Answer:
Journal Entry
Dr. Contingent Consideration Liability $500,000
Cr. Goodwill $500,000
Explanation:
It is assumed that the decline in the fair value is the correction of the acquisition entry. It means due to this event the consideration liability and goodwill are overstated we need to rectify the balances.
Hence,
The contingent consideration liability will be debited to reduce the liability and goodwill will also be decreased by crediting the goodwill account.
Answer:
44,980
Explanation:
20 % of $224,900 = (20/100) × $224,900 = $44,980
Answer:
B. False
Explanation:
People with high assertiveness respect themselves because they are very willing to defend their interests. They can freely express their thoughts and feelings. Since they are aware of their rights and others', they always work to resolve conflicts. But cultures with low assertiveness tend to allow others to manipulate them while displaying low self-esteem.
Answer: Option (A) is correct.
Explanation:
The statement in the question best describe the economic concept of real cost of some activity that is foregone to get the satisfaction from the other activity.
There is one more economic concept that is opportunity cost. Opportunity cost refers to the cost or benefit that must be give up by choosing some other alternative.
In our case, you have to decide whether you want to join accounting club or economics club and timings of both the clubs are same. Therefore, you have to choose one club and give up the other one. The cost of giving up is the opportunity cost.