An asset is said to be illiquid when: Group of answer choices it cannot be used to settle debts. it cannot act as a store of value. it is an illegal tender. it cannot be readily exchanged for goods. it lacks purchasing power.

Answers

Answer 1

Answer:

Answer:

it cannot be used to settle debts

Explanation:

The assets are said to be liquid when it is convertible into cash and the liquid asset we called as a current asset. The liquidity of an asset is important to pay off the short term debt or obligations arise.

It can be in terms of account payable, inventory, prepaid insurance, etc

The asset that said to be illiquid when it is not be used for settling the debts

Hence, the first option is correct

Related Questions

Tina is an expert gardener. she provides services like setting up new gardens, maintaining gardens, and landscaping. in the context of service processes, the services provided by tina come under the category of
Robert House believed that a leader cannot move back and forth among the four leadership styles: directive, supportive, achievement-oriented, and participative. a) True b) False
Which of the following represents the national spending approach to splitting GDP? Y = C + I + G + NX Y = C + I + G – NX Y = C + I + G Y = C + G + NX – M
The character of a company's corporate culture is a product of:A. the shared values and core business principles and beliefs that management preaches and practices.B. its standards of what is ethically acceptable and what is not and the stories that get told over and over to illustrate and reinforce the company's shared values, business practices, and traditions.C. the company's approach to people management and the "chemistry" and "personality" that permeates its work environment.D. the work practices and behaviors that define "how we do things around here."E. All of these.
During 2018, Colorado Company stock was sold for $9,400. The fair value of the stock on December 31, 2018, was Clemson Corp. stock—$19,100; Buffaloes Co. stock—$20,500. None of the equity investments result in significant influence. (a) Prepare the adjusting journal entry needed on December 31, 2017. (b) Prepare the journal entry to record the sale of the Colorado Co. stock during 2018. (c) Prepare the adjusting journal entry needed on December 31, 2018.

A company pays each of its two office employees each Friday at the rate of $100 per day for a five-day week that begins on Monday. If the monthly accounting period ends on Tuesday and the employees worked on both Monday and Tuesday, the month-end adjusting entry to record the salaries earned but unpaid is: Multiple Choice Debit Unpaid Salaries $600 and credit Salaries Payable $600. Debit Salaries Expense $600 and credit Salaries Payable $600. Debit Salaries Expense $400 and credit Cash $400. Debit Salaries Payable $400 and credit Salaries Expense $400. Debit Salaries Expense $400 and credit Salaries Payable $400.

Answers

Answer:

Debit Salaries Expense $400 and Credit Salaries payable $400.

Explanation:

Consider, we are told the company pays each of its two office employees, meaning, the 2 employees combine will earn $200 a day.

Furthermore, we are told that even though the monthly accounting period ends on Tuesday the two employees work on Monday and Tuesday, meaning, the adjusting entry to record at the month-end will be a summation of the amount earned by the two employees on the two days. That is, = $200 × 2 days = $400 (which is a salaryexpense).

Therefore, going by the rule of double-entry, we are obliged to debit salaries expense account and credit salaries payable account.

If a person works on a ship for a cruise line headquartered in the country where he was born and resides, then he is a Answers: A. PCN B. HCN C. TCN D. not enough information

Answers

Answer:

The correct answer is letter "A": PCN.

Explanation:

In international staffing, a Parent Country National (PCN) is an employee that is hired to work in the same country from where the employee is resident and where the company has its headquarters. Usually, firms hire PCNs when foreign cultures are distant.

"Ursula is the most popular person in her apartment complex. Everyone knowsher face and where she lives. Given what we know about location and interactionpatterns, which of the following statements about Ursula‘s apartment is most likelytrue?"The apartment is in a back corner of the complex.The apartment has a door opening to a private hallway.The apartment is upstairs and far from a stairwell.The apartment is right next to the mailboxes.

Answers

Answer:

d. The apartment is right next to the mailboxes.

