Answer:
A. Earned.
Explanation:
The accrual basis of accounting applicable to proprietary fund types requires that exchange revenues be recognized when <u>earned.</u> In Accrual Accounting, revenue is recognized when it is earned and is recognizable to be collected in future, not when cash is received against that revenue.
Answer: Reduce output
Explanation:
According to the given question, the barrel O' Biscuits is one of the type of perfectly competitive organization in which its overall marginal cost increasing the company's marginal revenue.
For maximizing the profit of an organization then we should reduce the output as in the perfect competition the company majorly affected the output only and for shift the overall marginal cost of the company we reducing the output.
Therefore, Reduce output is the correct answer.
Answer:
Retain Replace Net income
Increase/Decrease
Variable manufacturing costs 4241300 3205300 1036000
New machine cost 0 378500 -378500
Sell old machine 0 -34700 34700
Total 4241300 3549100 692,200
Conclusion: The old factory machine should be replaced as its net income is lesser
Workings
Variable manufacturing costs
a. Retain Equipment = 605900*7 = 4241300
b. Replace Equipment =457900*7 = 3205300
5-7 The types of procedures and their definitions are as follows. (1) Inspection of records or documents consists of inspection of internal and external records or documents on paper, electronic or other media.
External evidence is considered more reliable than internal evidence because it is in the hands of both the client and another party. This means acceptance of the information and conditions contained in the document.
Internal documents are records created and kept within a company. Documents are used to support organizational processes. Examples of internal documents include employee time cards and timesheets, production schedules, purchase requisitions, receipt reports, sales orders, and disposal approvals.
Learn more about documents at
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Answer:
Explanation: The recent Supreme Court decisions provides hope to those championing state sovereignty.
In National Federation of Independent Business (N.F.I.B.) v. Sebelius, a majority of the court determined that the individual mandate under the health care act exceeded Congress’s commerce clause power.
In Shelby County v. Holder, the court held that Congress unconstitutionally infringed on state sovereignty by using an outdated formula under the Voting Rights Act to decide which states had to get federal approval before changing their voting laws.
In United States v. Windsor, the court emphasized that the Defense of Marriage Act was unconstitutional in part because the regulation of domestic relations has always been left to the exclusive province of the states.
The Supreme Court has been the last arbiter of the balance between state and federal power, and that balance is dictated by the narrowest of margins. Consequently, federal politics, including the next Supreme Court appointment, may determine the scope of state sovereignty for years to come.