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1 year ago

Which of the following statements explain(s) how the accounting equation applies to business?( check all the apply)

Business

1 answer:

JulijaS [17]1 year ago

5 0

The statements that explain how the accounting equation applies to business are:

The equation reflects that the total of what a business owns at any point in time will equal the total of what it owes creditors and owners.
The equation applies to all monetary business transactions.
The relation of assets, liabilities and equity is reflected in the equation.
The equation states that Assets = Liabilities +Equity

<h3>How does the accounting equation apply in business?</h3>

The accounting equation is given as:

Assets = Equity + Liability

This shows that everything that a business owns (assets) is only acquired thanks to the amounts that the owners ( equity) and creditors (liability) give.

It also shows how assets, liabilities and equity are related and therefore applies to all the monetary transactions in the business as it shows how the cash is affected when it is spent or received.

Find out more on the accounting equation at brainly.com/question/24401217

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3 years ago

A kilobyte (kb) is equal to ____ bytes, but is usually thought of as approximately 1,000 bytes.

hoa [83]

The answer is 1 KB is equal to 1024 Bytes

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3 years ago

LeGo Financials offer two investment plans. Investment A pays 9 percent interest compounded monthly, whereas Investment B pays 1

12345 [234]

9.38%; 10.25%

Explanation:

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3 years ago

Agile project management involves ____ whereas traditional project management involves _______. Multiple Choice known and stable

Ainat [17]

Answer:

For comprehension purposes, I would write the question again with options attached below:

Agile project management involves ____ whereas traditional project management involves _______. Multiple Choice

a. known and stable scope, unknown requirements

b. high certainty, projects with unstable scope

c. projects with high predictability, project with unknown or unstable requirements

d. iterative and incremental delivery, upfront planning with high predictability

e. high uncertainty, projects with unknown requirements

The correct answer is option d. (iterative and incremental delivery, upfront planning with high predictability)

So, Agile project management involves iterative and incremental delivery whereas traditional project management involves upfront planning with high predictability.

Explanation:

Agile project management involves iterative and incremental delivery as Agile project management allows making changes to the product which then opens ways for iteration. Agile life cycles are composed of several iterations because of changes that might arise due to feedback during the production process of the project.

Traditional project management is highly predictable and it doesn't give room for changes as project cycles and stages are planned ahead. It's a rigid process.

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3 years ago

On January 1, MM Co. borrows $340,000 cash from a bank and in return signs an 8% installment note for five annual payments of $8

Fiesta28 [93]

Answer:

Required 1

January 1

Cash $340,000 (debit)

Note Payable $340,000 (credit)

Required 2

$27,200 goes toward interest expense.

Explanation:

Issuance of the Note :

Assets of Cash are increasing, the Liabilities are also increasing.

Payment at December 31 :

The Annual Payment comprises of Capital Repayment and Interest Expense.

Prepare an amortization schedule using the details of the Note highlighted below to separate the Capital Repayment and Interest Expense Component :

PV = $340,000

PMT = - $85,155

N = 5

i = 8%

P/yr = 1

FV = $0

Note Schedule is attached !

Download pdf

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3 years ago