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4 years ago

The direct write off is used when:

Business

1 answer:

Thepotemich [5.8K]4 years ago

3 0

Answer:

The correct answer is letter "A": Uncollectible accounts are not anticipated or immaterial.

Explanation:

Direct write-off is a method used to record debts from credit sales. An allowance account is not used with this method but an account receivable directly written-off for the outstanding amount once it is determined to be uncollectible. This method is used for tax-reporting purposes.

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All of the following will cause a decline in a company’s gross profit EXCEPT A : selling products with a lower markup. B : clear

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Answer: Option D

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The low pay to supplier means that the company will have a low cost to produce the product which will result in increase in gross profit.

Hence the correct option is D.

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3 years ago

Suppose the equilibrium price of a pound of potatoes in all U.S. states is initially $1.20. Further, suppose there is an increas

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Answer:

A) The West Virginia potato supply curve will shift rightwards.

Explanation:

When the demand for potato increase its prices will go upwards. All the U.S. states have high demand for potato except West Virginia. The West Virginia will have increased supply because the demand is lower which will cause the price to be lower. The supply curve will shift rightwards because of law of one price.

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3 years ago

What is a fixed cost

nignag [31]

A cost is a charity and a fixed cost basically mean that the cost is fixed

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3 years ago

American General Company experienced the following accounting events during 2014:

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Answer:

1. Operating Activities (OA)

2. Financing Activities (FA)

3. Financing Activities (FA)

4. Investing Activities (IA)

5. Operating Activities (OA)

6. Operating Activities (OA)

7. Investing Activities (IA)

8. Financing Activities (FA)

9. Not applicable (NA)

10. Financing Activities (FA)

Explanation:

Statement of cash flows is one of the three major financial statements. The statement analyses the cash generated and cash expended by an entity in a given period. The statement collates the analysis under three categories

1. Operating Activities

2.Investing Activities

3.Financing Activities

Operating activities comprise of cash generated and expended by the entity on its normal business operation during the period. Examples of this are cash received from customers, cash paid to suppliers, rent paid to landlord, cash expenses paid etc.

Investing activities consist of cash activities involving acquisition and disposal of assets and investment. Examples of such are cash receipt from sales of equipment, cash spent on purchase of investment securities.

Financing activities are cash activities involving the entity and provider of capital, equity owner and debt holder. Example of such activities are cash generated from issuance of bond, cash dividend paid to equity owner.

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4 years ago

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<span>Individuals with variations that make them best suited to their environment will, on average, be more likely to survive and reproduce.

Individuals that understand and can survive within their environment often reproduce because they have outlived the other members. They are strong and equip to run the organization and environment they live in.
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3 years ago