Answer:
False
Explanation:
Within the relevant range of activities, total fixed costs remain constant and fixed costs per unit decrease as total output increases. Total variable costs vary depending on total output, but variable costs per unit should remain constant.
On a long term basis, all costs are variable, that is why it is important to consider the range of activities, i.e. output levels.
Capital items. These include major purchases like buildings, fixed and accessory equipment.
Answer:
B. a debit to Interest Expense for $ 42 comma 750.
C. a credit to Cash of $ 137 comma 750.
Explanation:
Payment of Note Payable includes the payment of interest on the outstanding balance and principal amount of the note. In this question it is the first payment of the note payable, so the outstanding balance is the face value of the note, Interest is calculated using this value, A fix payment of $95,000 is also made.
As per given data
Principal Payment = $95,000
First Interest payment = $475,000 x 9% = $42,750
Total Payment = $95,000 + $42,750 = $137,750
Journal Entry for first payment
Dr. Interest Expense $42,750
Dr. Not Payable $95,000
Cr. Cash $137,750
A correct option is an option (b),i.e., can be partially executed if aborted.
What is a transaction?
An agreement that has been fulfilled between a buyer and a seller to trade goods, services, or financial assets in exchange for cash is referred to as a transaction. In corporate accounting, the phrase is also frequently used.
Why is a business transaction important?
Business transactions are becoming more and more important because they provide an abstract view of the interactions that occur among organizations to achieve a commercial goal.
What is the nature of the business transaction?
A business transaction is an activity that can be quantified objectively that involves the exchange of money, products, or services for money or for the right to receive money between accounting entities that are people (natural and artificial).
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Correct question is-
Observe one urgent social problem in your Community & conceptualize social Enterprise that can can solve the problem and make at the same time.
<u> What Is a Social Problem?</u>
A social problem is any condition or conduct that has negative consequences for large numbers of human beings and that is generally recognized as a condition or behavior that wishes to be addressed. This definition has both an objective component and a subjective thing.
<u>A current example is climate change: </u>
Although the overwhelming majority of climate scientists say that weather change (adjustments within the earth’s weather because of the accumulation of greenhouse gases inside the ecosystem) is actual and extreme, fewer than two-thirds of American citizens (64 percent) in a 2011 poll said they “think that global warming is occurring”
<u>Remedy of social problem-</u>
- Reduce, Reuse, Recycle.
- Reduce Waste.
- Upcycle your Furniture.
- Recycle your Clothes.
- Bring your own Shopping Bags
- Replace Regular Incandescent Light Bulb.
- Buy Energy-Efficient Appliances.
- Turn Off the Lights.
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