Groups of related business activities such as the acquisition of merchandise and payment of vendors are called transaction cycles.
A transaction cycle is an interlocking set of business transactions. Most of those transactions may be aggregated into a comparatively small number of transaction cycles associated with the sale of products, payments to suppliers, payments to employees, and payments to lenders.
A transaction cycle is a set of accounting transaction that happens in a very normal sequence as an example a sales transaction is followed by shipping transaction, a billing transaction, and a cash receipts transaction.
Therefore, there are four transaction cycles which are the following:- Financial cycle, expenditure cycle, revenue cycle, conversion cycle.
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Answer:
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Explanation:
Answer:
option (C) $3,000
Explanation:
Data provided:
Policy duration = 4 years
Policy amount = $12,000
Date on which premium is paid = January 1, 2013
Date on which entry is adjusted = December 31, 2015
Now,
The time passed between January 1, 2013 to December 31, 2015 = 3 years
Therefore,
Amount to be recognized as insurance exp. on December 31, 2015
= 
= 
= $9,000
Thus,
The balance in the prepaid insurance account = $12,000 - $9,000 = $3,000
Hence,
The correct answer is option (C) $3,000
Answer:
Correct option is (a)
Explanation:
For any venture to be successful, it starts with a vision or idea. In this case, Greg is confident that he will be able to convince US Car manufacturers to purchase his fuel efficient car even though his friends were doubtful if his product will be accepted by car manufacturers.
He also had a clear vision as his goal was to make US economy energy efficient. Vision is to have a positive outlook regarding future.
It can be inferred that Greg has both vision and confidence
A pre-sweetened breakfast cereal would most likely be in the DECLINE stage of the product life cycle.
At the decline stage of a product like cycle, the number of product sold usually drop significantly, because of this, manufacturers usually look for a mean of modifying their product so that the consumers will continue buying it. For instance, a cereal manufacturer may decide to add sugar to his product so that it will continue to be bought by the consumers.<span />
