Answer:
The only person liable for the goods purchased is Alex because he was the person that made the purchases.
Explanation:
Alex is to be held liable because he was authorized to make the purchase. A single member of an unincorporated association is liable for the debts of the organization if they are given authorization to execute a specific act which is seen in this case here.
The statement that the percent sales method for estimating bad debts for a company, will only use those balances in the income statement is False.
<h3>What is the percent of sales method?</h3>
The percent of sales method is one of the methods that companies can use to estimate the bad debts that it expects in a given period. Bad debts refer to those Account Receivables that will not pay the company back even after they have taken goods or services on credit. In order to be able to use the percent of sales method, the sales of a company need to be known.
The sales that a company makes includes both the sales that the company made and the accounts receivable. The Accounts Receivables go to the Balance Sheet and Sales go to the Income Statement. This means that the Balance Sheet balances are used as well as Income Statement balances and not just the latter.
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Answer:
The share of each additional dollar of income earned that is devoted to saving rather than consumption.
Explanation:
The marginal propensity to save is defined as the fraction of increased income that is reserved for saving and not consumption, and it is the slope of the graph of income against savings.
For example if an individual earns an extra dollar and he has propensity to save of 0.5 that means out of the one dollar he will save 50 cents and spend the remaining 50 cents.
Answer:
$17,600 ; $29,000
Explanation:
The computation of the net income is shown below:
Based on Cash basis
= Received cash - Expenses incurred in cash - prepaid expenses
= $56,000 - $26,900 - $11,500
= $17,600
Based on Accrual basis
= Revenue earned - expenses incurred
= $64,000 - $35,000
= $29,000
The cash expenses incurred is
= $35,000 - $8,100
= $26,900
The individual mechanism that deals with workers psychological reactions to overtaxing job demands is referred to as stress.
Stress is considered as a defensive mechanism, as it follows the three stages of resistance, alarm, and exhaustion. The psychological stress is usually associated with negative life changes.
So here in this case, the individual mechanism, which is dealing with the workers psychological reactions to overtaxing job demands is considered as stress. As the workers are stressed due to the overtaxing job demands.
Hence, the coping mechanisms are the strategies people often use in the face of stress in order to help manage painful or difficult emotions.
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