All categories

1 year ago

Paying an amount on account reduces:_______

Business

1 answer:

hichkok12 [17]1 year ago

3 0

Option (d) the amount owed on a liability is correct.

Paying an amount on account reduces the amount owed on a liability.

<h3>What is liability?</h3>

A liability is an obligation that a person or business has, typically financial in nature. Over time, liabilities are resolved by the transmission of economic advantages like cash, products, or services.
There are various ways to define a liability's duration. The average duration (or mean term) of the liability is what is typically meant by the term "duration of liability" in actuarial valuation. In other terms, it refers to the typical rate of a liability's repayment.
Liabilities can be used by businesses to increase liquidity if they are having cash flow issues. Most small and medium-sized enterprises lack the financial resources necessary to grow.

Learn more about liability here:

brainly.com/question/15006644

#SPJ4

You might be interested in

At the end of April, Cavy Company had completed Job 766 and 765. According to the individual job cost sheets the information is

IceJOKER [234]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Job 765:

Direct material= $5,670

Direct labor= $3,500

Machine Hours= 27

Job 766:

Direct material= $8,900

Direct labor= $4,775

Machine Hours= 44

Job 765 produced 152 units, and Job 766 consisted of 250 units.

Assuming that the predetermined overhead rate is applied by using machine hours at a rate of $200 per hour.

Costs sheet:

Direct material= 5,670

Direct labor= 3,500

Allocated overhead= 200*27= 5,400

Total cost= 14,570

Unitary cost= 14,570/152= $95.85

Direct material= 8,900

Direct labor= 4,775

Allocated overhead= 200*44= 8,800

Total cost= 22,475

Unitary cost= 22,475/250= $89.9

6 0

3 years ago

Beauty Island Corporation began operations on April 1 by issuing 60,000 shares of $5 par value common stock for cash at $13 per

Eddi Din [679]

Norovirus is a very contagious virus that causes vomiting and diarrhea. People of all ages can get infected and sick with norovirus. Norovirus spreads easily! People with norovirus illness can shed billions of norovirus particles. And only a few virus particles can make other people sick.

6 0

3 years ago

Quantity demanded price quantity supplied 45 $10 77 50 8 73 56 6 68 61 4 61 67 2 57 refer to the data. suppose quantity demanded

saul85 [17]

a. When the demand increases by 12 units, the equilibrium price rises to $6.2093 and the equilibrium quantity rises to 67.7442 units.

b. The price elasticity of supply (PES) at equilibrium is 0.20. Since the price elasticity is less than 1, we conclude that supply is inelastic.

From the given data, we can see that the equilibrium price is $4 and the equilibrium quantity is 68 units.

If the demand increases by 12 units at each point of price decline, the demand equation will be :

$Qd = 105 - 6P$

and the supply equation will be:

$Qs = 51.6 + 2.6P$

Since Quantity demanded and supplied are equal at equilibrium, we can equate the demand and supply equations and solve for price (P). Equating the two equations above, we get,

$105-6P = 51.6 +2.6P$