Answer: Option B
Explanation: An incidental recipient is an individual or legal entity who's not a participant to an agreement and becomes an accidental recipient of a trust or agreement.
In comparison, some advantages in a contract are explicitly claimed to a planned recipient, although they are not yet party to the agreement themselves. Within certain situations, unintentional beneficiaries are not actually promised any such advantages but could gain from the deal.
Prime cost=direct material+direct labor
Direct material 150000
Direct labor 200000
So
Prime cost=150000+200000
Prime cost=350000
Hope it helps!
Considering filing a law suit costs much time and money, i believe teh answer here is false.
Answer:
The correct answer is option b) $367,000
Explanation:
Here for calculating the correct amount of inventory that Horace should report can be calculated through, by adding the inventory worth $320,000 at 31 December, 2015 with consignment given to Herschel worth $47,000, SO
Correct amount of inventory =
Amount of inventory on 31 December
+
Consignment given to Herschel
= $320,000 + $47,000
= $367,000
Here we are taking Herschel consignment in to account and that too at the historical purchase cost because Horace company has give the Herschel to sell the goods on his behalf but the transfer of ownership has not taken place here , the right to ownership here remains with the Horace and the amount at which they should be recorded is at purchase cost not selling cost.
We will also not include goods worth $ 22,000 in to the calculation because the Horace company has not received the goods physically yet, we will include those goods in to inventory on January 3 not before that.
It is a period of time that the loaning company gives you before you have to start repaying the debt.
For instance: After graduating from college, you must start the payments to pay back your loan 3 months after graduation.
