Identify the item that best completes each of the descriptions below. 1. Asset 2. Equity 3. Account 4. Liability 5. Three a. Balance sheet accounts are arranged into. general categories. b. The owner'
Answers
a. Balance sheet accounts are arranged into five general categories.
b. The owner's claim on a company's assets is called equity.
c. Accounts Payable and Notes Payable are examples of liability accounts.
d. Accounts Receivable, Prepaid Accounts, Supplies, and Land are examples of asset accounts.
e. A(n) account is a record of increases and decreases in a specific asset, liability, equity, revenue, or expense item.
In financial accounting, a balance sheet is a statement that provides a snapshot of a company's financial position at a specific point in time. It presents a summary of a company's assets, liabilities, and equity. The balance sheet accounts are grouped into five main categories: assets, liabilities, equity, revenue, and expenses.
Assets represent the resources owned by a company and can be tangible (e.g., cash, inventory, property) or intangible (e.g., patents, trademarks). Liabilities are obligations owed by a company to external parties, such as loans, accounts payable, or accrued expenses. Equity represents the owner's claim on the company's assets, and it is calculated as the difference between assets and liabilities.
Accounts Payable and Notes Payable are examples of liability accounts because they represent amounts owed to creditors. Accounts Receivable, Prepaid Accounts, Supplies, and Land are examples of asset accounts because they represent resources owned by the company.
Lastly, an account is a record or a financial record that tracks the increases and decreases in a specific item (such as an asset, liability, equity, revenue, or expense) over a given period. It helps in tracking transactions and maintaining accurate financial records for reporting and analysis purposes.
for such more questions on company's
https://brainly.com/question/6528766
#SPJ8
Note-The complete question is this
Identify the item that best completes each of the descriptions below.
1. Asset 2.Equity 3. Account 4. Liability 5. Three
a. Balance sheet accounts are arranged into ______ general categories.
b. The owner's claim on a company's assets is called ______ .
c. Accounts Payable and Notes Payable are examples of ______accounts.
d. Accounts Receivable, Prepaid Accounts. Supplies. and Land are examples of ______ accounts.
e. A(n) ______ is a record of increases and decreases in a specific asset, liability, equity. revenue, or expense item.
Related Questions
A problem with the specific identification method is that:.
Answers
The specific identification method is that it can be difficult to determine which inventory item sold and which one remains in stock. Additionally, there is a possibility of assigning high-cost items to COGS, resulting in low-profit margins.
What is Specific Identification Method?Specific Identification Method is an inventory management technique that assigns specific costs to each unit sold, resulting in accurate calculation of cost of goods sold (COGS). It is generally used in businesses that have high-value inventory items such as car dealerships, jewelers, or antique dealers.
It requires the tracking of each item individually, including the date of purchase, purchase price, and other associated costs. The specific identification method can result in a more accurate determination of COGS, and in turn, more accurate financial statements. This is due to the fact that this method allows the business to allocate costs more accurately, reflecting the actual cost of inventory sold and the actual gross margin.
However, this method has some issues that can lead to problems. One of the most significant drawbacks is the difficulty of determining which inventory item was sold and which one remains in stock. Furthermore, this method is not as useful in businesses where inventory items are indistinguishable, and assigning specific costs to each item is not feasible.
Learn more about inventory
https://brainly.com/question/31146932
#SPJ11
Indicating when and how written and oral reports will be provided by the team, how team members will coordinate work, what messages will be sent to announce the project to interested parties, and what kinds of information will be shared with vendors and external contractors involved with the project describes: A. developing a Statement of Work B. determining project standards and procedures C. developing a communication plan D. setting a Baseline Project Plan
Answers
Answer:
hi yo Wassup
Explanation:
hi and should be therw see ya. did you know the song woman? by doja cat
What are the benefits of insurance to individuals and to society?
Answers
Insurance plans are beneficial to anyone looking to protect their family, assets/property and themselves from financial risk/losses.
• Insurance policies will aid in covering the cost of any future medical care that you may need as well as any emergencies or hospitalisations that may arise.
• Insurance plans can assist in reducing the financial loss incurred by the family as a result of the unexpected death of the family's main source of income.
• Insurance protection will help your family maintain their standard of living if you die away in the future. This will help them use the one-time insurance benefit to cover home bills.
