The unearned consulting revenues are liabilities. A liability, in accounting terms, is an obligation and is found in the balance sheets of companies or businesses. When a company does transactions with other individuals or companies usually they owe amounts to creditors for the goods or services the company acquires. In another sense, a liability is a source of the company’s assets. They can also be considered as claims against the company’s assets. A liability may also include those amounts received by the company in advance of future services. Liabilities include accounts payable, notes payable, salaries payable, interest payable, bonds payable, accrued expenses payable, etc. Their normal balance is credit.
Answer:
B.$513,000
Explanation:
The pension liability of a company as at December 31, is to be calculated in the following manner:
Pension liability=Projected benefit obligation-Plan Assets(fair value)
=1,250,000-737,000
=$513,000
So based on the above discussion, the answer is B.$513,000
Answer:
3,000
Explanation:
As the income will be taxed at 25% the income tax liability will be for that amount
12,000 x 25% = 3,000
The tax deferred liability is generated from a temporary difference. The company is paying less income tax today but will pay more in the future. Hence there is a liability.
The accounting reason for this treatment is to match expenses with the time they occur or the revenues which generated.
<u>All answers are correct</u><u> is the correct option .</u>
What is the advantage of federal loans over private loans?
- Private loans and some credit card interest rates are frequently significantly more expensive than the fixed interest rate. Look up the APRs for federal student loans right now.
- The interest rate is predetermined and may be significantly less than those for some credit cards and private loans.
What distinguishes private loans from federal loans?
The main distinction between federal and private loans is that federal loans are provided by the government, whereas private loans are provided by banks, credit unions, and other financial institutions.
Learn more about federal loans
brainly.com/question/16724065
#SPJ4
What is considered a human rights abuse by an American company may be viewed as an acceptable business practice in China, which illustrates that moral standards are <u>relative </u>to particular societies.
<h3>What are moral standards?</h3>
In summary, moral standards are what a person of society considers to be right or wrong regarding human behavior. These standards are often different in the distinct cultures and societies around the world, often due to differing histories that helped to form them.
Therefore, we can confirm that the situation described in the question is a direct result of the moral standards being relative to particular societies.
To learn more about societies visit:
brainly.com/question/8706433?referrer=searchResults
