Answer:
Air France should have recognized the Revenue in month of APRIL.
Explanation:
According to the revenue recognition concept the revenue should be recognized when it is realizable. When goods or services are tranferred or rendered to the customer. It doesn't matter matter when the payment is received. Payment received in advance should be recorded as unearned revenue rather as revenue. On the other hand payment doesn't received until the transfer of goods or services, a receivable will be made in result of revenue recognition entry. Air France should recognize the revenue on April 5, when the flight took placed and services are performed. Sale of ticked on January 26 will be recorded as unearned revenue and a receivable on the other hand. The receivable will be adjusted on February 4 when cash is received and the revenue will be recognized on April 5 when flight took place.
Answer:
Ball can certainly hold Sullivan to a contract for sale of the land. Sullivan in his reply to Ball's enquiry offered to sell the forty-acre tract of land at $60,000 and nothing less. Ball accepted this offer by Sullivan by stating his acceptance.
These exchanges of offer and acceptance meet the terms of a valid contract. Therefore, Ball can always hold Sullivan for contract enforcement.
Explanation:
In making a valid contract, offer and acceptance are key ingredients, with specific consideration. Since the two parties, Ball and Sullivan are agreed on the consideration and have exchanged offer and acceptance, the validity of the contract is enhanced thereupon.
Answer:
C) there is at least one fixed factor of production.
<u>Multiple-choice options</u>
A) there is increasing scarcity of factors of production.
B) the price of extra units of a factor is increasing.
C) there is at least one fixed factor of production.
D) capital is a variable input.
Explanation:
he law of diminishing marginal returns cites that adding extra input while maintaining the others fixed will cause the overall output to decrease . Adding one more production input while keeping the rest intact decreases the marginal returns and increases the average production cost.
The law only applies where there at least one fixed input. When the firm uses more of the variable input, the firm's marginal product will eventually decrease.
Answer:
c. the entry of new firms
Explanation:
- The entry of the new firms in the market creating a market supply curves to shift to the right side and as the curve shifts the markets price then starts to decline with it
- This declines the economic profits in the new and the existing firms as long as the profits exists in the markets and entry will continue to shift to supply to the right.
- The diversification of the melt and the fall in the monopoly of the firms start to take place.
- They take up resource ownership and technological developments. In short, they increase the competitiveness and bring rivalry into the market.
Answer:
7 shares and $70
Explanation:
The computation is shown below:
The additional shares is
= 60 shares ÷ 9
= 7 shares
And, the amount of money that have to be paid is
= Additional shares × purchase price
= 7 × $10
= $70
Therefore the same would be considered relevant
