All categories

2 years ago

Question 2 of 20

Business

1 answer:

Dominik [7]2 years ago

6 0

Answer: (B)

Explanation: so you can save your money that is the wi way

You might be interested in

An employee that only has the authority to use the employer's credit card for business expenses has what kind of relationship?

Andrew [12]

Answer:

a. Universal agent

Explanation:

The universal agent is an employee that has been appointed by the employer to do particular task. It could be appointed via power of attorney through which he can perform all types of functions

Therefore as per the given situation since the employee can use the credit card of the employer for the business expense so this represent that the relationship is of universal agent

hence, the correct option is a.

3 0

3 years ago

At the beginning of the year, Uptown Athletic had an inventory of $640000. During the year, the company purchased goods costing

Nataly_w [17]

Answer:

Cost of Goods Sold = $1,700,000

Gross Proft = $1,740,000

Explanation:

We solve this assingemtn using the inventory identity:

$$$Beginning Inventory + Purchase = Ending Inventory + COGS$

We post the given and solve for the missing part:

640,000 + 2,020,000 = 960,000 + COGS

COGS = 640,000 + 2,020,000 - 960,000 = 1,700,000

Next we use the COGS value to calculate the gross profit.

$Sales \: Revenues- \: COGS = \: Gross \: Profit$

3,440,000 - 1,700,000 = 1,740,000

8 0

4 years ago

A personal financial statement is also called which of the following?

Phantasy [73]

Answer:

The term personal financial statement refers to a document or spreadsheet that outlines an individual's financial position at a given point in time. The statement typically includes general information about the individual, such as name and address, along with a breakdown of total assets and liabilities. The statement can help individuals track their financial goals and wealth, and can be used when they apply for credit.

3 0

3 years ago

What are five groups of people to whom business communication might write letters of appreciation?

34kurt

Answer:

expressing thanks for a gift, sending thanks for a favor, extending thanks for hospitality, and recognizing employees for their contribution, to answer a congratulatory note.

7 0

4 years ago

What is journal and ledger

Mila [183]

Answer:

ledger account contains a record of business transactions.

while

journal is defined as the book of original entry.

Explanation:

A ledger account contains a record of business transactions. It is a separate record within the general ledger that is assigned to a specific asset, liability, equity item, revenue type, or expense type. Examples of ledger accounts are: Cash. Accounts receivable.

A journal is a detailed account that records all the financial transactions of a business, to be used for future reconciling of and transfer to other official accounting records, such as the general ledger

5 0

3 years ago