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2 years ago

Describe the three different times cash can be received from a customer related to earning revenue.

Business

1 answer:

Lunna [17]2 years ago

6 0

Cash can be received by a customer in many ways.

Through credit terms

cheque payments

cash transactions

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Cougar Corporation bought inventory on account on August 23rd. Cougar paid its supplier for the inventory on August 28th. Cougar

Aloiza [94]

Answer:

"B"

Explanation:

Expenses are recognized under the accrual accounting principle.

Before expenses can be recognized under accrual method , it must be matched to a particular revenue.This means that expenses are recognized in the period that the expense was able to generate a revenue. In other words , it in recorded in the period in which it was sold and not the period it was bought.

This is done to improve the quality , accuracy of financial statement to give a true representation of an organization.

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2 years ago

Kristoff Walker operates his own catering service. Summary financial data for February are presented in equation form as follows

wariber [46]

Answer:

- $17,600

Explanation:

The computation of the net decrease in cash during the month is shown below:

= $40,600 - $17,400 - $30,200 - $2,300 - $8,300

= - $17,600

After calculating the items which are presented in the column 1 represent the net decrease in cash for $17,600 amount.

The net decrease in cash represents an outflow of cash. In this, the chances of loss may be higher than the loss.

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2 years ago

Read 2 more answers

Consumption consists of spending by households on goods and services, with the exception of a. purchases of intangible services.

Leona [35]

Answer:

Explanation:

Different schools of economists define consumption differently.

-The process in which goods or services are used to satisfy economics leads.

-Consumption is known as direct or final consumption, when the goods satisfy human wants directly and immediately. The goods have reach their final destination.

-Consumption is also the value of all goods and services bought by households. Includes:

*durable goods. last a long time, e.g. cars, home appliances.

*nondurable goods. last a shot time, e.g. food, clothing.

*services. work done for consumers, e.g. dry cleaning, air travel, legal.

*also, rent is a payment for housing services.

But for GDP, when you bought a house, is considered investment.

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3 years ago

The concept of market conduct includes such things as ____.

lbvjy [14]

The concept of market conduct includes such things like profit , loss and assest growth targets.

Explanation:

Market conduct is used in insurance industry to describe the problems that are related to the sale and distribution of insurance. It deals with the pricing and promotion strategies based on the players in the market related to their aim , objective and desicion making process.

Based on this concept all consumers are seen as potential customers with similar needs. They have proper regulations to check the customers are charged fair and reasonable insurance prices.

They will also ensure whether the consumers have access to beneficial and compliant insurance products.

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2 years ago

When looking for capital, bankers and other lenders will usually feel most comfortable investing in a/an

lilavasa [31]

Existing business with a proven record. When you ask for investments, the lending institution will most definitely ask for your financial track record. They would want to know if you are a good paymaster because they will need the assurance that you can pay them back. Even if you have a really original idea and want to start a new business, there will still be some reservation if you have no track record because the lenders do not know if you are trustworthy or not. Unlike if you already have a proven record that you are a good paymaster, then you at least have proof that you can pay back.

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2 years ago