Answers
Answer:
True.
Explanation:
In Financial accounting, liability can be defined as the amount of money being owed by an individual or organization to another.
Simply stated, liability is a debt being owed and as such it usually has "payable" in its account title on the balance sheet.
Generally, liabilities are recorded on the right side of the balance sheet and it comprises of financial informations such as warranties, bonds, loans, deferred revenues, mortgages, account payable etc.
Current liability in financial accounting can be defined as the short-term financial obligation such as debt (account payable) that is due to be paid in cash within one (fiscal) year or one operating cycle of a company, whichever is longer.
A company's current liability comprises of the following; dividends payable, short-term debts, account payable, notes payable, interest payable, wages payable, deferred revenues, income tax payable, etc.
Basically, companies usually settles their current liabilities with current assets such as account receivables or cash, that are used up within a fiscal year.
Hence, the liability created when supplies are bought on account is called an account payable.
Uy pilipino ka?
#CarryOnLearning
Related Questions
MCQS
(i) Compensation of employees includes ________.
(a) wages, salaries, fringe benefits, Social Security contributions, and health and pension plans
(b) wages, salaries and taxes
(c) wages, salaries taxes and zakat
(d) non of the above
(ii) The difference between the income received from abroad for rendering factor services by the normal residents of the country to the rest of the world and income paid for the factor services rendered by nonresidents in the domestic territory of a country is known as-------
(a) Net Factor Income from Abroad
(b) Capital Consumption Allowances
(c) Depreciation
(d) None of these
(iii) Suppose that in year 1 an economy produces 75 unit of apple that sell for $5 each and 100 mobile that sell for $6 each. The next year the economy produces 110 apple that sell for $3.75 each and 80 mobile that sell for $5 each. The real GDP is
(a) 812.5
(b) 975
(c) 1030
(d) 980
(iv) What of the following does NOT enter GDP?
(a) Public Service
(b) Public education
(c) Life Expectancy
(d) National Defence
(v) The sum of all kinds of income received by the individuals from all sources is called---------
(a) Personal Income
(b) Private Income
(c) Personal Disposable Income
(d) None
Answers
Answer:
MCQS
(i) Compensation of employees includes ________.
(a) wages, salaries, fringe benefits, Social Security contributions, and health and pension plans .
(ii) The difference between the income received from abroad for rendering factor services by the normal residents of the country to the rest of the world and income paid for the factor services rendered by nonresidents in the domestic territory of a country is known as-------
(a) Net Factor Income from Abroad .
(iii) Suppose that in year 1 an economy produces 75 unit of apple that sell for $5 each and 100 mobile that sell for $6 each. The next year the economy produces 110 apple that sell for $3.75 each and 80 mobile that sell for $5 each. The real GDP is
(c) 1030 .
(iv) What of the following does NOT enter GDP?
(c) Life Expectancy.
(v) The sum of all kinds of income received by the individuals from all sources is called---------
(a) Personal Income.
Explanation:
1) Employee Compensation includes the salaries, wages, benefits, and other incentives paid to employees in exchange for their services to the company.
3) The Net factor income from abroad is the difference between the factor income earned from abroad by normal US residents and the factor income earned by non-residents (foreigners) in the US domestic territory.
4) The real GDP is the gross domestic product adjusted for the effect of inflation on prices. The real GDP for year 2 should be based on the prices of year 1 and is calculated as follows (110 * 5 + 80 * 6 = 1030).
5) Personal income is the sum of all kinds of income received by the individuals from all sources. It is used in the calculation of the US GDP. It is a subset of private income. Private income, which is broader than personal income, consists of personal income, profit tax, and undistributed profit.
Then create a newspaper article/blog post/video (information/explanatory writing) to explain the factors a
consumer should consider when buying an automobile.
