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Archy [21]
3 years ago
8

For which account does the accounting principle state that we must debit the receiver and credit the giver?

Business
2 answers:
laiz [17]3 years ago
7 0
The answer is Personal account
kati45 [8]3 years ago
6 0

Answer:

The correct answer is letter "A": Personal Account.

Explanation:

Accounting principles are statements that provide instructions on how the money flow and assets should be reported. These transactions should be reported in the entity's accounts using the double accounting method. In that sense, one account is debited and the other is credited with the same amount. The Personal Account rule establishes that the receiver's debit and the donor's credit.

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Vandelay Industries' VP of support wants an automated way to notify the support team when an unresolved case has been open for o
Zina [86]

Answer:

Escalation rules

Explanation:

Escalation rules are provisions in a software that allows it to reroute a case that meets certain criteria such as number of hours it stays open and unresolved.

Escalation rules are used on software Salesforce CRM package to escalate cases that need attention.

In the given instance where the Vandelay Industries' VP of support wants an automated way to notify the support team when an unresolved case has been open for over six hours, escalation rules can be used to alert support managers.

6 0
3 years ago
ABC Insurance retains the first $1 million of each property damage loss and purchases insurance 22) for that part of any propert
Sliva [168]

Answer:

B) excess insurance

Explanation:

Excess insurance is also known as excess waiver insurance and is amount that will be paid in case of an accident that exceeds normal insurance cover. The amount covered by excess insurance is agreed between the beneficiary and the insurance company.

It protects one against excess charges in cases where a car is stolen or damaged.

For example of you hire a car that has standard insurance, and it is involved in an accident. If the damage is above the limit of insurance cover you will have to pay the rental company the excess for the repairs. Excess insurance covers costs that are high, with some covering up to $6,000.

So if ABC purchases insurance for part of property loss that exceeds $1 million, they are purchasing excess insurance to protect themselves from loss.

3 0
3 years ago
If the price of tortilla chips decreases, and as a result, you buy more salsa, then tortilla chips and salsa:
Lilit [14]

There are different types of goods, and the price of a good will determine the purchase, tortilla chips and salsa are complementary goods.

What are complementary goods?

A complementary good are goods that have similar use or are related to another.

These goods can be used together at times, or used separately.

Therefore,   tortilla chips and salsa are complementary goods because salsa can easily replace tortilla in case of high price.

Learn more on complementary goods here,

brainly.com/question/1268536

4 0
2 years ago
The nominal value of anything is its price expressed in​ ________, and the real value of anything is its value expressed in​ ___
Alexandra [31]

Answer:

D. ​today's dollars; purchasing power

The nominal value of anything is it's current price or the dollar amount someone is paying for it. For eg if the price of a kg of rice is $3, its nominal value is also $3. The real value is expressed in terms of purchasing power which means that the amount of goods and services that you can purchase from a particular amount of money today compared to a base year in the past. So for example if the base year is 5 years ago and the price of a kg of rice was $1.5, the real value of $3 would be 2 kgs of rice, where as currently if the price of a kg of rice is $3 then the real value of $3 is 1 kg of rice. As purchasing power decreases the real value of money decreases.

Explanation:

7 0
3 years ago
An ad in a newspaper reads: "AVAILABLE TODAY ONLY. FRIENDLY'S APPLIANCES. CLEARANCE SALE FOR ALL FLOOR ITEMS. 75% OFF RETAIL PRI
kvasek [131]

Answer:

Correct answer is b, there is no breach contract

Explanation:

There is no breach contract happened because what Friendly did is just a mere advertisement published in a news paper. What happened is that, Friendly notify the customers that they will be having a clearance sale for all the floor items that they had. Mere advertisement is not yet in the stage of contract to sell and the advertiser is not bound for any liability in case the product is not available at the time the customer decided to buy the product.

3 0
3 years ago
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