• Insurance plans can help you protect your child's future academic opportunities. Even when you are not around, they will see to it that your kids have enough money to live comfortably while pursuing their goals and desires without giving anything up.
Visit here to learn more about Insurance: https://brainly.com/question/7139951
#SPJ4
ryan company deposits all cash receipts on the day they are received and makes all cash payments by check. ryan's june bank statement shows a $21,861 balance in the bank. ryan's comparison of the bank statement to its cash account revealed the following: deposit in transit2,150outstanding checks1,026additionally, a $45 check written and recorded by the company was incorrectly recorded by the bank as a $54 deduction.the adjusted cash balance per the bank records should be:multiple choice$22,994$22,976$25,046$18,694$22,985
Answers
The adjusted cash balance will be $22,985. Thus the correct option is D.
The sum of cash you need in your savings account is the Adjusted Cash Balance.
Adjusted in Cash balance per the bank record
bank balance 21,861
Deposit in transit 2,150
24,011
Outstanding check (1,026)
Adjusted cash balance 22,985
The adjusted Cash balance record is 22,985.
To learn more about adjusted cash balance, visit:
brainly.com/question/26699275
#SPJ4
What are the 3 Economic Indicators ?
Answers
Leading indicators, Lagging indicators, and coincident indicators are the three Economic Indicators .
Macroeconomic data that describe the state of an economy are known as economic indicators. Use them to ascertain if an economy is thriving and growing or struggling and shrinking. Economic indicators are available in three varieties: coincident indicators, lagging indicators, and leading indicators. Leading indicators are thought to anticipate economic trends. These statistics are used by analysts to try and predict changes in the business cycle. Coincident indicators change concurrently with the business cycle and capture the state of the economy at any given time. Lagging signs include things like Average time spent unemployed ,
average prime rate that banks charge ,The cost of labour per unit of production has changed.
Government or nonprofit institutions, such as the Conference Board, the Federal Reserve System, the Bureau of Labor Statistics, and others, publish the most trustworthy and thoroughly scrutinised economic indicators.
For such more questions on Economic indicators:
brainly.com/question/29805891
#SPJ4
What is the answer ?
Answers
Answer:
the answer is the first one
Answer:
A. Third party who can assist in negotiating an end to a conflict
Explanation:
the competitive-parity method of setting promotion budgets prevents promotion wars between companies. true false
Answers
Promotional warfare between businesses are avoided by using the competitive-parity strategy to establish budget for promotions. Brand integration takes the form of product placement. So given statement is true.
Which of the following about an affordable way to set a marketing budget is most likely true?Which of the following is true about the most practical way to create a budget for advertising? Following the deduction of operational costs and capital expenditures from total revenues, the amount spent on advertising is determined.
Which of the following approaches is typically used to determine the budget for promotions?The percentage of sales technique is the one that small firms most frequently employ due to its simplicity. This approach involves the advertiser taking a portion of either recent or projected sales and allocating that portion of the total budget to advertising.
To know more about budget visit:
https://brainly.com/question/15683430
#SPJ4
Who carries the animal from the farm to the market or packer?
A. Producer
B. Proccessor
C. Transporter
D. Consumer
Answers
Answer:
was it a passage u had to read?
Explanation:
Answer:
Transporter
Explanation:
You are transferring the animal to the market from the farm.
Question 9 of 10
If a new source of lumber is found, what is likely to happen to the price of
lumber, and why?
A. The price is likely to increase because demand will increase.
B. The price is likely to increase because costs of production will
increase
C. The price is likely to decrease because demand will decrease.
O D. The price is likely to decrease because supply has increased.
SUBMIT
Answers
Answer:
O D. The price is likely to decrease because supply has increased.
SUBMIT
Explanation:
A new source of lumber will result in an increase in the quantity available for sale. As per the laws of supply and demand, an increase in supply without a corresponding increase in demand leads to reduced prices.
The prevailing market price or equilibrium price is the price at which the current demand matches the current supply. There are no shortages or excesses. An increase in supply creates a surplus in the market. For suppliers to sell the excess lumber supplied, they have to reduce prices to create more demand.
