Double entry, a fundamental concept underlying present-day bookkeeping and accounting, states that every financial transaction has equal and opposite effects in at least two different accounts. It is used to satisfy the accounting equation:
Assets
=
Liabilities
+
Equity
Assets=Liabilities+Equity
With a double entry system, credits are offset by debits in a general ledger or T-account.
So debit is the answer
Answer:
True
Explanation:
Given that a bottleneck is a term often used in business or any operational situation to describe the situation whereby there is overcrowding at a particular point in time of operation.
And to elevate bottleneck means to solve the issue of bottleneck by making it a priority. This can be done in many ways, one of which is to improve the workspace or make arrangements for additional space or machines.
Hence, it is TRUE that A business school with plenty of classroom space that hires adjunct faculty for a semester to meet unusually high student demand for courses is an example of elevating a bottleneck.
Answer:
To make sure they have experience and know what they are doing
Answer:
response
Explanation:
Health insurance protects you and your health. pays hospitals and whatnot. Business insurance protects your business and assets under it.
Answer:
B. accounting profit = economic profit + implicit costs
Explanation:
Implicit cost are the cost that already incurred but is not necessary to report such as opportunity cost. Whereas explicit cost are those expenses which involve the financial transaction and it is being paid.
Accounting profit is calculated by deducting the explicit cost from the revenue as follow.
* Accounting Profit = Revenue - Explicit cost
Economic profit is calculated by deducting both explicit and implicit costs from revenue.
Economic Profit = Revenue - Explicit costs - Implicit cost
So, using Accounting profit formula we conclude that
Economic Profit = (Revenue - Explicit costs) - Implicit cost
Economic Profit = *Accounting profit - Implicit costs
Accounting Profit = Economic profit + implicit cost
