Tim is the accountant of a trading firm. Two years ago, the company bought a commercial van that had a value of $10,000. The van’s current market price is $8,500. However, Tim continues to value it at the original cost. Which principle guides his action?

Answers

Answer 1

Answer:

B. historical cost

Explanation:

According to the historical cost principle, the assets should be valued at purchased cost whether the market value is more or less

Since in the question, it is mentioned that the Tim continues the commercial van value at the purchased cost only even the market price is available

So this represents the historical cost principle

Hence, the correct option is b,


Related Questions

Think of a successful business and research the founding of that business. What successes could you learn about from that business?

Answers

Answer:

Explanation:

There are many successful businesses that have risen from nothing. One business that stands out was the website X which is now known as Paypal. Looking at this business and many other successful ones I have learned that making a business successful relies on two main factors. Whether or not your product/service solves a real-life problem, and if you have your correct target audience. Getting both of these two factors correct almost guarantees that your business will be a success assuming you put in the effort.

"Who is responsible for filing a U-5 Form with IARD when an investment adviser representative is terminated and associates with another advisory firm?"

Answers

Answer: The investment adviser that is the former employer is responsible

Explanation:

U-5 is a security industry termination form filled by the employer that terminates an individuals employment.

When the individual relates with another advisory firm, the new employer now reactivates the individuals registration by filling a U-4 with IARD. The employee is not really notified when both forms are filled

A dealer in U.S. government securities quotes a 5-year Treasury note at 89.12-89.16. In dollars, that represents a spread of

Answers

Answer:

0.00125

Explanation:

In order to determine the spread of the dealer's quote, there is a need to undertstand that the first price quoted is known as bid price, which is the price the dealer is willing to purchase the securities while the second one is the ask price, the dealer's selling price.

From a conventional point of view(norm), the spread is the ask minus the bid price divided by 32 as shown thus:

spread=(89.16-89.12)/32=0.00125

explain the difference between a peer to peer LAN server-based LAN

Answers

Answer:

In Client-Server Network, Centralized server is used to store the data. While in Peer-to-Peer Network, Each peer has its own data. ... In Client-Server Network, Server respond the services which is request by Client. While in Peer-to-Peer Network, Each and every node can do both request and respond for the services.

Explain how labor costs affect where multinational corporations choose to make their products.

Answers

Answer:

see below

Explanation:

Multinationals are large corporations that operate in multiple countries. They have their headquarter in their home country and at least one branch in a different country. Multinationals are motivated to operate in different countries because capital is relatively mobile compared to cheaper labor and materials.

Labor constitutes a huge percentage of the company's expenses. A high wage bill may cripple the growth of a business. To avoid huge wage bills, companies expand to countries with relatively cheaper labor. A business can operate profitably by manufacturing in a country with lower labor costs.

Multinationals are known to shift operations between countries. If labor conditions are not favorable in one country, they can move to other countries with better and lower labor costs.

Can somebody help me figure out what he means by this assignment. Don't actually do it but like explain it to me

Answers

Answer:

It seems like u have to see what companies did to help out like did they raise how much the get paid in hour I hope this helps.

Explanation:

Engi Sola Corp. Manufactures solar engines for tractor trailers. Given the fuel savings available, new orders for 125 units have been made by customers requesting credit. The variable cost is $9,700 per unit, and the credit price is $11,100 each. Credit is extended for one period. The required return is 1.9% per period. If Engi Sola extends credit, it expects that 30% of the customers will be repeat customers and place the same order every period forever, and the remaining customers will be one-time orders.

Answers

Answer:

The net present value (NPV) of the decision to grant credit is $2,938,157.89.

Explanation:

Note: This question is not complete. The complete question is therefore provided before answering the question as follows:

Engi Sola Corp. Manufactures solar engines for tractor trailers. Given the fuel savings available, new orders for 125 units have been made by customers requesting credit. The variable cost is $9,700 per unit, and the credit price is $11,100 each. Credit is extended for one period. The required return is 1.9% per period. If Engi Sola extends credit, it expects that 30% of the customers will be repeat customers and place the same order every period forever, and the remaining customers will be one-time orders.

