Answer:
here correct option is A. $7,000
Explanation:
given data
Stripling earned = $700,000
collected cash = $710,000
company wrote off = $8,000
revenue = 1 %
to find out
net realizable value of receivable
solution
we will find here amount of uncollectible expense that are for year 2
amount of uncollectible expense = Sales revenue for year 2 × revenue %
put here value we wet
amount of uncollectible expense = $700,000 × 1 %
amount of uncollectible expense = $700,000 × 0.01
amount of uncollectible expense = $7,000
so here correct option is A. $7,000
B) Guelph, a small city outside of Toronto, Ontario, that maintains an investment account at a brokerage house to invest surplus funds.
C) A child prodigy for whom his mother, as custodian, opened an account at a major securities firm.
D) XYZ Dry Cleaners, Inc., whose shareholders all work on the premises and also offer financial advice to customers who request it.
Answer:
C) A child prodigy for whom his mother, as custodian, opened an account at a major securities firm.
Explanation:
The Uniform Securities Act is statute that guides state on how they design their securities laws. The Security and Exchange Commission set up these guides to protect investors from securities fraud at the state level
According to the Uniform Securities Act a person is an individual, trust, corporation, unincorporated company, government, or a division of government that enters into a legal contract.
A child is not able to enter into a legally binding contract, so they are not considered to be a person according to the Uniform Securities Act.
An adult can be the only individual considered as a person. They can open the account on behalf of the child
Market testing is the stage of the new product process that involves exposing actual products to prospective customers under realistic purchase conditions to see if they will buy.
Market Testing is the final step before introducing a product to the market and typically involves testing the product under real-life conditions and gathering feedback from prospective customers. Market testing typically involves trial runs of the product, allowing prospective customers to try out the product and provide feedback.
Market testing is important to ensure that the product is successful and appealing to the target market. This feedback can be used to make improvements to the product before its launch. Additionally, market testing helps to create buzz and excitement about the product before its launch, allowing the product to have a successful start.
For more such questions on Market testing.
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B) Fixed cost
C) Cost-based
D) Variable
Answer:
C) Cost-based
Explanation:
Cost-based based pricing is a pricing strategy where price is a mark up of cost of production. Price is the sum of cost of production and an extra amount to account for profit.
Value based pricing is setting prices at the consumers' perceived value for the product.
Fixed pricing is when price remains unchanged over a long period of time.
Variable pricing is when price changes based on location, region and other factors
I hope my answer helps you
Answer:
Bonds payable 174,000 debit
loss on redemption 23,739 debit
discount on BP 16,779 credit
Cash 180,960 credit
--to record the redemption of bonds --
Explanation:
redemption value: 174,000 x 104% = 180,960
carrying value of the bonds: (157,221)
loss on redemption of BP 23,739
There is a loss as the present value of the bonds is lower than we are paying for them
face value 174,000
carrying value (157,221)
discount 16,779
there is a discount as the carrying value of the bon is lower than the face value
We write-off the bonds accounts and declare the loss we also credit the cash used.
if the advance is not repaid before the grace period and penalty fees are triggered
from the day money is borrowed and membership fees are triggered
if the advance is not repaid before the grace period and transaction fees are triggered