.ytt5568ug and a few of
Answers
Answer:
what is the question fam
The _______ system gives both producers and consumers important information they use in making decisions about how to allocate their resources and is determined by forces of supply and demand.
Answers
Answer:
Free market.
Explanation:
As the name implies, this is known to be a market flow type or pattern where individuals are said to have charge and are in control of the pattern of their marketing. It is see also here that government is not having a high or upper hand in the affairs of their market dealings; therefore, governmental monopoly is directly cut off from them in this marketing system. It is known that laws also in this system are exchanged willingly amongst those doing the demand and supplying
in other words providing the sole basis for the economic system.
Match the job titles with career clusters executive secretary survey researcher Storage and distribution manager loan officer cargo and freight agent general manager
Answers
Answer:
Accountant - Finance
Survey Researcher - Science, Technology, Engineering and Mathematics
Loan Officer - Finance
Cargo and Freight Agent - Transportation, Distribution and Logistics
General Manager - Business Management and Administration
Executive Secretary - Business Management and Administration
Storage and Distribution Manager - Transportation Distribution and Logistics
Purchasing Agent - Manufacturing
Explanation: i took the test and got 100
Matching the job titles with career clusters are Executive Secretary in Business Management and Administration, Survey Researcher in Science, Technology, Engineering and Mathematics.
What are career clusters?Career Clusters provide students with a context for studying traditional academics and learning the skills specific to a career, and provide U.S. schools with a structure for organizing or restructuring curriculum offerings and focusing class make-up by a common theme such as interest.
In the U.S. Department of Education model, 17 Career Clusters link to 70+ more specific Career Pathways each having its knowledge and skills requirements. Within the 70+ career pathways, 1800 Career Specialties are defined. The structure has evolved and may vary by state. Matching more job titles with career clusters are Storage and Distribution Manager - Transportation Distribution and Logistics, Loan Officer Finance, and Cargo and Freight Agent - Transportation.
Further, Distribution and Logistics, General Manager - Business Management and Administration.
Learn more about career, here:
https://brainly.com/question/30040900
#SPJ6
31)Private property and competition between businesses are common in
economies that are
(Help me plss)
A)socialist
B)communist
C)capitalist
Answers
Answer:
C)capitalist
Explanation:
Market economies and mixed economies can be described as capitalist economies. In capitalist economies, private individuals and firms own the factors of production or capital goods. The private sector produces goods and services consumed in the economy. The motive for producing the goods is the private sector's self-interest or profits.
The free enterprise market is the purest form of a capitalist economy. Capitalist economies contrast with socialists economies where ownership of capital goods is in the government's hands.
The term t (in years) of a $200,000 home mortgage at 7.5% interest can be approximated by the function below, where x is the monthly payment in dollars.
t = 13.375 ln( x/ x-1250) , x > 1250
(a) Use a graphing utility to graph the model.,
(b) Use the model to approximate the term of a home mortgage for which the monthly payment is $1390. (Round your answer to the nearest year.)
________ yr What is the total amount paid? (Round your answer to two decimal places.)
$
(c) Use the model to approximate the term of a home mortgage for which the monthly payment is $1610. (Round your answer to the nearest year.)
yr
What is the total amount paid? (Round your answer to two decimal places.)
$ (d) Find the instantaneous rates of change of t with respect to x when x = $1390 and x = $1610. (Round your answers to four decimal places.)
t '(1390) =t '(1610) =
(e) What are the benefits (if any) of higher monthly payment. (Select all that apply.)
a. there are no benefits
b. payment over a shorter term
c. a lower total amount paid
d. the two payments are the same
Answers
(a) Using a graphing utility, the given model can be plotted by entering the function t = 13.375 ln(x/(x-1250)), where x is the monthly payment in dollars greater than $1250.
(b) Substituting x = $1390 into the model, we can approximate the term of the mortgage to be approximately 14 years. To find the total amount paid, we multiply the monthly payment by the number of months in 14 years, which is $1390 * 12 * 14 = $251,880.
(c) Similarly, substituting x = $1610 into the model, we can approximate the term of the mortgage to be approximately 9 years. The total amount paid can be calculated as $1610 * 12 * 9 = $218,160.
(d) To find the instantaneous rates of change of t with respect to x, we need to find the derivative of the function t = 13.375 ln(x/(x-1250)). Evaluating the derivative at x = $1390 and x = $1610 will provide the respective instantaneous rates of change.
