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Norma-Jean [14]
1 year ago
9

The budgeted income statement is typically prepared before the budgeted balance sheet. - true or false?.

Business
1 answer:
nlexa [21]1 year ago
4 0

True The budgeted income statement is typically prepared before the budgeted balance sheet.

<h3>What is balance sheet?</h3>

A balance sheet is a summary of an individual's or organization's financial balances, whether it is a sole proprietorship, a business partnership, a corporation, a private limited company, or another organisation such as the government or a not-for-profit institution.

A balance sheet provides a snapshot of your company's financial position at any given time. A balance sheet, along with an income statement and a cash flow statement, can assist business owners in evaluating their company's financial status.

The balance sheet's basic equation is Assets = Liabilities + Equity. Analysts should be aware that certain assets and liabilities may be assessed differently. Some items, for example, are measured at historical cost or a variation thereof, whereas others are measured at fair value.

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The journal entry of a building being purchased will be, a debit in the building account by $60,000; and the cash account and payables account will be credited by $20,000 and $40,000 respectively.

<h3>What is a Journal Entry?</h3>

A method of recording the monetary transactions of a business firm throughout a financial period, in such a way that effects of the same are reflected in the financial statements, is known as recording of journal entries.

Hence, the effect of the journal entry has been given above, and an image is also provided for better understanding of the concept for the readers.

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8 0
2 years ago
What class of security risk represents an opportunity for hackers when they find an identified weakness in which necessary contr
kifflom [539]

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7 0
1 year ago
You are an economist studying the small country of Mardodus. As you look at the data, you see Mardodus has experienced an influx
WINSTONCH [101]

Answer: Natural rate of unemployment will decrease because the productivity growth in the short term has passed up wage growth.

Explanation:

The natural unemployment rate simply means the lowest unemployment rate where the inflation in the economy is stable.

Based on the information given in the question, if the natural unemployment rate for this time frame.is analyzed, the natural rate of unemployment will reduce due to the fact that the productivity growth in the short term has passed up wage growth.

3 0
3 years ago
A compromise can only be reached when ______.
Sergio [31]
The answer is A. When both sides agree. You both have to agree to the same thing or there is no comprimise its just two peoples opinions...

4 0
4 years ago
Read 2 more answers
The amount of goods and services each dollar buys at a given point in time is called:
vazorg [7]
The amount of goods and services each dollar buys at a given point in time is called: Purchasing power.
The term defines the number and quality or value of goods and services that can be purchased with <span>one unit of money. 
</span>Purchasing power loss happen<span> when prices increase, while purchasing power gain happens when prices decrease.</span><span>
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3 years ago
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