Answers
A self-propelled passenger vehicle for land transport that typically has four to eight tyres and is powered by an internal combustion engine or an electric motor. Automobile engineering refers to the branches of engineering that deal with the design and manufacturing of automobiles.Automobiles now play a significant role in our lives, which cannot be imagined without the modern world's luxuries. Because the automobile is used for both passenger and cargo transportation, it is a human lifeline. An automobile is a human-controlled vehicle that is not driven by humans.The number of doors, the arrangement of seats, and the roof structure are frequently used to categorise automotive body designs. Roofs on automobiles are traditionally supported by pillars on each side of the body.
To know more about Automobile, click on the link :
https://brainly.com/question/14908350
#SPJ1
The liabilities of Berber Company are $120,000 and the owner's equity is $230,000. What is the amount of Berber Company's total assets?
Answers
Answer:
$350,000
Explanation:
The relationship between assets, liabilities, and equity is expressed in the accounting equation. According to the equation, Assets = Equity plus Liabilities.
For Berber company, total assets will be
Assets = $120,000 + $230,000
Assets = $350,000
how might the use of a stakeholder management tool like the power interest grid or the stakeholder assessment matrix differ by methodology chosen?
Answers
Depending on the chosen technique, the process for using a stakeholder management tool, such as the Power Interest Grid or Stakeholder Assessment Matrix, can vary.
According to their power (influence) and interest (degree of involvement) in a project or organization, stakeholders are evaluated using the Power Interest Grid.
On a matrix with four quadrants, stakeholders are represented as high power, high interest, high power, low interest, low power, low interest, and low power, low interest.
A project's or organization's stakeholders are rated according to their level of influence and impact by the Stakeholder Assessment Matrix.
It is crucial to select a methodology that fits the particular requirements of the project or organization, taking into account the level of analysis that will be needed, the data that is at hand, and the intended results.
Learn more about stakeholder management, here:
https://brainly.com/question/4404879
#SPJ1
5. The process of production is complete
when...
A.goods of the right quality and
quantity reach the consumers.
B.the manufacturer produces a given
amount of goods.
C. retailers prepare goods for sale to consumers.
D. wholesalers buy goods from the
manufacturer.
Answers
The process of production is complete when retailers prepare goods for sale to consumers. Hence, Option C is correct.
What is the production process?Capital, labour, technology, land, and other resources are considered factors of production because they are utilised to produce output, which includes commodities and services.
One of the most crucial procedures in manufacturing is production, which is essential to understanding what it means to be a manufacturer. Without this activity, there would be nothing produced that could be sold to buyers as finished goods.
Therefore, Option C is correct.
Learn more about production process from here:
https://brainly.com/question/29355290
#SPJ1
deduct their unreimbursed business expenses, while self-employed individuals can deduct their business expenses
Answers
Workers deduct their unreimbursed business expenses, while self-employed individuals can deduct their business expenses
What is meant by the business expenses?The Internal Revenue Service (IRS) defines business expenses as regular and required expenditures made to run your business. Rent, salary, and inventory are a few examples. Regular and stable fixed expenses include things like rent and insurance. Although expected, variable costs are subject to fluctuate.
Costs incurred in the regular course of business are referred to as business expenses. They can be used by both big and small businesses. The income statement includes expenses related to the business.
Read more on business expenses here: https://brainly.com/question/14697297
#SPJ1
Question 2. (6)
Briefly explain why Investors, Competitors and Suppliers take interest in
accounting information related to a business. (Please include examples)
Answers
Answer:
They like googIe
Explanation:
q Conflict Consequences 2 Difference between critical and Creative thinking. 3. Positive Use & Teisure time 41m Portance & Self Identity Svalues associated with creative Thinking
Answers
Critical thinking involves analyzing and evaluating information, while creative thinking involves generating new ideas and solutions. Positive use of leisure time includes engaging in activities that promote personal well-being, learning, self-improvement, socializing, and exploring new experiences.
Difference between critical and creative thinking:
Critical thinking is a cognitive process that involves analyzing and evaluating information or arguments in a logical and systematic manner. It focuses on objective analysis, reasoning, and problem-solving. Critical thinking requires the ability to question assumptions, recognize biases, and assess evidence to form well-reasoned judgments or decisions.