(e) The benefits of a higher monthly payment include payment over a shorter term, as a larger payment allows for faster repayment of the mortgage. Additionally, a higher monthly payment results in a lower total amount paid over the duration of the mortgage. Therefore, the correct options are (b) payment over a shorter term and (c) a lower total amount paid.
Learn more about mortgage from here:
https://brainly.com/question/8084409
#SPJ11
Every component, from producer to grocery store, contributes to the process of the___ chain
Answers
Answer:
Supply Chain
Explanation:
Supply Chain is the route of flow of goods and services starting from the producer/manufacturer/service provider to the end use consumer.
The supply chain network has various other segments such as logistics, distributors, retail supplier, etc.
Hence, the correct answer is the "Supply"
An example of organizational antecedents is a. Scarcity of resources b. Role ambiguity c. Promotions d. Democratic decision making e. All of the above
Answers
Answer:
decision making
democratic
State the purpose of assets
Answers
Answer:
Assets are reported on a company's balance sheet and are bought or created to increase a firm's value or benefit the firm's operations. An asset can be thought of as something that, in the future, can generate cash flow, reduce expenses or improve sales, regardless of whether it's manufacturing equipment or a patent.
Explanation:
Hope this helps!
the primary difference between franchise ownership and management contracts is:
Answers
Franchise ownership and management contracts are two different types of business models that companies can use to expand their operations. The primary difference between them lies in the level of control and ownership that each party has over the business.
In a franchise ownership model, the franchisor grants the franchisee the right to use its business name, trademark, and operating system in exchange for an initial fee and ongoing royalties. The franchisee typically owns the business and is responsible for operating it in accordance with the franchisor's guidelines. The franchisor provides the franchisee with training, marketing, and other support services, but ultimately, the franchisee has a greater degree of control and ownership over the business.
In contrast, a management contract is an agreement between two parties in which one party (the management company) agrees to manage all or part of the operations of another party's business in exchange for a fee or a share of the profits. The management company typically has more control and decision-making authority over the business than the other party, which may be a separate entity or an individual owner. In this model, the management company is responsible for hiring and training staff, implementing business strategies, and managing day-to-day operations, while the other party retains ownership of the business.
Overall, the primary difference between franchise ownership and management contracts lies in the level of control and ownership that each party has over the business. Franchise ownership is typically more focused on providing a framework and support system for the franchisee to run their own business, while management contracts involve more direct involvement and decision-making by the management company
Learn more about Franchise ownership here:
https://brainly.com/question/1807192
#SPJ11
I will give out the brain thing (idk what it’s called) to whoever has the best answer on getting it. It can be serious, funny, sad, etc. Good luck!
Answers
i smashed my step sister and my step mom. is that good enough?
The CEO does not fully understand which are the options enabled by the dynamic allocation of resources. Which of the following paragraphs best describes them: O When you need computing power you access the cloud and use some of the resources. When you do not need computing power. other companies will use it. In case you need more (or less) computing power, the system adapts the resources of your virtual computer(s). It can also switch your virtual computer(s) to different computer centers in other locations. O When you need computing power you access the cloud and use some of the resources. When you do not need computing power. other companies will use it. O When you need computing power you access the cloud and use some of the resources. When you do not need computing power. other companies will use it. In case you need more (or less) computing power, the system adapts the resources of your virtual computer(s). O When you need computing power you access the cloud and use some of the resources. When you do not need computing power. other companies will use it. In case you need more (or less) computing power, the system adapts the resources of your virtual computer(s). It can also switch your virtual computer(s) to different computer centers in other locations. Beside, it allows you to use different operating systems.
Answers
The paragraph that best describes the options enabled by dynamic allocation of resources is: "When you need computing power, you access the cloud and use some of the resources. When you do not need computing power, other companies will use it."
The selected paragraph accurately describes the options enabled by dynamic allocation of resources. It states that when computing power is required, users can access the cloud and utilize a portion of the available resources. However, when the computing power is not needed, those resources are made available to other companies or users. This concept highlights the flexibility and efficiency of resource allocation in the cloud. It ensures optimal utilization of resources, as they are dynamically allocated based on demand. The paragraph does not mention additional features like adapting resources, switching computer centers, or using different operating systems, so it focuses solely on the core concept of sharing and utilizing computing power as needed.
