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Andrew [12]
2 years ago
6

Paying an amount on account reduces:_______

Business
1 answer:
hichkok12 [17]2 years 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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Organon Teknina sells inexpensive equipment to detect Escherichia coli, listeria, or salmonella bacteria in food. The company se
Semenov [28]

The options are:

The Montgomery County school system

Cincinnati Children’s Hospital.

Taco Bell

A chain of church-sponsored retirement homes.

American Red Cross emergency shelter kitchen

Answer:

Taco Bell

Explanation:

In the given scenario Organon Teknina sells inexpensive equipment to detect Escherichia coli, listeria, or salmonella bacteria in food. The company serves not-for-profit institutions.

Among the options given only Taco Bell is a for profit organisation, so they are not the primary target of Organon Teknina.

The other options are non profit organisations so they will recieve supply of inexpensive equipment from Organon Teknina.

Taco Bell is a chain of fast food restaurants in Chicago. The parent organisation is Yum brands

7 0
3 years ago
At the end of May, the following adjustment data were assembled.
nirvana33 [79]

Answer: Top line=debits, bottom line=credits

part 4

2019          

May 31  

(Debits) Cost of Merchandise Sold  13,950

       (Credits) Merchandise Inventory      13,950

         

May 31  

Insurance Expense   12,000

      Prepaid Insurance               12,000

     

May 31  (labels correct, dollar amount unknown)

Store Supplies Expense   ??

Store Supplies    ??  

     

May 31  

Depreciation Expense   14,000

Accumulated Depreciation

-Store Equipment             14,000

     

May 31  

Sales Salaries Expense   7,000

Office Salaries Expense   6,600  

Salaries Payable                         13,600

         

May 31  

Sales     60,000

    Customer Refunds Payable   60,000

         

May 31  

Estimated Returns Inventory   35,000  

              Cost of Merchandise Sold      35,000

4 0
3 years ago
Who is most likely to threaten the security of a business?
Alex73 [517]

Answer:

B

Explanation:

Outsiders who were once employees

Because they have the inside information. And if your up to any tricks, they'll know! And you'll basically be at their liberty.

4 0
3 years ago
an increase In long run aggregate supply can be expected to _______ the price level and ______ the natural rate of unemployment.
kramer

Answer:

fall is the answer for both blanks

5 0
3 years ago
On January 1, 20X1, Picture Company acquired 70 percent ownership of Seven Corporation at underlying book value. The fair value
Lady bird [3.3K]

Answer:

The amount of sales will be reported in the 20X1 consolidated income statement is $58,000

Explanation:

The computation of the amount of sales is shown below:

= Value of the entire inventory sold - purchased inventory + sale inventory

= $58,000 - $45,000 + $45,000

= $58,000

The purchased inventory + sale inventory would reflect the intra sales of the company which told that the sales are made within the company.

7 0
4 years ago
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