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Anarel [89]
1 year ago
13

Differentiate accounts receivable from notes receivable.

Business
1 answer:
maria [59]1 year ago
7 0

Notes receivable are backed by a promissory note, carry interest, and have periods that can occasionally go beyond a whole business cycle. While notes receivable can be either short-term, long-term, or both depending on the repayment plan, accounts receivable are short-term current assets.

The money that clients owe your business for goods or services for which invoices have been issued is known as accounts receivable. On the balance sheet, current assets are listed as the total amount of all accounts receivable, which includes bills from clients for goods or services provided to them on credit.

Accounts receivable are a debit on a trial balance until the client pays. Once the customer has paid, you will debit your cash account and credit accounts receivable because the funds are now in your bank and are no longer owing to you. On your trial balance, the concluding balance of accounts receivable is typically a debit.

Learn more about accounts receivable here

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Which business information management career/job role enables you to run an independent consultancy?
gtnhenbr [62]

C. is the answer to this question

7 0
3 years ago
Read 2 more answers
Present an example where data mining is crucial to the success of a business. What data mining functions does this business need
Kitty [74]

Answer:

Data mining refers to the ability of an organization to extract relevant information for a large reservoir of data that belong to its users for the purpose of increasing service/product efficiency.

One example of a company that requires data mining for the success of its business is Amazon. Amazon is categorized by many as an online retail giant. Their Customer-Centric approach to doing business is enhanced by their ability to leverage off historical data to reduce the time spent on resolving customer queries and/or complaints.

Generally, there are four basic data mining functions. They are:

  • Prediction Function: This function allows for the owner to spot patterns in behavior and use this as a yardstick to predict for forecast other variables that will enable the increment in the quality of value offered/delivered.
  • Function Description: This functionality highlights attributes of a set of data in the database
  • Classification Function: This is very close to Function Description only that in this case, it helps in the creation of a model that describes the class or concept of data.  
  • Association Function: This functionality highlights the relationship between data  

The above functions cannot be carried out by data query processing or simple statistical analysis because data mining involves the identification of patterns and relationships using algorithms whilst data query refers to the issuance of instructions in search of specific results.

Cheers

7 0
2 years ago
Nov. 5 Purchased 850 units of product at a cost of $10 per unit. Terms of the sale are 3/10, n/60; the invoice is dated November
pickupchik [31]

Answer: Please see explanation column for answer

Explanation: A perpetual inventory system maintains inventory balances ensuring that records are continually made immediately when purchases or sale are made together with any returns which are recorded in inventory accounts.

To record purchase of merchandise

Date         Account                                    Debit       Credit

Nov 5    Merchandise Inventory         $8500

         Accounts payable                                               $8,500

To record return of merchandise purchased

Nov 7      Accounts payable                  $300

       Merchandise Inventory                                          $300

To record payment of inventory

Nov 15    Accounts payable                $8,200                      

              Cash                                                                  $7,954

          Merchandise Inventory                                         $246

Calculation =

Nov 5 - Cost of merchandise purchased =  No of units x unit price = 850 x 10 =$8500

Nov 7 - Cost of merchandise returned =  No of units returned x unt price = 30 x 10 = $300

discount received = Balance from accounts payable  x discount rate = (8,500- 300) x 3%= 8200 x 0.03=  $246

   Cash  =    Accounts payable    - Merchandise Inventory = $8200 - 246 =$7984.

4 0
3 years ago
QUESTIONS
Sliva [168]

Answer: B

Explanation:

you can pass on the right if you are driving on a one way road.

3 0
3 years ago
The benefits of a strategic business plan do not include _____.:
djyliett [7]

Answer:

Early precautionary measures of trouble ahead can not be issued.

Explanation:

Since a strategic strategy maps out a path for the organisation to follow, it will enable it tighten its attention in order to get somewhere. Therefore, strategic preparation will help the organisation create the best priorities and strategies and help others concentrate their energies on achieving them.

8 0
3 years ago
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