Answer:
Universality of management
Explanation:
As the name suggest the management is universal that means the same technique, same procedure, policies, rules, regulations, etc are applicable in all level of the organizations i.e top, middle and lower level of management plus it also applies on the various size of the organizations and the working locations so that the efficiency and effectiveness of the task or work could be done in a smooth manner
Inventories held for sale in the normal course of business are classified in the balance sheet as Current liabilities.
<h3>What is meant by current liability?</h3>
This is the term that is used to refer to all of the financial obligations that the customer would have to have due to themselves in the long run. These are the liabilities that are known to be dropped in the current assets and would then be settled in the course of a year.
Hence we can say that Inventories held for sale in the normal course of business are classified in the balance sheet as Current liabilities.
Read more on Current liabilities here: brainly.com/question/28039459
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<span>Rosie's Flowers Company follows a B2C model. This is also known as a business to consumer model. It is when a business has transactions that are directly between the company and the consumers. The consumers are the end users of the products or services.</span>
Answer:
Since a perfectly competitive firm must accept the price for its output as determined by the product’s market demand and supply, it cannot choose the price it charges. Rather, the perfectly competitive firm can choose to sell any quantity of output at exactly the same price. This implies that the firm faces a perfectly elastic demand curve for its product: buyers are willing to buy any number of units of output from the firm at the market price. When the perfectly competitive firm chooses what quantity to produce, then this quantity—along with the prices prevailing in the market for output and inputs—will determine the firm’s total revenue, total costs, and ultimately, level of profits.
Answer:
Dr Interest Receivable $240
Cr Interest Income $240
Explanation:
The reason is that the Techcom company is lender and must account the lending as a loan.
The loan will be paid with the interest at the end of the period. The interest received at the end of December 31 would be the single month loan at the $4800 at the interest rate which is 10 percent here.
The Interest Income = $4800 * (10% interest rate * 2/12) = $240
The interes would be recorded for the two months which is $240 and accounted for as under:
Dr Interest Receivable $240
Cr Interest Income $240
And at the end of January 31, Teller will make the payment which would be accounted for as under:
Dr Cash $5260
Cr Interest Revenue $120
Cr Notes Receivable $4800
Cr Interest Receivable $240