Explanation:

As it is mentioned in the statement that every one knows where Ursula lives and also everyone knows her face. These things make it impossible for the first three statements to be true.

a. If her apartment is in the back corner, she will have interaction with people only while getting out and into the apartment which will not ensure that everyone will know her.

b. A door opening to a private hallway still doesn't ensure that she is this much social.

c. Upstair and far from stairwell also tells that only few people will know her, not all.

d. This one is true as she lives right next to mailboxes and every person in apartment tends to check their mailboxes and probability of knowing her face and where she lives is the highest.

Parr Hardware Store had net credit sales of $6.5mil and cost of goods sold of $5mil for the year. The Accounts Receivable balances at the beginning and end of the year were $600k and $700k, respectively. The receivables turnover was

Answers

Answer:

Accounts Receivables Turnover Ratio = $(6,500,000)/(650,000)$ = 10 times.

Explanation:

Accounts Receivables Turnover ratio = $(Net \:Credit \: Sales)/(Average \: Receivables)$

Here Net Credit Sales = $6.5 million

Accounts Receivables Opening Balance = $600,000

Accounts Receivables Closing Balance = $700,000

Average Accounts Receivable Balance = $(600,000 \:+ 700,000)/(2) = 650,000$

Accounts Receivables Turnover Ratio = $(6,500,000)/(650,000)$ = 10 times.

This shows that accounts receivables are on an average 1/10th of credit sales.

Final Answer

Accounts Receivables Turnover Ratio = $(6,500,000)/(650,000)$ = 10 times.

Department 1 completed and transferred out 450 units and had ending work in process inventory of 60 units. The ending inventory is 20% complete for materials and 60% complete for labor and overhead. The equivalent units of production for materials is

Answers

Answer:

486 units

Explanation:

Final answer:

The equivalent units of production for materials is calculated by adding the fully completed units to the proportion of the unfinished units that are complete for materials. Thus, in this case, that would be 450 (completed units) + [60 (ending WIP inventory) * 20% (proportion complete for materials)] = 462.

Explanation:

In the field of cost accounting, equivalent units of production refer to the number of units that could have been completed in a period given the amount of work that was actually done.

In this case, Department 1 transferred out 450 units, and the ending work in progress inventory was 60 units that were 20% complete for materials.

To calculate the equivalent units of production for materials, you need to add the fully completed units to the proportion of the unfinished units that are complete for materials.

Hence, = 450 (completed units) + [60 (ending WIP inventory) * 20% (proportion complete for materials)] = 450 + 12 = 462.

Therefore, the equivalent units of production for materials is 462.

Learn more about Equivalent Units of Production here:

brainly.com/question/37850858

#SPJ3

Sales to customers who use bank credit cards such as mastercard and visa are usually recorded by:a. Debit to Cash and a credit to Sales b. Debit to Cash, credit to Credit Card Expense, and a credit to Sales c. Debit to Bank Credit Card Sales, debit to Credit Card Expense, and a credit to Sales d. Debit to Sales, debit to Credit Card Expense, and a credit to Cash

Answers

Answer:

c. Debit to Bank Credit Card Sales, debit to Credit Card Expense, and a credit to Sales

Explanation:

The journal entry is shown below:

Bank credit card sales A/c Dr XXXXX

Credit card expense A/c Dr XXXXX

To Sales A/c XXXXX

(Being the sales is recorded via bank credit cards)

As the credit card has some expense so we debited the credit card expense along with the bank credit card sales and credited the sales as it is revenue which is to be credited

Other Questions

Suppose that on August 14, 2019, an antique woven rug handmade in Canada is priced at CAD 1,100. The approximate U.S. dollar price of the rug would be

Producers believe the economy is headed for a recession, so they reduce their purchases of machinery and equipment. A. The Short Run Aggregate Supply curve shifts to the right. B. The Aggregate Demand curve shifts to the left. C. The Aggregate Demand curve shifts to the right. D. The Short Run Aggregate Supply curve shifts to the left.

Ivanhoe Electronics reported the following information at its annual meetings: The company had cash and marketable securities worth $1,235,455, accounts payables worth $4,159,357, inventory of $7,145,200, accounts receivables of $3,489,700, short-term notes payable worth $1,138,700, and other current assets of $121,455. What is the company's net working capital

"The financial leverage multiplier is the ratio of" ________. A. current assets to current liabilities B. total assets to total debt C. current assets to common stockholders' equity D. total assets to common stockholders' equity