Calculate the NPV of the decision to grant credit.

The explanation of the answer is now given as follows:

Number of new orders = 125 units

Percentage of repeat order = 30%

Number of order that will be repeated forever = Number of new orders * Percentage of repeat order = 125 * 30% = 37.50 units

Credit price per unit = $11,100

Variable cost per unit = $9,700

Contribution margin per unit = Credit price per unit - Variable cost per unit = $11,100 - $9,700 = $1,400

Total contribution for all new order = Number of new orders * Contribution margin per unit = 125 * $1,400 = $175,000

Total contribution margin for order that will be repeated forever = Contribution margin per unit * Number of order that will be repeated forever = $1,400 * 37.50 = $52,500

Net present value (NPV) of total contribution margin for order that will be repeated forever = Total contribution margin for repeated order forever / Required return = $52,500 / 1.9% = 2,763,157.89

Net present value (NPV) of the decision to grant credit = Total contribution for all new order + NPV of total contribution margin for order that will be repeated forever = $175,000 + 2,763,157.89 = $2,938,157.89

Therefore, the net present value (NPV) of the decision to grant credit is $2,938,157.89.

What is the purpose of a bank?
A financial investigator
A financial tracker
A financial intermediary
A financial advisor

Answers

Financial advisor would be your answer

The U.S. encourages domestic companies to export because _____________.
A.
It increases inflation.
B.
It increases the number of U.S. consumers who buy domestic products.
C.
It increases the value of a U.S. dollar.
D.
It improves the interest rate.


Please select the best answer from the choices provided

A
B
C
D

Answers

Answer: C; Ot increases the value of a U.S dollar.

Explanation: Just did the quiz

Answer:

c

Explanation:

jus did the quiz edg 2020

When positive externalities are present in a market a. private benefits will be greater than social benefits. b. social benefits will be greater than private benefits. c. only government regulation will solve the problem. d. the market will not be able to generate an equilibrium.

Answers

Answer:

b. social benefits will be greater than private benefits

Explanation:

Positive externalities can be defined as those that produce positive effects for society in relation to the consumption of a good or service.

This is because the social benefit is the sum of the private benefit plus the sum of the external benefit.

An example of positive externality pertinent to the present is the fact that vaccinating people generates greater positive effects on society, because when vaccinating an individual there is less chance of having more people infected with some disease.

So it is correct to say that the social benefits will be greater than the private ones. Letter b.

Which of the following three situations is least likely to occur at the same time as the other two situations? Why?
1) Real GDP is less than potential GDP.
2) An economy in a strong, 5-year expansion.
3) An unemployment rate above the natural rate of unemployment.

Answers

Answer: I'm going to take a guess and say 1 and 3.

Explanation: Just taking a guess.

How do insurance companys make money?

Answers

Most insurance companies generate revenue in two ways: Charging premiums in exchange for insurance coverage, then reinvesting those premiums into other interest-generating assets. Like all private businesses, insurance companies try to market effectively and minimize administrative costs

People need to have ____ in the economy to spend money.

A) less disposable income
B) confidence
C) purchasing power

Answers

Answer:

B) confidence

Explanation:

Consumer confidence represents the level of optimism that consumers have on the general state of the economy. Consumer confidence is an expression of sentiments that the population has on the economic prospects in the country. The consumer confidence indicator is the metric used to measure consumer confidence.

High consumer confidence indicates that consumers are very optimistic about the prospects of the economy. When confidence is high, consumers tend to spend and invest more. With low confidence, consumers save more.

