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Doss [256]
4 years ago
11

Which of the following is not a role of accounting in business?

Business
1 answer:
Kipish [7]4 years ago
5 0

Answer:

The correct answer is letter "D": To personally guarantee loans of the business.

Explanation:

Accounting is the recording of financial transactions of a business or organization. It also includes the process of summarizing, analyzing and reporting these transactions -given a method- in financial statements. The financial statements that accountants create provide critical information for many key people such as managers, stakeholders, and the corresponding agencies of the government.

However, <em>securing a loan for a company will rely on the credit history of the institution which directly does not involve one of the functions of corporate accounting.</em>

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ValentinkaMS [17]

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3 0
3 years ago
The following information is taken from Reagan Company's December 31 balance sheet: Cash and cash equivalents $ 9,619 Accounts r
abruzzese [7]

Answer:

46.07 days

Explanation:

Calculation for the firm's days' sales uncollected for the year

Using this formula

Days' Sales Uncollected Ratio = Ending Accounts Receivable/Net Sales * 365

Let plug in the formula

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Days' Sales Uncollected Ratio = 46.067 days

Days' Sales Uncollected Ratio = 46.07 days Approximately

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5 0
3 years ago
One of your customers is delinquent on his accounts payable balance. you've mutually agreed to a repayment schedule of $630 per
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Answer:

27.14  months

Explanation:

to calculate how long it will take to pay the loan, we can use an excel spreadsheet and the NPER function:

=NPER(rate,payment,-loan)

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=NPER(1.03%,630,14850) = 27.14  months

5 0
3 years ago
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