Answer: Option B
Explanation: In simple words, a corporation refers to an entity which has its own separate legal identity from its owners. Generally these entities works on a very large scale and the ownership rights of such companies is divided into many shares which are hold by several different individuals.
The holders of stock of such entities gets return in form of dividend and can resell their shares for capital gain in an open market of securities. As the owner and the company are two different entities the owner is not liable to report for the action of selling shares to the company.
Revenue is the money a company earns from providing services or selling goods to customers
Revenue, which is determined as the average sales price multiplied by the quantity of units sold, is the money made from regular business operations. To calculate net income, expenses are deducted from the top line's (or gross income) total. In the income statement, revenue is referred to as sales.
A company's income is the cash that is generated by its operations. Depending on the accounting technique used, there are various methods for calculating revenue. Sales made with credit will be counted as revenue when it comes to the delivery of goods or services to the customer under accrual accounting. Even if payment hasn't yet been received, revenue may still be recorded in accordance with certain regulations.
To evaluate how successfully a business collects debt, it is important to review the cash flow statement for Revenue.
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Answer:
Explanation:
Fist we should understand 1st and 4th principles.
First principle - "Science, Not Rule of Thumb". It says that we should develop a science for elements of work and do not get stuck in a set routine with the old techniques of doing work. We should be constantly experimenting to develop new techniques which make the work much simpler, easier and quicker. Basically, looking at doing work from the perspective of science and experimenting.
Third principle - "Cooperation, Not Individualism". It says that when people work together there should be cooperation. Managers and employees should work together and jointly achieve results. This increases involvement and responsibility
The first principle is to develop a science for each element of work, whereas the third principle instructs managers to cooperate with employees to ensure that scientific principles are actually implemented is a difference between the first principle and the third principle.
Answer:
Constant, i.e. it will not change.
Explanation:
Here, we can apply the law of demand which states that, holding every other things constant, the higher the price the lower the quantity demanded, and vice versa.
If the total quantity of garbage disposes by each household is considered as the quantity demanded, we can easily examine the effect of changing from fixed weekly fee of $6 for garbage collection to a variable cost which is tags cost $2 each.
Since the the average household disposes of three cans of garbage per week under the $6 fixed cost plan, a change to a $2 per tag for each can of garbage will still give an average of $6 (i.e. $2 multiply by an average of 3 cans of garbage per week) to dispose an average of three cans of garbage weekly.
Since there seems to be no change in the cost of disposing an average of three cans of garbage weekly, the total quantity of garbage collected in the city will be constant, i.e., it will not change.
Answer:
The beginning balance in accounts receivable was: $47,500
Explanation:
Sales reported on the income statement were $385,500, Accounts receivable increased of $385,500 during the period.
Sales, adjusted to a cash basis using the direct method on the statement of cash flows, were $359,000. The company collected $359,000 from the sales. Accounts receivable decreased of $359,000 during the period.
The beginning balance in accounts receivable = The ending balance of accounts receivable + Accounts receivable decreased during the period - Accounts receivable increased during the period = $74,000 + $359,000 - $385,500 = $47,500