On the other hand, creative thinking involves generating new ideas, insights, or solutions. It is a process of divergent thinking, breaking away from conventional thoughts and exploring alternative perspectives.
Creative thinking often involves combining different ideas, making connections, and thinking outside the box. It encourages imagination, flexibility, and the ability to embrace uncertainty.
While critical thinking aims to assess and evaluate existing information or arguments, creative thinking aims to generate new possibilities or approaches. Critical thinking seeks to analyze and deconstruct, while creative thinking seeks to synthesize and construct.
Positive use of leisure time:
Leisure time refers to the period when individuals are free from work or other obligations and can engage in activities of their choice. Positive use of leisure time involves engaging in activities that contribute to personal well-being, growth, and fulfillment. Here are some examples:
Pursuing hobbies and interests: Engaging in activities such as painting, playing a musical instrument, gardening, or sports can provide relaxation, personal enjoyment, and a sense of accomplishment.
Learning and self-improvement: Using leisure time to learn new skills, read books, take online courses, or engage in personal development activities can enhance knowledge, broaden perspectives, and foster personal growth.
Physical and mental well-being: Allocating leisure time for exercise, meditation, yoga, or other wellness activities promotes physical fitness, reduces stress, and enhances overall well-being.
Socializing and building relationships: Spending leisure time with family, friends, or participating in community activities helps foster social connections, build relationships, and strengthen support networks.
Exploring new experiences: Traveling, visiting museums, attending cultural events, or trying new cuisines broadens horizons, provides exposure to different cultures, and creates memorable experiences.
For more such question on information. visit :
https://brainly.com/question/24553900
#SPJ8
ABC Company's production budget for October is based on 500 units. Standard unit cost for raw materials is $130 per unit ($10 per pound x 13 pounds per unit).
ABC's actual production in October= = 525 units.
The actual cost of materials used = $69,300 ($11 per pound x 12 pounds per unit).
Required:
a. Calculate the raw materials price variance for October. Is it favorable or unfavorable?
b. Calculate the raw materials usage variance for October. Is it favorable or unfavorable?
Answers
Answer and Explanation:
The computation is shown below;
a. Raw material price variance is
= (standard price - actual price) × actual quantity
= ($10 - $11) × ($69,300 ÷ $11)
= ($10 - $11) × 6,300
= $6,300 unfavorable
b. The raw material usage variance is
= (Standard quantity - actual quantity) × standard price
= (525 × 13 - 6,300) × $10
= $5,250 favorable
In this way it should be calculated
Carole was an avid investor. She purchased 500 shares of common stock for GH Inc. based on an article she read about the publicly traded company.
Which of the following would Carole be considered?
•
A partner in GH Inc.
•
A member of the Board of Directors of GH Inc.
•
A stockholder of GH Inc.
•
A corporate officer of GH Inc
Answers
Answer:
Option C
Explanation:
Carole has 500 shares and thus he is the share holder of the GH Inc. Since a shareholder is equivalent to some one who holds the company's stock and hence Carole can be considered as stock holder too. Stock holders are not member of board of directors however, they vote while selection of members of board of directors.
The are not partners as they have no share in investment and profit.
Thus, option C is the correct answer
Changes in the market environment impact _____
how competitive the marketplace is
how many offerings are available
how many marketing communication channels are used
how consumers behave
Answers
Changes in the market environment impact how competitive the marketplace is, how many offerings are available, how many marketing communication channels are used, and how consumers behave.
Aspects of the business landscape are significantly impacted by changes in the market environment. First and foremost, they have an impact on the level of market competition because changes in variables like technology, rules, and consumer preferences can affect how businesses compete with one another.
Changes in the market environment can also have an impact on the variety and range of goods and services that are offered to customers. New technologies and trends have an impact on how businesses communicate with their target audiences through marketing channels. Last but not least changes in the market environment such as those in the economy in social trends and in technological advancements have a significant impact on consumer behavior causing changes in buying patterns and preferences.
To know more about market environment here
brainly.com/question/34360169
#SPJ2
explain sales and purchase documents
Answers
Answer:
A sales and purchase agreement (SPA) is a binding legal contract that obligates a buyer to buy and a seller to sell a product or service.
