Answer:
A) experience rating.
Explanation:
In Insurance, An experience rating is a rating method used by the insurance company to calculate workers' compensation insurance and to determine the amount of loss that an insured party experiences compared to the amount of loss that similar insured parties experienced.
EFG Company's managers could use it to calculate their experience modification factor i.e premiums up or down.
Answer:
Increase in Cash/bank = $1000+ $26 = $1026
Decrease in Cash/bank = $76+$260 = $336
Explanation:
The entries for each transaction is as follows:
1- Bank service charges:
Service charges exp Dr $76
Bank Cr $76
(Note: Bank has provided us with banking services, the charges of which is an expense for Bourne incorporated and the settlement of which will reduce our bank balance, a credit.)
2- NSF check from a customer:
Entry:
Acc receivable Dr $260
Bank Cr $260
(Note: A NSF check is a non-sufficient funds check which implies that the customer doesn't have sufficient funds to pay for whatsoever services rendered by us. Upon receipt of such a check we must have increased our bank and decreased our receivable but since it has been dishonored we need to reverse the entry by decreasing our bank and increasing our receivable balance until it's settled by the customer.)
3- Customer's note receivable collected by the bank:
Entry:
Bank Dr $1000
Receivable Cr $1000
(Note: Bank has received a note against a receivable which results in an increase in our bank balance and decrease in or respective customer account and/or receivable.)
4- Interest earned:
Entry:
Bank Dr $26
Interest income Cr $26
(Note: The money deposited by Bourne Incorporated has earned interest which by nature is an income for Bourne. So Bank is debited and interest income is credited to increase both bank and income simultaneously.)
Basic earnings per share is calculated as net income available to common shareholders weighted average common shares outstanding.
<h3>What is basic earnings per share?</h3>
Basic earnings per share is the share of a firm's net income that is available to each unit of its common outstanding shares. Basic earnings per share differs from diluted earnings because it excludes preferred shares from its calculations.
Basic earnings per share = (net income - proffered shares) / common outstanding shares
To learn more about basic earnings per share, please check: brainly.com/question/7303176
Answer: D -LIFO results in a higher net income than FIFO when costs are falling.
Explanation:
The LIFO and FIFO are methods of accounting for inventory.
LIFO means last in, first out. It means the last inventory purchased is the first inventory sold.
FIFO means first in,first out. It means older inventories are sold off first.
During period of rising prices, LIFO results in lower net income because the Cost of Goods Sold is higher. Inventories cost more during periods of rising prices.
When prices are falling , the LIFO method results in a lower cost of goods sold and therefore a higher net income.
