Answer: False
Explanation: In simple words, perfectly competitive markets refers to the markets in which there are large number of sellers operating at a small level. The products offered by the participants are similar and there is no scope of earning unlimited profits.
The public utilities such as electricity and water is usually maintained by the govt. itself or by a private institution under the complete guidance from govt. It is seen as a monopoly market.
Hence the given statement is false.
I would focus on funding/budget cuts. For instance they're cutting budgets for schools and placing it more on wars..
Answer:
D. CFFO decreases by $8,000.
Explanation:
First and foremost, the amortization of discount on bonds payable would increase the book value of the bond by $2,000 since discount amortized is added to book value while premium amortized is deducted.
As a result, option A which stated that bonds payable book value increases by $8000 is wrong as well as option C since a discount amortization increases bonds payable book value and not the way around.
Cash account with a credit of $8,000 showed that the cash paid to bondholders was $8,000, hence, cash flows from operations (CFFO) should decrease by $8,000
Answer:
The answer is: D) $5,800
Explanation:
The doubtful accounts should have a total balance of $6,000, representing 1% of total sales (= $600,000 x 1%).
Since doubtful accounts balance is only $200, you must entry a debit record of $5,800 (so that the total balance of that account is $6,000).
Answer:
$6,550
Explanation:
The computation is given below:
Given that
Last 4 days amount of the year ended December 31 = $5,250
Regular payroll disbursements = $11,800
So, the amount recognized on December 31 would be
= Regular payroll disbursements - Last 4 days amount of the year ended December 31
= $11,800 - $5,250
= $6,550
Basically we deduct the amounts so that the exact value could come.