.