The NASAA Statement of Policy on Dishonest or Unethical Business Practices of Broker-Dealers and Agents includes prohibitions against certain practices designed to manipulate market prices of securities. An activity that would fall within the spectrum of the prohibitions would be A) front running B) wash trades C) guaranteeing customers against loss D) churning customer accounts

Answers

Answer:

B) wash trades

Explanation:

In the case when the wash trades are performed so it consists the simultaneous or near-simultaneous i.e. selling and the repurchase of the similar security for the motive of producing the trading activity due to which price rise. This is the form of how the market manipulates. The other options i.e. given in the question is not considered the market manipulation

Therefore the option B is correct

What is one major difference between income tax and sales tax?
A. Income tax is based on taxable income, while sales tax is based
on gross income.
B. Income tax is regressive, while sales tax is progressive.
C. Income tax is based on gross income, while sales tax is based on
taxable income.
D. Income tax is progressive, while sales tax is regressive.

Answers

Answer:

D. Income tax is progressive, while sales tax is regressive.

Explanation:

In a progressive tax system, the percentage of tax imposed increases as the taxable income rises. For income tax, progressive tax means an individual with a low income will be taxed using a lower rate compared to high earners. Progressive tax categorizes incomes into different income brackets depending on the level of income. The tax rate increases as one move from a low-income bracket to a higher one.

A regressive tax system charges a constant rate for everyone. Sales tax is a good example of a regressive tax. The tax on basic items, low-priced items, is at the same rate as expensive or high-end items. It means that low-income earners are taxed the same rate as high-income earners for all items purchased.

Select two answers
Marcus is applying for a job as a guidance counselor at a high school. Which two details should he include in his résumé?

A. his ethnicity
B. his counselor certification
C. his country of origin
D. his years of teaching experience
E. his age

Answers

B.) his counselor certification

D.) His years of teaching experience
B and d! Have a good day and good luck

Sorry to bother but i need someone to talk to me if your older than 15 don't bother to message thank,you❤

Answers

Answer:

Does 16 mean no too?

Explanation:

following info were supplied to you
a Cheque deposited in total of 10000
only to the extent of 4000.
required:bank bank reconciliation statement
Please help​

Answers

Answer:

sorry I can't ans kygsstfzlfzlsrztlukyzkly

Employee benefits
(A) can be worth a great deal of money.
(B) include the salary that an employee is paid.
(C) should never be considered when trying to decide whether to accept a job.
(D) all of these

Answers

Answer:

(D) all of these

Explanation:

Employers offer attractive benefits to attract and retain the best talents in the industry.  Employee benefits are offered over and above wages and salaries. They are also called fringe benefits or perks and include Medical insurance coverage, bonuses, overtime, and retirement benefits.

Employees are encouraged to compare the different benefits that employers offer before accepting a Job. Benefits are not standardized and may be costly to employers. Employees should analyze them carefully to select the employer providing the best.

I need help I don’t have much time

Answers

Answer:

___the answer is true___

Answer:Yes.

And here's an additional answer to guide you.

There are nine major steps required to develop a well-crafted, strategic marketing plan: set your marketing goals, conduct a marketing audit, conduct market research, analyze the research, identify your target audience, determine a budget, develop specific marketing strategies, develop an implementation schedule for ...

What should you expect to get from your insurance company in exchange for your premium?

Answers

Answer:

see below

Explanation:

Premiums are the regular payments the insured pays to the insurance company for insurance coverage. By paying premiums, the insurance company agrees to compensate the insured for any financial loss resulting from the risk covered by the insurance contract.

Premiums are the cost of insurance.  The customer pays premiums while the insurances undertake the risk stated in the policy documents. Should the customer suffer damages, injuries, or financial loss, the insurance companies compensate the customer as per the terms stated in the insurance contract.

Prepare journal entries,On 25 September, you pay payroll for all employees, out of the company's bank account. Total gross salary was 5,750,000 and PAYE was 2,000,000. The salary is paid to the employees out of your company's bank account but PAYE payments will be made to the authorities in October.

Answers

Answer:

On 25 September, we have:

Debit Salary expenses for $5,750,000; Credit Bank for $3,750,000; and Credit PAYE payable for $2,000,000.

