Answer:
True
Explanation:
The liability that has an obligation to pay the debt within 12 month is known as the current liabilities but the obligation to pay the debt above 12 months is known as long term liability
So if the portion of its due in the current year so the same is considered as current liability and rest would be recorded as a long term liability
Hence, the given statement is true
Answer:
about 68% of brand x’s batteries have a lifespan between 95.2 hours and 108.8 hours. about 68% of brand y’s batteries have a lifespan between 98.6 hours and 101.4 hours. the life span of brand y’s battery is more likely to be consistently close to the mean.
Explanation:
According to the empirical rule (68–95–99.7 rule) for a normal distribution, 68% of the data falls within the first standard deviation (μ ± σ).
Given for brand x, mean (μ) = 102 hours and standard deviation (σ) = 6.8 hours.
first standard deviation (μ ± σ) = 102 ± 6.8 = (95.2, 108.8)
about 68% of brand x’s batteries have a lifespan between 95.2 hours and 108.8 hours.
Given for brand y, mean (μ) = 100 hours and standard deviation (σ) = 1.4 hours.
first standard deviation (μ ± σ) = 100 ± 1.4 = (98.6, 101.4)
about 68% of brand x’s batteries have a lifespan between 98.6 hours and 101.4 hours.
Since the standard deviation of brand y is smaller than that of brand x, brand y battery is more likely to be consistently close to the mean
A financial statement audit is the examination of an entity's financial information and accompanying exposures by a liberated auditor.
<h3>What is the main objective of the audit of financial statements?</h3>
The purpose of an audit of financial statements is to enable the auditor to communicate an opinion on whether the financial statements are prepared, in all material respects, by an applicable monetary reporting framework.
External auditors are accountable for auditing the company's financial statements and delivering reasonable assurance that they are presented fairly and following GAAP and that they recollect a true representation of the company's financial position and end of operations.
To learn about financial statements visit the link
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Answer:
The correct answer is letter "B": There is no general rule for when an account becomes uncollectible.
Explanation:
Accounts Uncollectible represent any form of debt as a result of sales on credit that are likely not to be paid. Before classifying debt as uncollectible there is an unset timeframe that may go by.
At first, the sale on credit is considered an account receivable with a payment promise usually of 30 or 90 days. If three month passes but no payment is received, the account is considered aged receivables but if more time goes through without payment, the account then is labeled as doubtful.
Doubtful accounts become allowances if the company decides to take care of the payment of the debt with its own profit. <em>There is no set rule when an account receivable becomes uncollectible. It relies on the judgment of the firm.</em>
Answer:
b.$1,150
Explanation:
Sales Collection $5,000*.98 $4,900
Payment of purchases $5,000*50% ($2,500)
Other payments $5,000*25% ($1,250)
Net Cash flow during a typical month $1,150
