Answer: II Contributions to the separate account are not tax deductible
III Earnings in the separate account build tax-deferred
Explanation:
Variable Annuities represent an investment vehicle where one puts money in a certain type of investment with the goal being that they will earn an income in retirement which is dependent on how their chosen investment performed therefore making the payout variable.
Contributions to the separate account are not tax deductible. The tax advantage of Variable annuity contracts instead is that the income earned from the annuity gets to build tax-deferred with taxes only applying to them when a withdrawal is made.
What capability of SuperGroup would be considered costly to imitate?
a. The Superdry brand
b. Expertise of senior management
c. Its owner-entrepreneurial style of management
d. Its rate of expansion
Answer:
The capability of SuperGroup that would be considered costly to imitate is:
a. The Superdry brand
Explanation:
According to SuperGroup “the Superdry brand is at the heart of the business.” The brand targets discerning customers who seek to purchase “stylish clothing that is uniquely designed and well made.” The brand has “wide appeal, capturing elements of ‘urban’ and ‘streetwear’ designs with subtle combinations of vintage Americana, Japanese imagery, and British tailoring, all with strong attention to detail.” Historically, the brand targets "customer—teens and those in their early twenties." Customers love the Superdry products as well as the “theatre and personality” of the stores in which they are sold. The brand is sold with “personalized shopping experiences that enhance the brand rather than just selling clothes.”
If Indiana Ink, Inc. has net sales of $400,000 and cost of goods sold of $300,000, Indiana Ink's gross profit rate is:
Answer:
Gross profit rate= 0.25
Explanation:
Giving the following information:
Indiana Ink, Inc. has net sales of $400,000 and the cost of goods sold of $300,000.
To calculate the gross profit rate, we need to use the following formula:
Gross profit rate= gross profit / sales
Gross profit= sales - COGS
Gross profit rate= 100,000/400,000
Gross profit rate= 0.25
One problem with the learning strategy for minimizing resistance to change is that it:_____.
a. tends to change people too quickly.
b. leads to long-term antagonism with the change agent.
c. creates compliance but not commitment to the change process.
d. is potentially costly and may not benefit employees at large.
e. attempts to change the drives instead of reducing the restraining forces.
Answer:
c. creates compliance but not commitment to the change process.
Explanation:
Changes occur throughout the organization determined by internal or external factors, but always so that the organization can continue to operate effectively and achieve its objectives. Therefore, when there are changes, there may also be resistance from a large part of the collaborators, due to the fact that the changes can generate insecurity of what is unknown.
It is ideal that there is a process of minimizing resistance to change that aggregates different strategies, in the case of the above question, the learning strategy is beneficial for reducing resistance to change, but if used as a single strategy it can create conformity, but not compromise with the change process.
Ideally, there are different strategies for reducing resistance, such as communicating change in an assertive way, clearly informing the pros and cons of a change, in addition to resolving conflicts, opening up to feedback and doubts, the monitoring and tracking change, learning, etc.
Answer:
D. is potentially costly and may not benefit employees at large.
Explanation:
Directly from Organization Behavior -
Learning - Employees learn how to work in teams as company adopts a
team-based structure.
When applied: When employees need to break old routines and adopt new role patterns.
Problems: Time-consuming, potentially costly, and some employees might not be able to learn the new skills.
An issue of common stock has just paid a dividend of $2.00. Its growth rate is equal to 4%. If the required rate of return is 7%, what is its current price
Answer:
The answer is $69.33
Explanation:
The formula to solve this is:
P = D1/r - g
P is the Curren price of the common stock
D1 is the future dividend payment
r is the rate of return
g is the growth rate
D1 is $2 x 1.04 = $2.08
r = 7% or 0.07
g= 4% or 0.04
2.08/0.07-0.04
2.08/0.03
=$69.33.
Therefore, the current share price of the common stock is $69.33
The Baldwin company will sell 100 units (x1000) of capacity from their Baker product line. Each unit of capacity is worth $6 plus $4 per automation rating. The Baldwin company will sell the capacity for 35% off. How much do they receive when the capacity is sold? Select: 1Save Answer $3,400,000 $1,870,000 $1,190,000 $2,210,000
Answer: $2,210,000
Explanation:
From the question, we are informed that the Baldwin company will sell 100 units (x1000) of capacity from their Baker product line and that each unit of capacity is worth $6 plus $4 per automation rating.
