Answer:
Revenue Principle and Cost Principle
Explanation:
Revenue principle defines a point in time when bookkeepers may record a transaction as revenue on the books. This principle states that revenue for the business is earned and recorded at the point of sale.
Cost Principle states that you should use the historical cost of an item in the books, not the resell cost.
Answer:
Accrual basis accounting
Explanation:
Under Accrual basis of accounting, income is recognized when it is earned and not when actual cash is paid or received.
Under cash basis of accounting, income is only recognized when actual cash is received.
Accrual basis of accounting ensures transactions pertaining to a period are recorded in that period and it depicts more accurate financial picture unlike in cash accounting wherein income for a period might be overstated or understated.
Following cash basis of accounting is not in accord with both US GAAPs (generally accepted accounting principles) and IFRS.
If the government imposes a price ceiling of $4. The quantity purchased by consumers in this market would decline from 4 to 2.
A price ceiling is a situation in which the calculated price is above or below the equilibrium price determined by the market forces of supply and demand. Higher price caps have been shown to be ineffective. It turns out that price caps are very important in the residential rental market.
A price ceiling is the legal maximum price you can pay for goods or services. Governments set price caps to keep the prices of essential goods and services affordable. For example, when Hurricane Katrina hit in 2005, the price of bottled water exceeded $5 a gallon.
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Recorded Plat System describes property by identifying the registered lot and block on a recorded subdivision plat.
Lot and Block Survey machine
additionally called the recorded plat survey system or recorded map survey system. a method used to describe and identify the area of a parcel of land. The lot and block survey gadget is regularly utilized in densely populated metropolitan and suburban regions.
A plat map is a diagram and is used to expose how your purchased assets are divided inside your county, town, or neighborhood. It serves as a manual for a tract of land that has been created by using certified surveyors. The Plat Map is drawn to scale to document the plots of land and property boundaries.
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Return on equity = Earning after tax / Stockholder's equity
⇒ Stockholder's equity = Earning after tax / Return on equity = 205500 / 0.18 = $1,141,666.67