Business, 18.02.2020 02:07, stressedstudent1906
Michael McNamee is the proprietor of a property management company, Apartment Exchange, near the campus of Pensacola State College. The business has cash of $8,000 and furniture that cost $9,000 and has a market value of $13,000. The business debts include accounts payable of $6,000. Michael’s personal home is valued at $400,000, and his personal bank account has a balance of $1,200. Consider the accounting principles and assumptions discussed in the chapter, and identify the principle or assumption that best matches the situation:a. Michael’s personal assets are not recorded on the Apartment Exchange’s balance sheet. b. The Apartment Exchange records furniture at its cost of $9,000, not its market value of $13,000.c. The Apartment Exchange reports its nancial statements in U. S. dollars. d. Michael expects the Apartment Exchange to remain in operation for the foreseeable future.
Answers: 3
Business, 22.06.2019 11:30, levy72
10. lucy is catering an important luncheon and wants to make sure her bisque has the perfect consistency. for her bisque to turn out right, it should have the consistency of a. cold heavy cream. b. warm milk. c. foie gras. d. thick oatmeal. student d incorrect
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Business, 22.06.2019 19:00, Anonymouslizard
All of the following led to the collapse of the soviet economy except a. a lack of worker incentives. c. inadequate supply of consumer goods. b. a reliance on production quotas. d. the introduction of a market economy.
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Michael McNamee is the proprietor of a property management company, Apartment Exchange, near the cam...
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