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Masja [62]
3 years ago
6

When a product or service is delivered for which a customer advance has been previously received, the appropriate journal entry

includes:A debit to a revenue and a credit to an asset account.A debit to an asset and a credit to a revenue account.A debit to a liability and a credit to a revenue account.A debit to a revenue and a credit to a liability account.
Business
1 answer:
tester [92]3 years ago
3 0

Answer:

Explanation:

According to my research on different financial terminology, I can say that based on the information provided within the question the appropriate journal entry would include a debit to a liability and a credit to a revenue account. This must be included otherwise the journal entry will state the sale of the product or service as being made twice, which will cause errors in the financial statements.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

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Proposals to increase the U.S. minimum wage to $15 an hour are often met with vehement objections that fast food workers should
Harman [31]

Answer:

Equity

Explanation:

Based on the information provided within the question it seems that the process theory that is most consistent with this is Equity. This basically emphasizes that quality of being fair and impartial. Which seems to be the reason that the proposal keeps getting denied, since people believe that it is not fair that fast food workers can make the same as a trained medical technician.

4 0
3 years ago
True or False: If Antonio's Fire Engines were a competitive firm instead and $105,000 were the market price for an engine, decre
anastassius [24]

Answer:

False

Explanation:

The market demand curve in perfect competition slopes downward.

Price is determined by the intersection of market demand and supply; under perfect competition, the individual firms don't have any influence on the market price.

Individual firms become price takers when the market price is determined by market supply and demand forces. Individual firms are forced to charge the equilibrium price of the market or the consumers would purchase the product from the many other firms in the market who are charging a lower price. The demand curve for an individual firm is, therefore, the same as the equilibrium price in the market

All individual firms are price takers in a perfectly competitive market. The price is determined by the intersection of market supply and demand curves.

The demand curve for an individual firm is not the same as the market demand curve. The market demand curve slopes downward, whereas the firm's demand curve is a horizontal line.

The firm's horizontal demand curve indicates a price elasticity of demand that is perfectly elastic

The horizontal demand curve of an individual firm indicates that the elasticity of demand for the good is perfectly elastic. This means that if any individual firm charged a price somewhat above market price, it would not sell any products.

Offering a firm's product at a lower price than the competitors is a strategy usually used to enhance market share. In a perfectly competitive market, firms cannot reduce their product price without experiencing a negative profit. Thus, assuming that each firm is a profit-maximizer, it will sell its output at the market price.

5 0
3 years ago
Managers are trying to decide on which variables to use in segmenting and selecting a target audience for marketing communicatio
katovenus [111]

Answer:

c. Senior citizens (65 years and older) - psychographic

Explanation:

This is the sentence that is not correct. Demographic information usually focuses on the external factors of a person. These include age, ethnicity, gender, or location. On the other hand, psychographic information tends to focus on more personal and unique characteristics, such as a person's motivations, beliefs or values. Both of these approaches are useful when approaching the process of segmenting.

3 0
3 years ago
Broker Needa leaves for vacation. In his absence, associate Wanna will be handling the escrow accounts. If Wanna errors with the
ANEK [815]

Correct/Complete Question:

Broker Needa leaves for vacation. In his absence, associate Wanna will be handling the escrow accounts. If Wanna errors with the accounting procedures:

A. Broker Needa's license will be revoked

B. Broker Needa's vacation may be permanent as he is ultimately responsible

C. The Commission will excuse Needa and Wanna; everyone needs a vacation

D. Broker Wanna's solely responsible for her actions

Answer:

B. Broker Needa's vacation may be permanent as he is ultimately responsible

Explanation:

Since Broker Needa is the employer of Wanna, he is ultimately responsible for the errors as the assistant works under his license. Brokers are always responsible for agents under their license.

I hope this helps.

4 0
3 years ago
A U.S. firm holds an asset in Great Britain and faces the following scenario: State 1 State 2 State 3 Probability 25% 50% 25% Sp
Korvikt [17]

Answer:

The answer is letter B.

Explanation:

The mean is 2.03 =($2.5+ $2 + $1.6)/ 3 ; [0.25(2.5-2.03)²] + [0.5(2-2.03)²] + [0.25(1.6- 2.03)²] = 0.055225+0.00045 + 0.046225= 0.1019

Letter B = 010

7 0
3 years ago
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