The party to whom payment is to be made is called the payee. True O False

Q: Which of the following is not included in the MHE, or PITI, payment? O Principal O Points O Interest…

A: “Since you have asked multiple questions, we will solve the one question for you. If you want any…

Q: Explain how the obligation for postretirement benefits is measured and how the obligation changes.

A: The answer for this question is given generally as each organisations can following their own…

Q: What is meant by debentures?

A: A company has several sources from where it can raise funds. It can issue equity shares and the…

Q: Compensation income may be in the form of monetary or in-kind benefit. a.true b.false

A:

Q: What is their refund or balance due?

A: Tax return can be defined as the systematic form which is to be submitted to the taxation…

Q: Give the SECOND exception to the general rule that: If the consideration of the contract consists…

A: If the consideration of the contract consists partly in money, and partly in another thing, the…

Q: Why should an individual not use an installment sale as opposed to a cash sale?

A: Under the normal method of accounting cash is collected from sale of goods or services and…

Q: - Which of the following receivables is allocated for? A) Receivables from partners B) Receivables…

A: The correct option is  A) Receivables from partners

Q: When assets are purchased under an installment sales contract, the seller becomes the creditor.…

A: Under installment sales contract, buyer is provided a way for goods to be delivered and the payment…

Q: A. It is probable that an outflow of economic benefits will be required to settle an obligation B.…

A: Option D

Q: What are the most frequent uses of contingent payments?

A: A contingent payment is a mechanism used in M&A whereby, in addition to an upfront payment,…

Q: A situation where money is left over after all obligation have been paid

A: The term obligations refer to any debt that is yet to be paid or any financial obligation that is…

Q: In duty to compensate the agent owes to pay an agreed-upon amount to the principal Select one True…

A: Solution Concept Agent principal relationship                 Agent are the person who works on…

Q: If the down payment is non-refundable, how much is the contract liability to be initially recorded?

A: Contract liability that is to be recorded initially can be calculated by adding the down payment…

Q: income recieved but service not rendered, Please suggest the JE

A: Journal entries are recording of the transaction in the accounting journal in a chronological order.…

Q: When an obligation is subject to an obligation, the moment the condition is fulfilled, the…

A: The following statement is True... When an obligation is subject to an obligation, the moment the…

Q: is a practice of transfering the ownership of a negotiable instrument such as a check by a payee to…

A: Discounting means where the negotiable instrument has been given to bank before due date to take…

Q: What is the difference between equity of redemption and statutory redemption?

A: The difference between equity of redemption and statutory redemption are:

Q: What is the difference between a principal and an agent for determining the amount of revenue to…

A:

Q: The party making the promise to pay is called the maker. O True O False

A: A promissory note has usually two parties, promisor and a promisee. Promisor is a person who makes…

Q: When the debtor binds himself to pay when his means permit him to do so, the obligation is:

A: When the debtor binds himself to pay when his means permit him to do so, the obligation is: Answer -…

Q: When assets are purchased under an installment sales contract, the seller becomes the creditor. A.…

A: An asset is the value of items owned by the business organisation. It can be tangible or intangible…

Q: If the shareholder’s position is not protected by a contract – unlike the provider of debt- how is…

A: The shareholders have ownership of the company. The providers of debt are the creditors of the…

Q: ired to remit this payment?

A: As per IRS ,if the due date for payment of  federal tax falls on Saturday , Sunday or national…

Q: Related to ethics and contracts, why do payday loans appear to be an ethical issue?

A: Payday loans are small ticket loans for a short duration. The borrower pays back the loan when he…

Q: When from among the choices available only one is possible, the obligation in effect ceases to be…

A: Answer:- True Explanation:- When from the choices available only one of the choice is possible, the…

Q: Are monetary obligations under a contract of surety intransmissible by their nature, by stipulation,…

A: Contract of surety relates to the contract of guarantee a contract is to perform the promise or…

Q: D borrowed a sum of money from C with a certain rate of interest. C now wants to increase the rate…

A: A contract is an agreement which is enforceable by law on which one party makes an offer and another…

Q: Explain the rights of a creditor against a surety and the rights of a surety, including those of a…

A: Surety bond used to involve the promise through the one party by assuming the responsibilities…

Q: Obligation to pay back your monetary debt. What kind of obligation is involve here?

A: Obligation to pay the debt: In the context of financial responsibilities, this refers to any…

Q: types of payments that are taxable/not taxable for FUTA?

A: Federal unemployment tax is a tax paid by the employers to the employees who have left the company…

Q: what is the difference between co-pay and coinsurance

A: Coinsurance and copays are different variants of cost sharing arrangement between health insurance…

Q: mpted by law or statute and it does not me on for services constitutes compensation in e as long as…

A: Compensation income refers to the form of income gained by an entity that arises out of an…

Q: What is interest earned by a lender but not yet collected? As well as what is interest earned by a…

A: Lender is the person who lends or provides money to other person in return of some interest as well…

Q: The process that determines the present value of a single payment or stream of payments to be…

A: Discounting : Discounting determines how much will be the worth of money if it is received today…

Q: Explain why we record interest in the period in which we incur it rather than in the period in which…

A: Given: The record of interest in the incurred period rather than the period of payment.

Q: May an obligor be liable under an obligation subject to a suspensive condition although the…

A: When an obligation is subject to a suspensive condition, the creation of the obligation will depend…

Q: Do you believe that Bills of exchange cannot be voided? Yes, or No, and Why?

A: In this question, we will explain that Bills of exchange can be voided or not .

Q: Is a liability a debit or a credit?

A: Liability is an obligation for any business entity. It simply means that the entity has owed…

Q: Under IFRS, revenue from barter transactions should be measured based on the fair value of revenue…

A: Revenue is described as the amount which is earned by the business through sale of its goods or…

Q: Give the FIRST exception to the general rule that: If the consideration of the contract consists…

A: If the consideration of the contract consists partly in money and partly in another thing, the…

Q: Distinguish between suspension of payments and insolvency.

A: Suspension of payment Suspension of payment implies temporary financial problems by enabling him/her…

Q: What is the relationship of the promissory note between the maker and the payee?

A: A note of hand can be a financial instrument that contains a written promise by one party (the…

Q: Explain the characteristics of a bill of exchange and state the ways a bill of exchange Inay be…

A: The question is related to Bill of exchange. A Bill of Exchange has been defined as an instrument in…

Q: Is the following statement is true or false? Amortization is not a payment process.

A: Amortization refers to the process of paying off a debt through scheduled, pre-determined…

Q: What are the issues involved in determining if signing a bonus is an asset or an expense?

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…