Explanation:
Which Thomas says generic action options for managing diversity is most illustrated in the case?
Answers
The person in history named Thomas who is often associated with discussing generic action options for managing diversity is Thomas Roosevelt. He was an American sociologist and advocate for civil rights who emphasized the importance of promoting diversity and equal treatment in society. However, please note that without further context or specific information about a case, it is difficult to provide a more precise answer.
4.2.9 Quiz: Selecting a Candidate and Making an Offer
Question 9 of 10
Which of the following is a way for an HR department to ensure it is following
up with job candidates in an EEO-compliant manner?
OA. They ensure that they have asked job candidates about their
willingness to work weekends.
OB. They ensure that have look at their budget before making a firm
offer on the wage or salary.
OC. They ensure that they ask job candidates about why they left their
last job or position.
OD. They ensure job candidates have been recruited from a wide
variety of minority channels.
Answers
One way that an HR department can ensure it is following up candidates right is D. They ensure job candidates have been recruited from a wide variety of minority channels.
What is EEO Compliance ?It is crucial for organizations to maintain a diverse candidate pool as it upholds EEO compliance, thereby preventing discrimination and enabling equal opportunities, adopting various minority channels in the recruitment process guarantees unbiased consideration of applicants from distinct backgrounds, which counters traditional recruitment methods that may be partial to certain groups.
Through this approach, HR departments can ensure impartiality and inclusivity in their hiring processes while serving the organization's overall best interests.
Find out more on HR Departments at https://brainly.com/question/18651669
#SPJ1
Deciding what data to collect, actually collecting the data and analyzing it, and reporting this data are all parts of structuring a project monitoring information system.
A) true.B) false
Answers
Answer:
The correct answer is the option A: True.
Explanation:
To begin with, the concept of "Monitoring Information System" in the field of business and in the techonolgy areas is refered to the type of system that is used with the main purpose of allowing the users to capture data, process and dissenimate information in a systematic way in order to improve the velocity of the time used to accomplish those tasks in the organization. Moreover, when it comes to aggregating the "project" part in the term, the system focuses in the recollection of data and its analysis and use in order to help the project to complete what it needs to.
All of the following statements are true regarding an application by an insurer for a rate change EXCEPT
A. The application will be deemed approved 60 days after public notice unless the proposed adjustment exceeds 10% for personal lines or 25% for commercial lines.
B. The Commissioner will notify the public of any application by an insurer for a rate change.
C. The application will be deemed approved 60 days after public notice unless a consumer requests a hearing and the Commissioner grants the hearing.
D. The application will be deemed approved 60 days after public notice unless the Commissioner on his or her own motion determines to hold a hearing.
Answers
All of the following about an insurer's request for a rate change is accurate, with the exception that unless a customer asks for a hearing and the Commissioner permits it, the proposal will be presumed accepted 60 days after public notice. The right response in this case is option C.
An insurance company's request to alter the rates it charges for its insurance policies is referred to as an "application by an insurer for a rate modification." This might involve requests for premium increases, decreases, or other modifications to the policies terms and conditions.
For a number of reasons, insurance firms may submit applications for rate modifications. For instance, they can try to raise their rates if the price of providing coverage rises due to higher claim payments or changes in the price of medical treatment.
Additionally, they could try to modify their rates in reaction to shifting market dynamics like heightened competition or shifting client demand.
To learn more about insurance
https://brainly.com/question/27822778
#SPJ4
Gross Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2019. Its inventory at that date was $1,100,000 and the relevant price index was 100. Information regarding inventory for subsequent years is as follows: Inventory at Current Date Current Prices Price Index December 31, 2020 $1,284,000 1.07 December 31, 2021 1,450,000 1.25 December 31, 2022 1,625,000 1.30 What is the cost of the ending inventory at December 31, 2020 under dollar-value LIFO?