Learn more about companies here:
https://brainly.com/question/32531667
#SPJ11
Question 10 of 10
What is an advantage of doing more than the minimum required to comply
with EEOC laws and regulations?
Answers
The advantage of doing more than the minimum required to comply with EEOC laws and regulations is that, most employers with at least 15 employees are covered by EEOC laws.
The U.S. Equal Employment Opportunity Commission (EEOC) is responsible in order to enforce the federal laws which make it illegal for employers to discriminate an employee because of their color, race, religion, sex, national origin, age etc.
So, the EEOC's investigation of one's complaint depends on the facts of the case, and the kinds of information one needs in order to gather. In some cases, employers are interviewed and then the information is gathered.
Hence, the EEOC advances opportunity in the workplace.
To learn more about EEOC here:
https://brainly.com/question/17272424
#SPJ1
What information does a lead contain in a news story?
Answers
Answer:
1st one
Explanation:
true or false: acceptance sampling is optimized at the point when an organization maximizes the total cost of inspections and the number of defectives reaching customers.
Answers
The given statement of customer is true.
What do you mean by customer?
A customer is the recipient of a good, service, product, or idea gained from a seller, vendor, or supplier through a financial exchange or transaction for money or some other valuable consideration. "By definition, consumers encompass us all," President John F. Kennedy stated to the United States Congress on March 15, 1962. This speech sparked the establishment of World Consumer Rights Day, which is today celebrated on March 15. A customer in an economy purchases goods or services for personal consumption rather than resale or business objectives.
To learn more about customer
https://brainly.com/question/380045
#SPJ4
when calculating gfp, economists can avoid multiple counting by
Answers
When calculating gross domestic product (GDP), economists can avoid multiple counting by measuring only the final goods and services produced within a specific time frame. This is important because GDP is a measure of the overall economic output of a country or region and including intermediate goods and services would lead to an overestimation of that output.
In other words, if we counted all the intermediate goods and services, the GDP would be inflated since these goods and services are already included in the price of final goods and services. This would mean that we are counting some goods twice and the measure would be an overstatement of the actual economic performance of the country.Therefore, to avoid the double counting of these goods and services, we measure only the value of the final goods and services and exclude intermediate goods and services from the calculation of GDP.
This method of calculation is known as the value-added method, where the value added at each stage of production is calculated and only the final value added is included in the GDP. This ensures that the measure is an accurate reflection of the economy's output.The value-added method is one of three methods used to calculate GDP. The other two methods are the expenditure method and the income method. The expenditure method adds up all the spending on final goods and services in the economy, while the income method adds up all the income earned in the production of final goods and services.
To know more about gross domestic product visit :
https://brainly.com/question/32169010
#SPJ11
Match the items with their descriptions.
copyright owner
fair use of copyright materials
government publications
a life span of 20 years
use and display the copyrighted material
exempt from the Copyright Law
paraphrase articles for news reports
patents
Answers
Each of the items should be matched with the correct and appropriate descriptions as follows:
Government publications: a life span of 20 years.Copyright owner: use and display the copyrighted material.Fair use of copyright materials: exempt from the copyright law.Patents: paraphrase articles for news reports.What is copyright law?Copyright law simply refers to a set of formal rules and regulations that are granted by the government to protect an intellectual property (IP), especially by giving the creator or original author an exclusive right to use during his or her lifetime, while preventing any unauthorized access, unlawful use or duplication by other parties.
In this context, we can reasonably infer and logically deduce that a copyright grants a creator the exclusive right to use the creation during his or her lifetime, including the creator's heirs for 70 years after the creator's death.
Read more on copyright laws here: brainly.com/question/27832510
#SPJ1
Government publications- a life span of 20 years. Copyright owner - use and display the copyrighted material. Fair use of copyright materials - exempt from the copyright law. Patents - paraphrase articles for news reports.
What is Government publications?A government publication is defined as "informational material issued as an individual document at Government expense, or as required by law" under the United States Code.
Census data, statistical information, reports, journal articles, Royal Commission findings, parliamentary documents, legislation, and legal citations are a few examples of government publications.
