Answer:
The answer is C.
Explanation:
It will not be proper to just choose the balance in the cash ledger or the one in the bank because the balance as per the cash ledger in the book might be different from the balance in the bank statement in the bank.
So to eliminate this differentiation, bank reconciliation needs to be done. After this reconciliation has been carefully done, the adjusted cash balance in the reconciliation will be used.
Answer:
see below
Explanation:
Financial statements are formal records that provide information about the business's financial activities, status, condition, and position.
Limitation of Financial Statements
1. Statements are based on historical data.
Financial statements do not indicate the current worth of a company. The value of assets and liabilities are subject to change, but financial statements record them at cost. The value of assets and liabilities is not altered to reflect the market cost. Therefore, the balance sheet presents misleading reports if a large part is based on historical costs.
2. Statements are subject to personal judgment:
The values of assets, as presented in the balance sheet, are influenced by the opinions of the person preparing them. For example, depreciation and amortization of assets depend on the personal judgment of the accountant.
3. Inflationary effects
Financial statements do not consider the effects of inflation. The reports and the statements' values are not the real values as inflation is known to erode a currency's strength.
4. Statements do not record Intangible assets.
Not recording intangible assets such as intellectual properties underestimate the value of a business.
Answer:
A. She needs to acquire funding for her business.
Explanation:
Took the test
The credit she used is an installment sales credit.
Installments help you manage your liquidity and avoid unnecessary interest and fees. Installments are what you think of as a typical loan. Mortgages, car loans, or personal loans are examples of installment loans. These usually have a fixed payment and a specific end date.
Credit sales are a way for businesses to offer their customers short-term payment deferral options. The typical time frame for credit sales is 90 days or less. Credit sale discounts are often applied when the full amount is paid within a certain number of days.
Learn more about Credit sales here: brainly.com/question/25393740
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