That statement is true.
This usually happen for the commodities that are very crucial to our everyday lives, such as food, water, or oil.
No matter how much the price of these commodities increases, the demand for them will always remain constant.
Answer:
B. July 31
Explanation:
Revenue recognition principle assumes that revenues are recognized when they are realized or relizable and are earned, in respective of when payments are received.
It states that one should only record revenue when it has been earned, not when the related work payments is collected. Also, money paid in advance for a work should be recorded as a liability not revenue.
Since Live Wire services uses revenue recognition principles, then the day they'd record it as revenue is thesame day the job was done and completed which was July 31st.
Accounting is one of the main components to being able to manage a company, their inventory, assets, revenue and debt. Without the methods of accounting, how would management be able to understand how to business is doing financially so they can continue what they are doing or find new solutions? Management accounting focuses on gathering data from internal and external sources and turning it into factual data that a company uses to make decisions.
Answer:
Bought stocks on credit, thinking the value could only increase.
Explanation:
Currently the securities and exchange commission (SEC) defines buying stocks on credit as buying through a margin account. This was a very common before the 1929 stock crash since investors speculated that the price of stocks would keep increasing. The notion that the stock prices could fall was not something considered possible back then. So when the market stooped growing, and the price of stocks started to lower, investors couldn't pay their loans and even if the securities were held as collateral, their value collapsed. Some people made huge fortunes doing this, but others lost everything.
Answer:
$1.95
Explanation:
$5.85 divided by 3 yards equals $1.95