Thus, statements are match correctly above.
For more information about Government publications, click here
https://brainly.com/question/23418355
#SPJ1
The main goal of the ________ is to motivate employees to improve team- or company-level efficiency.
Answers
Answer:
ProMES
Explanation:
List the five most common functions of business reports for an
organisation that manufactures electric cars for 1, 2 or 4
passengers. Name the users and the stakeholders involved in each
function.
Answers
The five most common functions of business reports for an organization that manufactures electric cars for 1, 2, or 4 passengers, along with the users and stakeholders involved.
Are as follows: Sales and Marketing Analysis:
Users: Sales and marketing teams, executives.
Stakeholders: Customers, dealerships, investors, shareholders.
Production and Inventory Management:
Users: Operations managers, production teams.
Stakeholders: Suppliers, logistics partners, investors.
Financial Performance Evaluation:
Users: Finance department, executives.
Stakeholders: Investors, shareholders, lenders, regulatory authorities.
Quality Control and Product Development:
Users: Quality control teams, research and development teams.
Stakeholders: Customers, regulatory authorities, investors.
Sustainability and Environmental Impact Assessment:
Users: Environmental compliance teams, sustainability managers.
Stakeholders: Regulatory authorities, customers, environmental organizations, investors. These functions and their corresponding reports serve different purposes and cater to various users and stakeholders within and outside the organization. By analyzing these reports, decision-makers can make informed choices, assess performance, ensure quality, drive innovation, and address sustainability concerns in the manufacturing and marketing of electric cars.
Learn more about organization here:
https://brainly.com/question/32941467
#SPJ11
Select the correct answer.
From the following balances of Casper Inc., calculate the free cash flow of Casper Inc.
Answers
From the given balances of Casper Inc., the free cash flow of Casper Inc. can be calculated as $917,000. Hence the correct option is c.
Give a brief account on free cash flow.Free cash flow (FCF) refers to the cash a company generates after accounting for cash outflows in order to support its business and maintain its fixed assets. Unlike earnings and net income, free cash flow is a measure of profitability, excluding non-cash expenses on the income statement and including spending on equipment and assets, and changes in working capital from the balance sheet. increase.
Free cash flow = Net operating profit after taxes - Net investment in operating capital.
Net operating profit after taxes = Cash flow from operating activities
Net investment in operating capital = Sale of machinery + Dividend paid
Free cash flow = 1,000,000 - (30,000 + 53,000)
Free cash flow = 1,000,000 - 83,000
Free cash flow = $ 917,000
To know more about Free cash flow, visit:
https://brainly.com/question/14762501
#SPJ1
3. ______ are defined as goods or services that are required for health and safety.
Answers
Occupational Health and Safety are defined as goods or services that are required for health and safety. Information standards are guidelines governing the information that must be provided to consumers when they purchase specific goods.
What is the safety of goods?A safe product is one that delivers either no risk or a minimum tolerable level of risk, taking into account the product's typical or reasonably foreseeable use and the need to maintain a high level of consumer protection.
Occupational health and safety is a multidisciplinary discipline that deals with all elements of workplace health and safety, with a heavy emphasis on preventing workplace dangers.
Learn more about the safety of goods here:
https://brainly.com/question/28480753
#SPJ1
The unearned revenue account of incorporated began with a normal balance of and ended with a normal balance of. During , the unearned revenue account was credited for that will earn later. Based on these facts, how much revenue did earn in ?.
Answers
Earned revenue is $14,000
Beginning unearned revenue + Advance payments - ending unearned revenue = Earned revenue
($7,000 + $20,000 - $13,000 = $14,000)
Earned revenue is the cash a charity receives in exchange for delivering goods or services. For museums and nonprofit performing arts groups, sales of tickets and entrance fees are typical sources of earned money. Items like sales in a gift shop or thrift store also produce earned revenue. Earned income is not generally prohibited by tax law; rather, the question is whether the income is connected to the charitable goals of the nonprofit. The charity must pay unrelated business income tax on any money received if it routinely engages in a trade or activity that is not closely linked to its exempt purpose. Additionally, if the organization derives a sizable portion of its overall income from unrelated commercial ventures
To know more about Earned revenue refer to https://brainly.com/question/14055175
#SPJ4