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4 years ago

What is the term used to describe amounts ima business owes to suppliers?

Business

1 answer:

Mama L [17]4 years ago

4 0

Answer:

Accounts Payable: Describes all money a business owes to vendors and suppliers for purchases of goods and services made on credit. Often listed in sum on the balance sheet as “current liability"

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For each of the following items before adjustment, indicate the type of adjusting entry (prepaid expense, unearned revenue, accr

igor_vitrenko [27]

Answer:

See explanation

Explanation:

(a) Assets are understated - If we do not adjust accrued revenue, the assets are understated. For example - if we do not add any outstanding rent revenue, the assets will become understated.

(b) Liabilities are overstated - If we do not adjust unearned revenue, the liabilities are overstated. For example - if we do not deduct any expired unearned revenue, the liabilities will become overstated.

(c) Liabilities are understated - If we do not adjust accrued expense, the liabilities are understated. For example - if we do not add any outstanding rent expense, the liabilities will become understated.

(d) Expenses are understated - If we do not adjust accrued expense and prepaid expense, the expenses are understated. For example - if we do not add any outstanding rent expense and expired prepaid expenses, the expenses will become understated.

(e) Assets are overstated - If we do not adjust prepaid expense, the assets are overstated. For example - if we do not deduct any expired prepaid insurance, the assets will become overstated.

(f) Revenue is understated - If we do not adjust accrued revenue and unearned revenue, the revenue is understated. For example - if we do not add any outstanding rent revenue and expired unearned revenue, the revenue will become understated.

3 0

3 years ago

All of the following statements regarding brand loyalty are true except: Select one: a. the marketing costs of reaching loyal cu

evablogger [386]

Answer: the marketing costs of reaching loyal customers are typically very high

Explanation:

Brand loyalty is when a customer buys a product repeatedly from thesame company rather than buying a substitute from another company. Despite the efforts of the competitors to life them away, such customers are devoted to the product.

It should be noted that the marketing costs of reaching loyal customers are typically low. They hardly need any source of encouragement or advertisement to convince them to make their purchases.

6 0

3 years ago

Richland’s real GDP per person is $10,000, and Poorland’s real GDP per person is $5,000. However, Richland’s real GDP per person

dangina [55]

Answer:

It will take approximately 36 Years to Poorland to catch up to Richland.

Explanation:

Given data:

The GDP increase in Poorland per year = 1 %

The GDP increase in Richland per year = 3 %

Calculations:

Step 1: For Richland:

The formula for calculating the per year GDP increase for Richland is:

GDP = 10,000 + (10,000 x (1/100)) ---- (1)

GDP for first Year = 10,100$

GDP for second Year = 10,201 $

Similarly using the formula (1) we calculated the values for 10 and 20 years

GDP for 10th Year = 11046.2$

GDP for 20th Year = 12201.9$

Step 2: For Poorland:

The formula for calculating the per year GDP increase for Poorland is:

GDP = 5,000 + (5,000 x (3/100)) ---- (1)

GDP for first Year = 5,150$

GDP for second Year = 5,304.5 $

Similarly using the formula (1) we calculated the values for 10 and 20 years

GDP for 10th Year = 6719.6$

GDP for 20th Year = 9030.6$

Step 3: When will Poorland catch up to Richland:

By calculating values using the above formulas, we have found that for 38th year, Poorland will catch upto Richland and will have more GDP.

Poorland GDP for 36th Year = 14491.4$

Richland GDP for 36th Year = 14307.7$

6 0

3 years ago

Help fast <br><br><br><br>for 10 pts

ololo11 [35]

Answer:

training

Explanation:

6 0

3 years ago

Read 2 more answers

Which of the following bonds is the most sensitive to changes in market interest rates?A) 5-year, zero couponB) 5-year, 5 percen

antoniya [11.8K]

Answer:

D) 10-year, zero coupon

Explanation:

The zero coupon bonds with longer maturity period are more sensitive to interest rate changes than coupon payments bonds with the same maturity date and zero coupon bonds with shorter maturity periods.

4 0

3 years ago