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In January 2020, Ricardo Ltd. estimated that its year-end bonuses to executives for calendar 2020 would be $ 960,000. In February 2020, $ 870,000 was paid in bonuses for the 2019 year-end. The estimate for 2020 is subject to year-end adjustment. How much bonus expense should be reflected in Ricardo's interim income statement for the three months ended March 31, 2020?
Sustainable Procurement
The acquisition of goods and services in a way that achieves value for money on a whole life basis in terms of generating benefits not only to the organization but also to society and the economy, while minimizing damage to the environment.
Buying Process
The sequence of steps a consumer or organization follows from recognizing a need, through purchase, to post-purchase evaluation.
Environmental Considerations
Assessment of the environmental impacts associated with products or activities and the implementation of measures to reduce negative effects.
Supply Partnership
A long-term relationship between a buyer and a supplier characterized by mutual cooperation, shared risks, and investments to achieve joint value creation.
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