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Andrew [12]
1 year ago
6

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

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Written notice of an Investigative Report must be given within ______ advance notice before the report beings.
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Answer:

3 days.

Explanation:

An Investigative report can be defined as a report prepared by a forensic expert or professional in the unraveling of a crime or issue.

Written notice of an Investigative Report must be given within 3 days advance notice before the report beings.

Basically, an investigative report is required or expected to give an insured person not more than 3 days advance written notice before the report will begin.

3 0
3 years ago
True or False: The LIFO Conformity Rule states that if the LIFO method is used for income tax purposes, it can not be used for f
elena-s [515]

Answer:

FALSE

Explanation:

The LIFO conformity rule requires taxpayers that elect to use LIFO for tax purposes to use <u>no method other than LIFO to ascertain the income, profit, or loss for the purpose of a report or statement to shareholders, partners, or other proprietors, or to beneficiaries, or for credit purposes</u>.

Hence the IRS requires that the same method for income tax purpose be used for financial statement purpose

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3 years ago
The MAIN reason suppliers offer cash discounts is to try to encourage.
goldfiish [28.3K]
The answer is A. Early payment

In Cash discounts, buyers will have the incentive to reduce the amount owed to the seller if they pay their liability faster than the Deadline

For example, the sellers can offer a 2 % discounts if the buyers make a payment within 10 days, while the actual deadline is 30 days
4 0
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What can be learned about ancient greeks from this passage? check all that apply<br><br>​
olga55 [171]

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Explanatin

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