Answer:
The correct statements under the step-down method are:
a. I, II, and III.
Explanation:
The step-down method of allocating the costs of service departments is one of the three methods in use. The others include the direct method and the reciprocal method. With the direct method, service departments' costs are directly allocated to the production departments without any allocation to a service department. The reciprocal method is much more involved, using formulas and calculations. The step-down method allocates the service departments' costs to all the other service and production departments, except itself. This step is eventually followed until all the service departments' costs have been allocated to the production departments.
Answer:
D) cash items in the process of collection fall by the amount of the check.
Explanation:
Cash Items in the process of collection are all the item which is due and are in collection process. When a fund for a deposited check is received it is transferred to the depositor's account and in process collection are reduced the balance of account holder is increased. So, the appropriate answer is D) cash items in the process of collection fall by the amount of the check.
Explanation:
Perfect competition - A perfectly competition firm is one that is marked by a huge number of seller / producers as well as a large number of buyers . These firms produce large amounts of homogeneovs products that are sold at a price decided in the market by market force .
Answer: A limited liability company
Explanation:
A limited liability company is a company in which the liability of members is limited to the amount of money invested in the business.
The characteristics of a limited liability company includes:
1. Limited liability - the liability of members is limited to the amount invested by members.
2. Members have the option of managing the company by themselves or employing managers.
3. The Limited liability company is a separate legal entity from its members.