We are further told that the Baldwin company will sell the capacity for 35% off. The amount they'll receive when the capacity is sold will be:
The cost per unit will be
= 6 + (4 × 7)
= 34
The worth of the capacity will now be:
= 100000 × 34
= 3,400,000
The amount received will be:
= 3400000 × (1-35%)
= 3400000 × 0.65
= $2,210,000
A high earning individual can open and contribute to which of the following accounts?
A. UGMA account
B. ROtH IRA
C. Coverdell ESA
Refer to the following selected financial information from our company. Compute the company's profit margin for Year 2.
Year 2 Year 1
Net sales $478,500 $426,250
Cost of goods sold 276,300 250,120
Interest expense 9,700 10,700
Net income before tax 67,250 52,680
Net income after tax 46,050 39,900
Total assets 317,100 288,000
Total liabilities 181,400 167,300
Total equity 135,700 120,700
a. 14.1%.
b. 11.7%.
c. 9.6%.
d. 16.7%.
e. 33.9%
Answer:
a. 14.1%
Explanation:
Year 2
Net Profit Margin = Earnings Before Tax / Sales × 100
= $ 67,250 / $478,500 × 100
= 14.05 or 14.1 %
Jeffreys Company reports depreciation expense of $52,000 for Year 2. Also, equipment costing $176,000 was sold for a $11,200 loss in Year 2. The following selected information is available for Jeffreys Company from its comparative balance sheet. Compute the cash received from the sale of the equipment.
a. $72,800.
b. $40,000.
c. $51,200.
d. $52,000.
e. $28,800.
Answer:
a. $72,800
Explanation:
Note: This is an incomplete question as the concluding parts are gotten from the internet.
Accumulated depreciation - equipment
year 2 $476,000, year 1, $560,000
To get cash received from the sale of the equipment, we will calculate it as
= Change in accumulated depreciation - loss on sale of equipment,
Where;
Change in accumulated depreciation = Year 1 balance - Year 2 balance
= $560,000 - $476,000
= $84,000
Whereas the loss on sale of equipment is $11,200
Therefore;
Cash received = $84,000 - $11,200
= $72,800
Which of the following is NOT one of the appeals of diversifying into unrelated businesses?
a) The relative ease of growing shareholder value by capturing cross-business financial synergies that will quickly drive the company's overall financial performance to higher levels.
b) The ability to employ company's financial resources to maximum advantage by (1) investing in whatever industries offer the best profit prospects and (2) diverting cash flows from company businesses with lower growth and profit prospects to acquiring businesses with higher growth and profit potentials.
c) The potential to better stabilize company profitability over the course of economic upswings and downswings (because market downtrends in some of the company's businesses may be partially offset by cyclical upswings in its other businesses, thus producing somewhat less earnings volatility).
d) The ability to grow shareholder value by exploiting the business acumen of corporate executives in spotting bargain-priced companies with big upside profit potential or in quickly turning around distressed businesses with infusions of cash and superior managerial know- how. and expanding
e) The merits of scattering business risk over a set of truly diverse industries (as opposed to only owning businesses with related value chain activities).
Answer:
a) The relative ease of growing shareholder value by capturing cross-business financial synergies that will quickly drive the company's overall financial performance to higher levels.
Explanation:
The first option is not a benefit of entering/diversifying into an unrelated business because growing shareholder value in this way is not easy. Entering a totally unrelated business(like a product in another industry for example) to the business the company is currently in may very well diversify anD spread out the risks but isn't easily achievable in the sense that it is not easy to succeed since this is a new business that the company is venturing into and would have to work towards securing it's space in the market. Therefore growing shareholder value in this way won't be easy as shareholders may also retract
Life is good® developed the "Good Karma" line of environmentally friendly 100% organic cotton apparel. The production of the Good Karma line is consisten with a_____orientation.
a) societal marketing
b) supplier.
c) sales.
d) production.
e) philanthropic.
Answer:
I believe the answer is A.
Hope this helps! （づ￣3￣）づ╭❤～
Explanation:
"Societal marketing is a marketing concept that holds that a company should make marketing decisions not only by considering consumers' wants, the company's requirements, but also society's long-term interests."
