Both ________ and ________ are monetary liabilities of the fed.

Which is the correct sequence for recording transactions and preparing financial statements?

zheka24 [161]

Answer:

The answer is B.

Explanation:

The first is the journal. A journal entry may be a summary of the debits and credits of the transaction entry to the journal.

Followed by a ledger which may be a book containing accounts during which the classified and summarized information from the journals is posted as debits and credits.

Trial balance which is that the listing of all accounts (asset, liability, equity, revenue, expense) with the ending account balance or or its a report that lists the balances of all book accounts of a corporation at a specific point in time.

And lastly the financial statements. they're written records of a business's financial situation

8 0

3 years ago

Game theory assumes that: Group of answer choices firms anticipate rival firms' decisions when they make their own decisions. fi

muminat

Answer:

firms anticipate rival firms' decisions when they make their own decisions.

Explanation:

Game theory assumes that firms anticipate rival firms' decisions when they make their own decisions. It is very important and necessary for understanding firms operating in an oligopolistic market.

An oligopoly can be defined as a market structure comprising of a small number of firms (sellers) offering identical or similar products, wherein none can limit the significant influence of others.

Hence, it is a market structure that is distinguished by several characteristics, one of which is either similar or identical products and dominance by few firms.

This ultimately implies that, under the game theory, when firms makes a decision about their business, it is expected that they consider how the other firms would react to such decisions.

3 0

2 years ago

Discuss the 3 types of bailments and identify the legal ramifications regarding possession or acquisition and treatment of the b

ra1l [238]

Answer:

Three types of bailments are:

1) Bailment that benefits both the bailor and the bailee.

2) Bailment that benefits only the bailor.

3) Bailment that benefits only the bailee.

Explanation:

Bailment can be understood as a temporary transfer of the property from one person to another for a given specific time period and also for some specific purpose. There is a difference between bailment and the sale, as in the former the ownership of the property is not transferred. The owner of the property who delivers the property to another person is called bailor, whereas, the person who temporarily receives the property is called bailee.

There are basically three types of bailment:

1) Bailment that benefits both the bailor and the bailee: In this case, both the party benefits in the bailment process. The most suitable example is renting a house for another person for a living. Here, the bailor is benefited as he receives the renting fee and the bailee gets the house for living.

2) Bailment that benefits only the bailor: In this only, the bailor is benefited in the bailment process. The best example is the free car parking service by a valet. The bailor is benefited as he gets the car parking service, but as the service is free, the bailee does not receive any benefit out of it, However, the damage to the car might incur certain liability on the hands of the bailee.

3) Bailment that benefits only the bailee: In this bailment procedure, only the bailee is the one who receives the benefits. The most appropriate example of this is the library system. In the library, the person who borrows the book is the bailee and receives the benefit in the form of a book, whereas, the bailor (library) does not benefit anything out of it.

Some legal ramifications related to the possession and acquisition of the bailment:

If the bailment term is over, then the bailor has the right to reclaim the property from the bailee and bailee has to return it to the bailor. However, if the term is over after a certain fixed period of time and the bailor has not claimed for the property, then the bailee can address the property as abandoned to the bailor.

In other cases, if the bailor has not reclaimed the property or did not make any attempt to do so, and the fixed duration has passed, then in such case, the bailee can claim the property as its own. However, to stay in good faith, the bailee should show the bailor that the property has been abandoned.

7 0

2 years ago

Extremely low-incidence studies, such as trying to survey the automobile buyer characteristics of astronauts are usually not fea

Nina [5.8K]

Answer:

The correct answer is D

Explanation:

Feasibility analysis is the analysis which is used in order to determine or state the viability of the project like ensure the project is legal and economically justifiable and technically feasible.

In short, it states that the project is worth or not the investment. So, when the studies indicate the low incidence, then the firm is concerned regarding the feasibility of the project, that it would probably determine or state whether or not the questions could be answered.

7 0

3 years ago

Which of the following most accurately states the economic significance of exchange? a. Physical goods have value because they e

Annette [7]

Answer:

c. Exchange creates value by moving goods from parties who value them less to parties who value them more.

Explanation:

Exchange is described as the process of changing some goods for some other goods.

Exchange clearly provides you with the goods you value for, and in exchange for those goods you pay the goods you do not value.

This, results in adding value to the goods acquired by you, and adds value to the goods given by you for the person to whom it is exchanges.

As for example when a cloth is purchased by me for $100 then such adds the value to cloth and because it was worth less than $100 for the seller it has added value to the cloth.

6 0

3 years ago