A rigorous framework for understanding the detailed operations of a business is known as:______

Consider the following accounting terms and definitions and match each term to the definition: Accounting a. an economic resourc

spayn [35]

<h2>Answer: </h2>

Accounting:

The basic tool of accounting, stated as asset=liabilities + equity (e)

Asset:

An economic resource that is expected to be of benefit in the future (a)

Balance sheet:

Reports on an entity’s assets, liabilities, and stockholders’ equity as of a specific date (I)

Expense:

Decreases in equity that occur in the course of selling goods/services (f)

Income statement:

Reports on an entity’s revenues, expenses, and net income or loss for the period (j)

Liability:

Debts that are owed to creditors (b)

Net income:

Excess of total revenues over total expense (d)

Net loss:

Excess of total expense over total revenues (c)

Revenue:

Increase in equity that occur in the course of selling goods/services (g)

Statement of cash flow:

Reports on a business’s cash receipts and cash payments during a period (h)

Statement of retrained earning:

Reports how the company’s retained earnings balance changes from the beginning to the end of the period (k)

8 0

3 years ago

Read 2 more answers

Explain one reason why it might be an advantage for a business to set up on a busy high street.

Akimi4 [234]

Answer:

High traffic

Explanation:

Higher traffic means more visibility, more visibility means more customers.

7 0

3 years ago

What statement about pawn shops is correct?

Gnom [1K]

The correct answer for the question that is being presented above is this one: "B. A pawn shop has lower interest rates than banks." The statement about a pawn shop that is correct is this one: B. A pawn shop has lower interest rates than banks.

6 0

3 years ago

Entry into a market by new firms will increase the:_______

Oksi-84 [34.3K]

Answer:

The right approach is Option a (supply of the good).

Explanation:

Supply would increase substantially of some more production. Increasing the income of established businesses wouldn’t rise, as there has been increasing competitiveness.
This similar value of the product is likely to decline due to further fulfillment as well as the same requirement. Marginal costs would never be compromised.

Anyone else alternatives possible does not apply to the situation throughout the question. That's the right thing above.

8 0

3 years ago

ynwood, Inc. produces two different products (Product A and Product X) using two different activities: Machining, which uses mac

Harrizon [31]

Answer:

$270,000

Explanation:

Calculation for the amount of Machining cost assigned to Product A

Using this formula

Machine cost=Machine hours*Activity rate

Let plug in the formula

Machine cost=1,800*$150

Machine cost =$270,000

Therefore the amount of Machining cost assigned to Product A will be $270,000

5 0

3 years ago

A rigorous framework for understanding the detailed operations of a business is known as:_______