Find the amount of each payment to be made into a sinking fund so that enough will be present to accumulate the following amount. Payments are made at the end of each period. The interest rate given is per period.$91,000; money earns 5% compounded quarterly for 4 3/4 years.A) $4,272.95B) $1,949.47C) $887.26D) $1,885.50
Answer:
A) $4,272.95
Explanation:
The computation of the amount of each payment made into a sinking fund is shown below:
= (Payment × interest rate) ÷ (1 + interest rate)^time - 1
where,
Interest rate is
= 5% ÷ 4
= 0.0125
And, the time is
= 19 ÷ 4 × 4
= 19
Now place these values to the above formula
So,
= ($91,000 × 0.0125) ÷ (1 + 0.0125)^19 - 1
= $4,272.95
hence, the correct option is A.
the linen department had net sales of $80,000. there was a 2% loss, and the gross margin was 46%. determine the operating expenses of the department and express the result in dollars and as a percentage
Answer:
48%
Explanation:
Net sales of $80,000
A 2% loss
Gross margin was 46%
Profit Loss = 2% - $80,000
= 0.02 * $80,000
= $1,600
Gross margin = 46% * Profit loss
= 0.46 * $80,000
= $36,800
Net Profit = Gross Margin - Operating Expenses
-$1,600 = $36,800 - Operating Expenses
Operating Expenses = $36,800 + $1,600
Operating Expenses = $38,400
Operating Expenses % = Operating expenses / Net sales
Operating Expenses % = $38,400 / $80,000
Operating Expenses % = 0.48
Operating Expenses % = 48%
______________ give government the power to block certain mergers, and in some cases, to break up large firms into smaller ones.
Answer:
Antitrust law
Explanation:
Antitrust law are a collection of federal and state laws which is meant to create a conducive atmosphere for businesses to operate, such that there would be healthy competition among businesses. This law cut across all sectors such as transportation, health, manufacturing industries etc.
Examples of law promulgated for antitrust are the Sherman act, the Clayton act; all of which are responsible for the prohibition of certain practises by business such as illegal price fixing and corporate mergers which could hinder a market from being competitive, hence break them into smaller units.
which benefit is often associated with the command of economies and most likely achieved in a mixed economy?
Answer: The establishment of social welfare programs
Answer:
The establishment of social welfare programs.
Explanation:
This is the answer for Ap3x.
Prezas Company's balance sheet showed total current assets of $4,401, all of which were required in operations. Its current liabilities consisted of $975 of accounts payable, $600 of 6% short-term notes payable to the bank, and $250 of accrued wages and taxes. What was its net operating working capital (NOWC)
Answer:
$3,176
Explanation:
Computation of net operating working capital
Using this formula
Net operating working capital=Current assets less ( Current liabilities less Notes payable)
Where,
Current assets=$4,401
Current liabilities =($975+$600+$250=$1,825)
Notes payable =$600
Let plug in the formula
Net operating working capital=$4,401-($1,825-$600)
Net operating working capital=$4,401-$1,225
Net operating working capita=$3,176
Therefore the Net operating working capital or NOWC will be the amount of $3,176
) A company determines that its marginal revenue per day is given by R'(t) = 100et , R(0) = 0, where R(t) = the revenue, in dollars, on the tth day. The company's marginal cost per day is given by C'(t) = 140 - 0.3t, C(0) = 0, where C(t) = the cost, in dollars, on the tth day. Find the total profit from t = 0 to t = 5 (the first 5 days). Round to the nearest dollar. Note: P(T) = R(T) - C(T) = T 0 ∫ [R'(t) - C'(t)] dt.
Answer:
The answer is below
Explanation:
The marginal revenue R'(t) = [tex]100e^t[/tex] and the marginal cost C'(t) = 140 - 0.3t.
The total profit is the difference between the total revenue and total cost of a product, it is given by:
Profit = Revenue - Cost
P(T) = R(T) - C(T)
P(T) = ∫ R'(T) - C'(T)
Hence the total profit from 0 to 5 days is given as
[tex]P(T) = \int\limits^0_5 {(R'(T)-C'(T))} \, dt= \int\limits^0_5 {(100e^t-(140-0.3t))} \, dt\\ \\P(T)= \int\limits^0_5 {(100e^t-140+0.3t))} \, dt\\\\P(T)= \int\limits^0_5 {100e^t} \, dt- \int\limits^0_5 {140} \, dt+ \int\limits^0_5 {0.3t} \, dt\\\\P(T)=100\int\limits^0_5 {e^t} \, dt- 140\int\limits^0_5 {1} \, dt+0.3 \int\limits^0_5 {t} \, dt\\\\P(T)=100[e^t]_0^5-140[t]_0^5+0.3[\frac{t^2}{2} ]_0^5\\\\P(T)=100(147.41)-140(5)+0.3(12.5)=14741-700+3.75\\\\P(T)=14045[/tex]
If the economy starts at O, a decrease in the money supply moves the economy Group of answer choices
Answer: c. to Q in the long run.
