Answer:
b. false.
Explanation:
because it is presented in certain legal contracts as an estimate of otherwise intangible or hard-to-define losses to one of the parties. It is a provision that allows for the payment of a specified sum should one of the parties be in breach of contract.
Answer:
debit to Accounts Receivable for $3,500 credit to Sales for $3,430
Explanation:
Merchandise with a sales price of $3,500 is sold on account with terms 2/10, n/60. The journal entry to record the sale would include a debit to Accounts Receivable for $3,500 credit to Sales for $3,430.
Since the goods were sold on account, it means that it was sold on credit and an entry to cash will be a wrong entry. The right Journal entry will be a debit to accounts receivable for the total amount and a credit to sales for the total amount less the proposed discount amount of 2%
Answer:
Transactional marketing is a strategy that aims to increase efficiency and volume of point-of-sale transactions. ... For example, a business may promote a product by using discounts and coupons; buy one, get one (BOGO) promotions; cash-back offers; mail-in rebates; and in-store or online sales.
Answer:
a) the activities of the various departments in the plant are not homogeneous.
Explanation:
When the activities are homogeneous in nature then common factor for such allocation can be derived.
With that the activities overhead cost would be allocated based on that common factor.
But when the activities are not homogeneous in nature then there can not be any common basis to allocate factory overheads in that case the company uses the plant wide overhead rate that is generally predetermined based on budgets.
Answer:
$1,522
Explanation:
For computing the future value, first we have to determine the simple interest which is shown below:
= Principal × rate of interest × time period
= $1,000 × 5.8% × 9 years
= $522
Now the future value would be
= Principal amount + Simple interest
= $1,000 + $522
= $1,522
First, we simply applied the simple interest formula then we compute the future value by adding the principal amount and the simple interest