Answers
Answer:
$1,281,200
Explanation:
Gross Corporation
Ending inventory
2019 1100000
2020 1284000/1.07 = 1200000
Ending Inventory(1100000+100000*1.07) = 1207000
2021 1450000/1.25 = 1160000
Ending inventory(1100000+60000*1.07) = 1164200
2022 1625000/1.30 = 1250000
Ending inventory(1164200+90000*1.30) = $1281200
Therefore the cost of the ending inventory at December 31, 2020 under dollar-value LIFO will be $1,281,200
Bryant Manufacturing produces its product in two sequential departments. During October, the first process finished and transferred 300,000 units of its product to the second process. Of these units, 60,000 were in process at the beginning of the month and 240,000 were started and completed during the month. At month end, 40,000 units were in process. Using the FIFO method, compute the number of equivalent units of production for direct materials for the first process for October assuming that all direct materials are added to products when processing begins.
Multiple Choice
280,000.
240,000.
340,000.
300,000.
200,000.
Answers
The number of equivalent units of production for direct materials for the first process in October, using the FIFO method, is 280,000 units. Option A.
To calculate the equivalent units of production for direct materials using the FIFO method, we need to consider the units that were completed and transferred out during the month and the units that are still in process at the end of the month.
In this case, 240,000 units were started and completed during the month. These units are considered fully processed and are counted as equivalent units.
Additionally, 40,000 units were in process at the end of the month. These units are partially processed and need to be accounted for.
Therefore, the total equivalent units of production for direct materials for the first process in October, using the FIFO method, is:
Equivalent Units = Units completed and transferred + Units in process
Equivalent Units = 240,000 units + 40,000 units
Equivalent Units = 280,000 units
Thus, the correct answer is 280,000. SoOption A is correct.
For more question on equivalent visit:
https://brainly.com/question/29754038
#SPJ8
pollard enters into a sales contract to purchase a specific picasso painting from jenson for $15 million. when pollard tenders payment, jenson refuses to sell the painting. which of the following remedies can pollard exercise to retrieve the painting from jenson?
Answers
There are several remedies that Pollard can exercise to retrieve the painting from Jenson's specific performance, rescission, damages, and Injunctions.
Specific Performance: Pollard can seek a court order for specific performance, which would require Jenson to sell the painting to Pollard as agreed upon in the sales contract.
Rescission: Pollard can seek to have the contract rescinded, which would undo the contract and return both parties to their original positions. Pollard would be entitled to a refund of the $15 million payment.
Damages: Pollard can seek damages for the breach of contract, which would compensate Pollard for any losses suffered as a result of Jenson's refusal to sell the painting.
Injunctions: Pollard can seek an injunction, which would prohibit Jenson from disposing of the painting or otherwise preventing Pollard from taking possession of it.
To learn more about rescission
https://brainly.com/question/30031740
#SPJ4
what is enterprenuer
Answers
Answer:
person who have an idea to start a business
Answer:
a person who starts up a business in order to make profit
What is true about early managers?
Answers
Answer:
Well there Hell to work with they think everything belongs to them and there just brats.
Explanation:
Turnbull Corporation is constructing an office building that it will use in its business. Construction of the building started in the current accounting period Turnbull paid its builder $250,000 toward construction of the building. During the period Turnbull had outstandingjilebt of $200,000 with an interest rate of 6% and pays interest at the end of the period. What amount of interest should Turnbull include in the cost of the building from the current period?
A. $0
B. $3,000
C. $12,000
D. $15,000
Answers
Answer: $12000
Explanation:
The amount of interest should Turnbull include in the cost of the building from the current period will be calculated as the outstanding debt multiplied by the interest rate. This will be:
= $200,000 × 6%
= $200,000 × 6/100
= $200,000 × 0.06
= $12,000
Therefore, the correct option is C.
6
Select the correct answer from each drop-down menu.
Complete the following statements.
A
entire amount at the end of the
allows consumers to make purchases at specific retailers using credit. Users of this type of card must pay the
Reset
Next
Answers
Complete the following statements.
A credit card allows consumers to make purchases at specific retailers using credit. Users of this type of card must pay the entire amount at the end of the billing cycle.
