Answer:
A) true
Explanation:
Compound interest can be regarded as
adding of interest gotten to the principal sum of a deposit or the principal sum of a loan. It's one that is gotten after reinvesting of ones interest instead of paying it out, as a result of this the interest that comes in
next period will be earned on the principal sum along with those interests accumulated before. It should be noted the process of earning compound interest allows a depositor or investor to earn interest on any interest earned in prior periods.
Answer:
Hammer would prevail against Kay based on:_______.
A. Unilateral contract.
Explanation:
A unilateral contract is a contract created by an offer that can only be accepted by performance. To form the contract, the party making the offer (called the “offeror”) makes a promise in exchange for the act of performance by the other party.
in relation to the case in the contract, Hammer had carried out the duties expected of him thus making the contract valid under a unilateral contract.
since in a unilateral contract, the offer can only be accepted when the other party completely performs the requested action.
Hence Hammer would prevail against Kay based on Unilateral contract.
In case collected cash from a customer is for services that will be performed in the next accounting period the cash flow from operating activities will increase.
The cash flow from operating activities will increase cash flow in the period of receipt itself as it will result in an increase in the cash balance of the organization In case collected cash from a customer is for services that will be performed in the next accounting period.
If the balance of an asset will increase, cash float from operations will be lower. If the stability of an asset decreases, cash flow from operations will boom. If the balance of liability will increase, cash flows with the flow from operations will grow. If the balance of a liability decreases, cash flows with the flow from operations will decrease.
An accounting period, in bookkeeping, is the length with reference to which control accounts and economic statements are organized. In management accounting, the accounting length varies extensively and is decided with the aid of management. monthly accounting durations are common.
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Answer:
The correct answer to the following question will be Option 3 (General ledger).
Explanation:
- General Ledger is the full accounting of all the financial activities of the company across its lifespan. It contains all the documents which are preparing the reports of finance, including income, assets, investments, income, and expenditures.
- It's an official paper that offers a comprehensive overview of the business transactions of the company.
- An invoice, or general ledger key, is a number that is used to document business transactions in the ledger.
Therefore, Option 3 is the right answer.
Answer:
Jan .7 Dr Vacation Benefits Expense $ 160
Cr To Vacation Benefits Payable $160
Explanation:
Journal entry for Mayer
Date Account Name Debit Credit
Jan .7
Dr Vacation Benefits Expense $ 160
Cr To Vacation Benefits Payable $160
( to record vacation pay expense.)