Explanation:
A decrease in money supply will mean a decrease in the amount that households have for consumption. This will decrease Aggregate demand and force it to the left where it will then intersect with the SRAS at point R.
This will mean that the economy is in a recessionary gap as they are producing less than they can.
In the long run, the reduced economic activity will mean that some costs of factors of production like wages will be lower so more companies will hire labor and produce more which will increase the production in the economy.
This will move the SRAS curve to the right where it will intersect with the AD curve and the LRAS curve at point Q.
Steeze Co. makes snowboards and uses the total cost approach in setting product prices. Its costs for producing 10,000 units follow. The company targets a profit of $300,000 on this product.
Variable Costs per Unit Fixed Costs
Direct materials $ 100 Overhead $ 470,000
Direct labor 25 Selling 105,000
Overhead 20 Administrative 325,000
Selling 5
1. Compute the total cost per unit.
2. Compute the markup percentage on total cost. (Round your final percentage answer to 1 decimal place.)
3. Compute the product's selling price using the total cost method.
1 Total cost per unit
2 Markup percentage
3 Selling price
Answer:
1. $240
2. 12.5%
3. $168.75
Explanation:
1. Total cost per unit = Variable cost per unit + Fixed cost Per unit
= $150 + $90
= $240
Where ;
Variable costs per unit = Direct material +Direct labor + Overhead + Selling
= $100 + $25 + $20 + $5
= $150 per unit
Fixed costs per unit = Total fixed cost / Number of units produced
= ($470,000 + $105,000 + $325,000) / 10,000 units
= $900,000 / 10,000
= $90 per unit
2. Mark up percentage on Total cost = Mark-up / Total cost *100
= $300,000 / $2,400,000 * 100
= 12.5%
Where;
Total cost = Total cost per unit * Number of units produced
= $240 * 10,000 units
= $2,400,000
3. Selling price = Total cost per unit + Mark up
= $150 + ($150 * 12.5%)
= $150 + $18.75
= $168.75
Choose the action that does NOT reflect U.S. involvement in Vietnam during the Lyndon Johnson administration. A. The president was unwilling to de-escalate or withdraw from Vietnam because he feared being painted as "soft" on Communism. B. Increased military spending in Vietnam imperiled the administration's domestic agenda and led to a growing federal deficit. C. The United States participated in negotiations to establish national elections that would reunify North and South Vietnam. D. The Gulf of Tonkin Resolution gave the president authority to use military force without a formal declaration of war.
Answer: C. The United States participated in negotiations to establish national elections that would reunify North and South Vietnam.
Explanation:
The Geneva Accords as they were known, were created after negotiations in Geneva where the representatives of 8 countries including the United States, met to forge a path towards the reunification of North and South Vietnam.
It was agreed during the negotiations that, an election to unify the two nations would be held in 1956, 2 years after the negotiations which occurred between May to July 21, 1954.
As President Lyndon Johnson only became president in 1963, this was not done under his administration.
In the framework of a Lorenz curve, the final entry in the cumulative income column needs to be _________.
Answer:
100%
Explanation:
The Lorenz curve was developed by Lorenz max in 1905. It measures inequalities in wealth or income. In the Lorenz curve it shows a graph where the the cumulative percentage of total national income on one side against cumulative percentage of population on another side. The final entry in the income column needs to be a 100 percent.
. Question 6 Booth & Co. took out a 5-year, 8%, $100,000 loan on April 1, 2018. Interest payments are due to the bank every March 31st. Assume Booth & Co. uses an annual accounting period and the current accounting period ends on December 31, 2018. What would be the effect on Booth & Co.’s Assets, Liabilities, and Stockholders’ Equity if it did not record the adjusting entry on December 31, 2018 related to the interest on this bank loan?
Answer:
the interest expense using a 360 day year = $100,000 x 8% x 9/12 = $6,000
This unrecorded interest expense will result in an overstatement of net income, which in turn overstates retained earnings (part of stockholders' equity). It will also understate liabilities since interest payable is a current liability. Assets would not be affected by this mistake.
