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2 years ago

The recording of business transactions is a basic part of financial reporting and is referred to as:.

1 answer:

4 0

The recording of business transactions is a basic and fundamental component of financial reporting and is known as<u> bookkeeping.</u>

<h3>What is Bookkeeping?</h3>

Bookkeeping is the process of recording financial transactions. It entails preparing reference papers for all company transactions, activities, and other occurrences.

The primary goal of bookkeeping is to maintain a comprehensive and precise record of all operations and transactions in a methodical, ordered, and logical way. This guarantees that the financial consequences of these activities are accounted for in the accounting books.

Learn more about Bookkeeping here:

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Indicate how each of the following would shift the (1) marginal-cost curve, (2) average-variable-cost curve, (3) average-fixed-c

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Answer:

a. A reduction in business property taxes. Fixed cost.

Marginal cost curve = No change

Average variable cost curve = No change

Average-fixed-cost curve = Shift down

Average-total-cost curve = Shift down

b. An increase in the nominal wages of production workers is a Variable cost.

Marginal cost curve = Shift up

Average variable cost curve = Shift up

Average-fixed-cost curve = No change

Average-total-cost curve = Shift up

c. A decrease in the price of electricity (Variable cost)

Marginal cost curve = Shift down

Average variable cost curve = Shift down

Average-fixed-cost curve = No change

Average-total-cost curve = Shift down

d. An increase in insurance rates on plant and equipment. (Fixed cost)

Marginal cost curve = No change

Average variable cost curve = No change

Average-fixed-cost curve = Shift up

Average-total-cost curve = Shift up

e. An increase in transportation costs. (Variable cost)

Marginal cost curve = Shift up

Average variable cost curve = Shift up

Average-fixed-cost curve = No change

Average-total-cost curve = Shift up

Explanation:

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3 years ago

What types of money are included in the M2 category? Check all that apply.

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Answer:

A B C E

Explanation:

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2 years ago

Under the modern traditional theory, the sovereign may nationalize foreign-owned property only where: a. it is for a public purp

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Answer: a. it is for a public purpose.

Explanation:

According to the Modern Traditional theory on compensation which deals with the seizure of foreign-owned property by the government of the nation in which the property is located, the sovereign authorities may nationalize foreign-owned property if it is deemed to be for public use.

If the government has shown that nationalization is for the good of the nation, the theory espouses that it is allowed. They would however have to provide adequate compensation to those whom the property was seized from.

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3 years ago

What is a federal and/or state tax on specific goods like gasoline, tires, airfare, or cigarettes?

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An excise tax is a <span>federal and/or state tax on specific goods like gasoline, tires, airfare, or cigarettes. Excise taxes are most always included in the price of the product.</span>

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3 years ago

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Elizabeth is a chef and the kitchen manager in an upscale restaurant. she is very knowledgeable in both the culinary and restaur

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Because she possesses these technical skills, Elizabeth can be considered a <u>"knowledge"</u> worker.

A knowledge worker is any individual who works professionally at the errands of creating or utilizing knowledge. For instance, a knowledge laborer may be somebody who works at any of the assignments of arranging, obtaining, looking, breaking down, sorting out, putting away, programming, dispersing, advertising, or generally adding to the change and business of data and those (frequently similar individuals) who work at utilizing the information so created.

Knowledge work can be separated from different types of work by its accentuation on "non-schedule" critical thinking that requires a mix of concurrent and unique thinking. Yet in spite of the measure of research and writing on information work, there is no brief meaning of the term.

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3 years ago