1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Zolol [24]
3 years ago
14

Current assets are economic resources that are expected to be converted to cash or used up by the business within one year or th

e normal operating cycle, whichever is shorter.
A. True
B. False
Business
1 answer:
4vir4ik [10]3 years ago
6 0

Answer:

Statement is false

Explanation:

Current assets are economic resources of the organization that are usually used up within one year to carry out the operations. However, if the operating cycle is more than one year, then the asset that gets used up within that period is considered as current asset. Operating cycle is the time period taken to invest cash, produce goods, sell them and receive money from customers against goods sold. Operating cycle need not be limited to one year.

So, asset that gets used up within operating cycle is termed current asset.

You might be interested in
A Not-for-Profit Organization
yuradex [85]

Answer:

1.The parties involved can ask the government to raise the allocation of funds to  the student community service organization

2. Volunteers will be available to help out in the project

3. About $10000 will be the project cost(The cost of starting and finishing the project to meet the objectives and demands at hand)

Explanation:

Planning of  a large party or an event is called a  project. This is because, it was a specific party for a specific purpose and It was held on a specific date and time(beginning and end).

A project must have an objective . It must have stakeholders. This whose decision will greatly affect the outcome of the project

The following are the assumption made by the stakeholders of the project:

1.The parties involved can ask the government to raise the allocation of funds to  the student community service organization

2. Volunteers will be available to help out in the project

3. About $10000 will be the project cost(The cost of starting and finishing the project to meet the objectives and demands at hand)

The needs identified are:

-Money to support food purchasing.

-Grow the volunteer force.

-Food donations.

-To teamwork and synergy with a common goal.

6 0
3 years ago
When a line cook in a restaurant uses raw meat to cook a hamburger that becomes part of the restaurant's Super Burger Special, t
gulaghasi [49]

Answer:

Transformation process.

Explanation:

When a line cook in a restaurant uses raw meat to cook a hamburger that becomes part of the restaurant's Super Burger Special, the cook is taking part in a transformation process.

A transformation process can be defined as the capabilities possessed by an organization, which are then integrated into technology, internal processes, and management, for the singular purpose of converting inputs into outputs in order to meet the needs or requirements of their customers.

In this scenario, the cook uses raw meat as an input in the creation of an output, which is the restaurant's Super Burger Special.

7 0
3 years ago
Which one of the following would not cause a bank to debit a depositor's account? a.Checks marked NSF b.Wiring of the depositor'
Monica [59]

Answer: Interest earned by the account.

Explanation: When a bank debits an account money is been removed from the account. This can either be as a result of: the account owner withdrawing from the account, a cheque paid to another person, bank service charges.

While when a bank credits an account money is added to the account. It can occur as a result of : money paid into an account, bank interest paid on accounts.

Therefore interest earned on an account is credited to the account holder.

7 0
3 years ago
Which type of adjusting entry is used to record a payment a company has not yet made for a service it received?
givi [52]

Answer:

C. Accrued expense

Explanation:

Because the expense has already been incurred, but not yet paid, it is an accrued expense.

5 0
3 years ago
Which of these statements about cycle inventory is​ BEST? A. Cycle inventory exists to avoid customer service problems. B. Cycle
zavuch27 [327]

Answer:

<em>A. Cycle inventory exists to avoid customer service problems.</em>

<em></em>

Explanation:

Cycle inventory is the part of inventory kept by a supplier, that shows the amount of inventory available to satisfy demand. Cycle inventory allows the supplier to keep track of his available inventory so as to remove the problem of not meeting customers demand, which can led to loss of customers. And also to reduce the problem of over-storage that can lead to additional holding charge.

4 0
3 years ago
Other questions:
  • One of the benefits of career planning as a young adult is
    5·1 answer
  • Ahmad was recently laid off from his job at big bank. when he was employed, he did not enjoy his job; however, now that his job
    15·1 answer
  • Why do cats have such small incisors?
    8·2 answers
  • What the best way to remember to do homework?
    7·2 answers
  • When the share of individual income tax collected by the government from people with higher incomes is smaller than the share of
    8·1 answer
  • Order: 20,000 units heparin IV in 250 mL to infuse at 25 units/kg/hr. Client weighs 184 lb. How many units per hour will the cli
    12·1 answer
  • Graham Company uses the​ percent-of-sales method to estimate uncollectibles. Net credit sales for the current year amount to $ 1
    10·1 answer
  • Oracle, a firm that sells commercial ERP and database products, provides Linux for free, selling high-margin Linux support contr
    6·1 answer
  • In the résumé above, what would cause appearance of the "00000000000"?
    12·2 answers
  • Regulatory policy requires a balance between protecting safety and.
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!