Lucian is a recent college graduate and is relatively new at your firm. He has been asked to write a report on a customer site visit for his supervisor, and he is unclear as to what should be included in the report and the appropriate style of writing. He asks you for help. What suggestions can you provide Lucian as he begins to write his report?
Answer:
Lucien should write the report in the below mentioned format
Customer Company Name
Customer Visit Participants
Date and Place of Customer Visit
Customer Background/Profile/Situation
Main Report ( It includes Customer challenges and other customer visit details)
Extra Q&A
Customer Visit Insights
Action items
The following are the assets and liabilities of Jill Carlson Realty Company, as of January 31, 2018. Also included are revenue, expense, and selected stockholders' equity figures for the year ended on that date (amounts in millions):
Complete Question:
Apply the accounting equation; construct a balance sheet) The following are the assets and liabilities of Jill Carlson Realty Company, as of January 31, 2018. Also included are revenue, expense, and selected stockholders' equity figures for the year ended on that date (amounts in millions):
Complete Table is in the attachment given at the end of the answer.
Requirement 1.
Construct the balance sheet of Jill Carlson Realty Company at January 31, 2018. Use the accounting equation to compute ending retained earnings.
Answer:
Balance Sheet of Jill Carlson Realty Company, as of January 31, 2018
ASSETSCurrent Assets
Cash $57.2
Receivables $0.5
Non Current Assets
Investment Assets $79.4
Property, Plant and Equipment $1.6
Other Assets $9.3
Total Assets $148
LIABILITIES
Current Liabilities $2.9
Non Current Liabilities $102.6
Total Liabilities $105.5
EQUITY
Common Stock $39.2
Closing Retained Earnings (Step1) $3.3
Total Equity $42.5
Step 1: Find Closing Retained Earnings
As we know that:
Closing Retained Earnings = Total Assets - Total Liabilities - Common Stock
Here
Total Assets is $148 million
Total liabilities is $105.5 million
Common Stock is $39.2 million
By putting these values in the above equation, we have:
Closing Retained Earnings = $148 million - $105.5 million - $39.2 million
Closing Retained Earnings = $3.3 million
f the Fed wishes to increase the money supply, it can: Multiple Choice sell a bond to bank, and take the money it receives in exchange out of circulation in the economy. buy bonds from a bank, giving the bank cash in return, which it can then lend out. sell a bond to a bank, and take the money it receives and lend it out to someone else. buy a bond from a bank, requiring the bank to hold the money it receives as excess reserves.
Answer:
buy bonds from a bank, giving the bank cash in return, which it can then lend out.
Explanation:
The above option is the way in which the Feds can increase money supply in the country. For example, if a bank advertise #30 billion worth of bond to the public, the Fed could buy $28 billion worth of bond thereby offering the bank enough liquidity and cash to lend out to those in need of it.
A firm with high operating leverage has:_____.
a. high fixed costs in its production process.
b. high variable costs in its production process.
c. high costs per unit. low fixed costs in its production process.
d. low costs per unit.
Answer:
a. high fixed costs in its production process
Explanation:
Operating leverage is used to compare fixed cost and variable cost of producing a good.
High operations leverage occurs when fixed cost is high and variable cost is low.
This means the production process uses more of fixed assets.
Also high operations leverage are characterised by high product margin an low variable cost. So the higher the revenue the higher the operational income.
This implies that companies make high profit from each additional unit since variable cost is low.
Answer:
c. high costs per unit. low fixed costs in its production process.
Explanation:
Operating leverage is a cost-accounting formula that helps in the measurement of the degree to which a firm or project can increase operating income by increasing revenue. For example, a business that generates sales with a high gross margin and low variable costs has high operating leverage.
Suppose a firm produces x and y, the firm earns revenues from x=$50000 and revenues from y equal to $ 30000. the own price elasticity of demand for x is -2 and the cross price elasticity of demand between x and y is -0.6. if the firm lowers the price of product x by 1%, the change in the total revenues will be $?
Answer:
If the firm lowers the price of product x by 1%, the change in the total revenues will be $680.
Explanation:
Own price elasticity of demand of a commodity is the degree of responsiveness of quantity demanded of the commodity to a change in its own price. This is given as -2 for commodity x in the question.
The cross price elasticity of demand between any two commodities is the degree of responsiveness of quantity demanded of the first commodity to a change in the price of the second commodity. This is given as -0.6 for between commodity x and y in the question.