Explanation:

On 25 September, the journal entries will look as follows:

Date             Account Title                    Dr ($)                 Cr ($)          

Sep. 25       Salary expenses          5,750,000

                     Bank (w.1)                                             3,750,000

                      PAYE payable                                     2,000,000

                    (To record total gross salary.)                                          

Note that when the PAYE is eventually paid to the authorities in October, let say on October 5, the journal entries will look as follows:

Date             Account Title                    Dr ($)                 Cr ($)          

Oct. 05        PAYE payable                2,000,000

                     Bank                                                         2,000,000

                    (To record PAYE paid to the authorities.)                        

Workings:

w.1: Bank = Total gross salary - PAYE = $5,750,000 - $2,000,000 = $3,750,000

Question 8
How much money will you need for retirement? Which answer is the most
correct answer?
My social security plus what I have put in a regular savings account will do
ОА.
it
OB. A good guidelines is 80% of your working income.
Three years income and the 25% I may receive from my company's
Oc.
pension plan
OD Enough money to last 20 year

Answers

Answer:

subject??

Explanation:

How long would it take to double your money in an account that paid 6% per year

Answers

Answer:

depending on how much you put in there to start with but 5 to 10 years

Are Age, sex and race are the only characteristics in the protected class?

Answers

Answer:

Under federal law, employers cannot discriminate on the basis of race, color, national origin, religion, sex, age, or disability. The law is not, however, a blanket bar on employers taking into account a person's membership in one of these groups in all circumstances

Explanation:

can i get brainlist

Select the correct answer.
Which legislation is the most recent piece of consumer protection legislation?
Consumer Bill of Rights
Fair Credit Reporting Act
Dodd-Frank Wall Street Reform and Consumer Protection Act
Credit CARD Act

Answers

Answer:

Consumer Bill of Rights

Explanation:

Jaiden is in 6th grade and plans to attend college. He has created a college preparation plan.

1. He will fill out the FAFSA form and send it in immediately.

2. He will ask his parents if they have a college savings account.

3. When he gets to high school, he will start trying harder in school so he can qualify for academic scholarships.

4. During his last year of high school, he will get involved in sports and clubs he enjoys to qualify for scholarships.

5. Upon graduation, he will start saving money for college.


Which statements identify errors in Jaiden’s plan? Check all that apply.

Answers

Answer:

-He should wait until his last year in high school to fill out the FAFSA.

-He should start saving right away. It is never too early to start a savings account.

-He should work hard throughout middle school and high school or it might be too difficult for him to excel later, since bad habits are hard to break.

-He should try different sports and clubs in middle school and early high school. Then he should pick his favorites and invest more time in them.

Explanation:

After reading about primary and support activities in a firm's value chain, discuss how managers can create value by establishing important relationships among the value-chain activities both within their firm and between the firm and its customers and suppliers.

Answers

Answer and Explanation:

It is very significant for the managers to develop an important relationship in the value chain activities as it develop a positive impact on the company also it improves the employees morale.

The better the communication is, the better is the quality of the goods at the lowest cost

In the case of the inbound logistics and the suppliers, it would lead to decrease in the cost of inventory and at the same time it improve the quality of the products

Also when the customers have interacted with the manufacturing company so it would build trust and in return the company wants the loyal customers that ultimately increased the goodwill of the company  

How can interest rate fluctuations impact a nation's economy?

Higher interest rates tend to attract foreign investors.


Lower interest rates limit credit availability for residents of a country.


Higher interest rates trigger intervention from the WTO and IMF.


Lower interest rates raise the value of a country's currency.

Answers

Answer:

A. Higher interest rates tend to attract foreign visitors.

Explanation:

I just took the test.

With your bill paid off and starting back at $0, the latest video game comes out and costs $60. You put it on your credit card and can’t afford to pay the whole bill all at once, so you make the minimum payment each month.
How much is that minimum payment?

Answers

Answer: 5 dollars per year

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