For more such answers on credit card
https://brainly.com/question/26857829
#SPJ8
Given the following data below, find:
Normal
Time (days) Cost
Crash
Time (days) Cost
US
es
les
Activitiy
1,2
1,3
2,4
2,5
3,4
4,5
80
150
60
100
140
60
490
80
1. The network diagram
2. Number of Paths (Durations for each path)
3. Critical Path (Duration)
4. Reduce the project to 10 days. Calculate the final cost. Now,
Answers
Total Project Costs potential the total quantity of money required to complete the Project.
Total Project Costs capability the Contribution and other verifiable cash or in-kind contributions either acquired or contributed by way of the Proponent and at once attributable to the Project.
What is whole assignment cost?Consists of all costs particular to a task incurred prior to the start-up of facility operation. All lookup and development, operating, plant, and capital equipment fees particularly associated with a project.
Costs are widely categorised into 4 types: fixed cost, variable cost, direct cost, and oblique cost. The whole value is the sum of constant charges and variable costs.
Learn more about final cost here:
https://brainly.com/question/481029#SPJ1The Federal Reserve reduces the money supply by 5%. Which curve shifts in this scenario in the short run, and why?Question 8 options:LRAS shifts to the left because less money causes things to fall apartLRAS shifts to the right because higher interest rates create capital in the short runAD shifts to the left because higher interest rates encourage firms to start fewer investment projectsAD shifts to the right because higher interest rates encourage people to consume moreNone of the above
Answers
The correct answer is "AD shifts to the left because higher interest rates encourage firms to start fewer investment projects."
When the Federal Reserve reduces the money supply, it leads to higher interest rates, making borrowing more expensive. As a result, firms reduce their investment spending, causing a decrease in aggregate demand (AD). Therefore, the AD curve shifts to the left in the short run. This decrease in investment also leads to a decrease in real GDP and employment in the short run.The Federal Reserve, often referred to as the "Fed," is the central bank of the United States. It is responsible for implementing monetary policy, regulating banks, and maintaining financial stability. The Fed also issues the US dollar and plays a critical role in the country's economy.
Learn more about federal reserves here:
https://brainly.com/question/17097530
#SPJ11
The young woman's proposal seems to be
by company policy.
Answers
The young woman's request doesn't appear to be covered by company policy.
What is a business?A corporate structure that is distinct from its owners legally is a company. Due to additional accounting rules and higher-level legal obligations, the business structure is more complex and has greater setup and administrative costs.
How can a firm be described as a business?Due to the desire of its employees to create value, a business is referred to as a company.Old French, which means compaignie or companionship, is where the word "company" first appeared.
To know more about company visit :
https://brainly.com/question/29354835
#SPJ1
A firm has $800 in inventory, $1,400 in fixed assets, $500 in accounts receivables, $100 in net working capital, and $50 in cash. What is the amount of the current liabilities
Answers
Answer:
Add it all Together?
Explanation:
2850?
Limitation of scientific management
Answers
Answer:
Exploitative Devices: Management did not share benefits of increased productivity and so economic welfare of workers was not increased. 2. Depersonalized work: Workers were made to repeat the same operations daily which led to monotony
we are twins me and streoberrie
Answers
Answer:
wow thats very cool nice
Answer:
thats not even u.. ion look like that either, dont b lying on the internet.
Explanation:
the picture i linked is me.
Which of the following requires work in utility operation to create energy for
other people?
A. sewers
B. water
C. oil and gas
Answers
Oil and gas
Utilities (water, electricity and gas) are essential services that play a vital role in economic and social development. Quality utilities are a prerequisite for effective poverty eradication. Governments are ultimately responsible for ensuring reliable universal access of service under accountable regulatory frameworks. Increased competition in the utilities sectors in recent years has entailed changes in regulatory frameworks and ownership structures of enterprises, in addition to business diversification. These have impacted job security and working conditions in the sector. Adequate staffing levels and training in the use of new technologies are important for ensuring efficiency and safety in the workplace