Given the information in the question, the change in the total revenues if the firm lowers the price of product x by 1% can be calculated using the following formula:
ΔTR = [(rx * (1 + ex)) + (ry * cexy)] * Δpx ..................... (1)
ΔTR = Change in the total revenues = ?
rx = revenues from x = $50,000
ex = own price elasticity of demand for x is = -2
ry = revenues from y = $30,000
cexy = cross price elasticity of demand between x and y = -0.6
Δp = Change in the price of product x = -1%
Substituting the values into equation (1), we have:
ΔTR = [(50,000 * (1 + (-2))) + (30,000 * (-0.6)] * (-1%)
ΔTR = [(50,000 - 100,000) - 18,000] * (-1%)
ΔTR = [-50,000 - 18,000] * (-1%)
ΔTR = -68,000 * (-1%)
ΔTR = $680
Therefore, if the firm lowers the price of product x by 1%, the change in the total revenues will be $680.
Coca-Cola has expected EPS of $2.1. Its competitors have the following P/E ratios: Dr Pepper Nestle Pepsico P/E ratio 22.07 23.49 21.37 Part 1 What is the intrinsic value based on the lowest P/E ratio? Part 2 What is the intrinsic value based on the highest P/E ratio? Part 3 What is the intrinsic value based on the average P/E ratio?
Answer:
The Intrinsic value is calculated by multiplying the Earnings per share by the P/E ratio.
1. The lowest P/E ratio is 21.37 so the intrinsic value is;
Intrinsic value = 2.1 * 21.37
= $44.88
2. Highest P/E ratio is 23.49
Intrinsic value = 2.1 * 23.49
= $49.33
3. The average P/E ratio is;
= (22.07 + 23.49 + 21.37)/3
= 22.31
Intrinsic value = 2.1 * 22.31
= $46.85
Aurora Enterprises incurs costs of $38 per unit ($27 variable and $11 fixed) to make a product that normally sells for $56. A wholesaler offers to buy 3,500 units for $36 each. This special order will result in additional shipping costs of $1.15 per unit. Assuming Aurora has adequate manufacturing capacity, it should
Answer:
Aurora should reject the offer because it would lead to a loss of (-$11,025)
Explanation:
Given the information above, we can sum up the variable costs to be;
Variable costs = $38 + $1.15
= $39.15
Therefore;
Gain or loss would be;
= [3,500 × $36] - [3,500 × $39.15]
= $126,000 - $137,025
= -$11,025
With regards to the above, Aurora should reject the offer because it will lead to a loss of $11,025
Freeman Motors, a motorcycle manufacturer, had the following contingencies. Determine the appropriate accounting treatment for each of the situations Freeman is facing. a. Freeman estimates that it is reasonably possible but not likely that it will lose a current lawsuit. Freeman's attorneys estimate the potential loss will be $4,500,000. ▼ Describe the situation in a note to the financial statements. Do not disclose. Record an expense and a liability based on estimated amounts. b. Freeman received notice that it was being sued. Freeman considers this lawsuit to be frivolous. ▼ Describe the situation in a note to the financial statements. Do not disclose. Record an expense and a liability based on estimated amounts. c. Freeman is currently the defendant in a lawsuit. Freeman believes it is likely that it will lose the lawsuit and estimates the damages to be paid will be $75,000.
Answer:
a. Freeman estimates that it is reasonably possible but not likely that it will lose a current lawsuit. Freeman's attorneys estimate the potential loss will be $4,500,000.
Describe the situation in a note to the financial statements.Since the event is possible but not likely, it should be disclosed in the footnotes of the financial statements.
b. Freeman received notice that it was being sued. Freeman considers this lawsuit to be frivolous.
Do not disclose.Since this is a frivolous lawsuit, there is no need to disclose it.
c. Freeman is currently the defendant in a lawsuit. Freeman believes it is likely that it will lose the lawsuit and estimates the damages to be paid will be $75,000.
Record an expense and a liability based on estimated amounts.Since the negative outcome is probable and you were able to quantify your losses, you must record the expense for $75,000 and include the amount as a current liability.
Pinterest allows users to save and share images they find online, building their own collections. This type of site is populated through a _________________ search. a. Social bookmarking b. Image optimization c. Social specialty d. Intellectual property
Answer:
b. Image optimization
Explanation: