Answer:
b. The chart of accounts is a list of accounts that includes numbers and descriptions.
c. The general ledger is a list of accounts that includes numbers, descriptions, and changes in those accounts.
d. The general ledger is known as the core of any accounting system.
Explanation:
The chart of account refers to the various types of accounts i.e revenue, expenditure, asset, liabilities and so on which depicts the number of accounts, the descriptions of account, nature of the account, and the categories in which they are lying.
Whereas the general ledger is the recording of the transactions held by the business which also includes account number, their descriptions, and the changes held in those accounts. Plus, it is also known as the core of any accounting system
Answer:
2.49 times
Explanation:
The computation of the current ratio is shown below:
Current ratio = Total Current assets ÷ total current liabilities
where,
Total Current assets = $147,000
And, the total current liabilities = $59,000
So, the current ratio is
= $147,000 ÷ $59,000
= 2.49 times
By dividing the total current assets by the total current liabilities we can get the current ratio and it always be expressed in a ratio
Answer: Please refer to Explanation
Explanation:
1. More customers are indeed purchasing online in this ever developing technological scene in this 21st century. One just has to look at the value of Amazon with it's over a trillion dollars market Capitalization. They have cornered the online scene and are reaping the benefits.
Things are looking quite bleak for offline retailers because these online stores offer one great thing, Convenience. Along with that they offer things like discounts and free delivery.
To reverse the trend that online stores have, offline retailers need to MATCH the SERVICES they OFFER as well as CAPITALIZE on the services they DON'T OFFER.
For instance, online stores do not have that personal touch of a sales person guiding them and explaining the perks of a product. In essence, retailers should work on their CUSTOMER SERVICE. They should treat customers in such a way that the customers would always want their assistance when buying things and would not mind coming all the way to the store to buy it. This is one way to hit them in places they don't offer services in.
Then you can also hit them in areas they rule. Such as opening a small website and marketing your goods. The world is moving online and to avoid it is death. Make a small website that has your products and offer delivery services coupled with telemarketing to explain anything needed.
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2. Brick and Mortar stores are still very important even in this day and age. With Brick and Mortar stores things like trust are easier to establish. This is because when you come to buy your goods you can touch them, you can see and smell them, you KNOW what you ARE BUYING. With online sites you can sometimes buy something and another thing arrives and returning it can be a hassle. With Brick and Mortar stores you can buy knowing that you bought what you saw you wanted and even if you want to return it you can.
Brick and Mortar stores also provide an actual SHOPPING EXPERIENCE because when you're in them you're surrounded by goods not just staring at a screen. You can also socialise with people here and build valuable relationships.
Brick and Mortar stores are still very much important.
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