When a company sells its receivables and immediately receives cash for operating expenses and other needs it is called factoring. When they sell these receivables they are selling them to a third party to collect payments on their behalf.
<u>Technical skills</u> help managers with the skills required to accomplish a specific kind of work.
<h3>Who is a manager?</h3>
A manager can be defined as an individual who has been trained to acquire and distribute resources, as well as provide guidance, support, administrative control, and supervision to the employees who are working in a business organization (company), especially by being morally upright, skillful, well behaved and promoting the business's vison, culture, and values at all times.
<h3>What are
technical skills?</h3>
Technical skills can be defined as a series of specialized knowledge, professionalism, and expertise that are required to perform or accomplish a specific kind of task and work, including the use specific tools and software applications in real world situations.
In this context, we can reasonably infer and logically deduce that <u>technical skills</u> help managers with the skills required to accomplish a specific kind of work.
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Answer: social requirements
Explanation: In simple words, social requirements refers to the steps and precautions that a firm should take for operating their business efficiently in an environment.
The Indian community consist of a large number of vegetarians having religious sentiments that do not allow them to eat non veg. Thus, it is necessary for the firm to properly communicate them the presence of animal based ingredients in the product.
Answer:
overhead cost = $600
Explanation:
given data
overhead rate = $120 per labor hour
time required = 5 hours
to find out
overhead cost
solution
we get here overhead cost that is express as
overhead cost = overhead rate × time required ..............1
put here value and we get
overhead cost = $120 × 5
overhead cost = $600
Answer:
On November 27
Debit Retained earnings $12,750
Credit Dividend payable $12,750
<em>(To record the dividend declared)</em>
On December 24
Debit Dividend payable $12,750
Credit Cash $12,750
<em>(To record dividend paid) </em>
Explanation:
- Dividends on gains on shares bought by the shareholders. They arise due to appreciation in share price and improvement in company's net income.
- The dividend payable was calculated as $.5 x 25,500 shares = $12,750.
- Dividends are usually paid out of retained earnings.
- The dividend payable account is debited when payment is to be made.