<span>American Express credit cards and credit cards in general are a type of revolving charge account. Credit cards are regarded as a revolving charge account or revolving credit because if the balance is not paid off by the period specified, it will roll over to the next period (and collect interest), thus "revolving" into the next period. This is how the debt compounds if you are not responsible with your credit cards.</span>
Double entry, a fundamental concept underlying present-day bookkeeping and accounting, states that every financial transaction has equal and opposite effects in at least two different accounts. It is used to satisfy the accounting equation:
Assets
=
Liabilities
+
Equity
Assets=Liabilities+Equity
With a double entry system, credits are offset by debits in a general ledger or T-account.
So debit is the answer
Answer:
D. 5.00
Explanation:
The calculation of current ratio is given below :-
Current Ratio = Current Assets ÷ Current Liabilities
where,
Current Asset = cash + account receivable + office supply
= $400 + $1000 + $600
= $2,000
and the Current Liabilities is
= Account payable + salary payable
= $300 + $100
= $400
So, the current ratio is
= $2,000 ÷ $400
= 5 times
Answer: Direct materials quantity variance.
Explanation:
Direct Material quantity variance is the difference between the actual quantity of materials used in production and the standard quantity that was supposed to be used, multiplied by the standard price of the material.
It is a method that checks the company's efficiency is being able to use raw materials to produce goods. If the Actual quantity needed is greater than the Standard quantity, this will be considered an Unfavorable Variance and mean that the company was not efficient in using the materials.
Causes of this can be low quality of materials and inadequate employee training.
He control his profits en his expenditure without interference
