1 contract law
2 Something of value must be exchanged between the parties.
3 civil law
Why is the law important?
Laws are created for protect our general safety, and ensure our rights as citizens against abuses by other people, by organization's, and by the government itself. We have laws for help provide to our general safety.
How many kinds of Laws?
Natural or Moral Laws: Natural laws are the belief that certain laws of morality are inherent by human nature, reason, or religious belief.
- Scientific Laws
- Imperative Laws
- Common Laws
- Criminal Laws
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Answer and Explanation:
The journal entry to record the purchase is shown below;
Materials (510 units × $18) $9,180
To Accounts payable $9,180
(To record the purchases)
Here the material is debited as it increased the assets and credited the account payable as it also increased the liabilities
Therefore the above journal entry should be passed
Answer:
$102,000
Explanation:
Calculation to determine What would be the total appraisal cost appearing on the quality cost report
Using this formula
Total appraisal cost=Test and inspection of in-process goods + Final product testing and inspection
Let plug in the formula
Total appraisal cost=$ 24,000+$78,000
Total appraisal cost=$102,000
Therefore What would be the total appraisal cost appearing on the quality cost report is $102,000
Answer:
$32.4 million
Explanation:
The computation of the balance in the deferred tax liability in the December 31, 2021, balance sheet is shown below:
Deferred tax liability is
= Tax depreciation exceeded depreciation for financial reporting purposes × enacted tax rate
= $108 million × 30%
= $32.4 million
Simply we multiplied the exceeded amount with the enacted rate so that the deferred tax liability could come
Answer: to historical performance or budget
Explanation:
A profit center in a business is a division that is able to make revenues independently and contribute to the revenue of the entire business. In evaluating the performance of a profit center manager, it is best to compare the performance to a budget or their historical performance.
This is because profit centers engage in different businesses and so their revenue making style will be unique. Some profit centers will make more than others because of the goods they produce or the way they produce it. It is therefore best to compare a profit center to an internal measure such as the budget and historical performance.
If the profit center exceeds either of these then they are performing well.
