Answer:
A.Earns net income by buying and selling merchandise.
Explanation:
Merchandiser is a organization or individual which supplies and promotes products to the consumers. Merchandisers buy the merchandise from manufacturer and display it on their place to sale it. The Net value of Purchase price and Selling price is their return. So, They earn the net income from buying and selling of product.
Answer:
No, She is not right in doing so.
Explanation:
As provided, she tries to close the books by adding all the false amounts which shall alter the balances temporarily and then after returning from vacation she will correct them, but up till vacation the accounts will not represent the true and fair view.
As per US GAAP the books shall represent true and fair view of all the transactions of the company in its accounting records, not only at the year end but even during the year.
Therefore, this will be false and unethical and will be against the compliance of US GAAP if such practice of wrong recording is done.
Answer:
The correct answer is True.
Explanation:
An incident report is a tool that records any event that could cause injury to people or damage to company assets. It should include almost accidents, damage to property and equipment, health and safety issues, safety violations and misconduct in the workplace.
Incident reports could be used to discover potential risks and hazards in the workplace and to raise awareness about these problems. That is why it is important to add an analysis of the causes and effects of any incident to avoid similar situations in the future.
Answer:
If interest rise, the price of bonds will decrease, therefore if people are expecting an increase in the interest rates, they will start to sell their bonds before their prices lower. This will increase the amount of money they hold and people will not invest in bonds until the interest rates actually increase and the price of bonds decrease.
Answer:
Cash received journal would contain transactions where money was entering into the company. These include: capital contributions, cash sales and loans coming into the company.
The cash payments journal on the other hand, would show transactions where money left the company such as to pay for expenses such as salaries or to procure materials needed by the company.
Cash Receipts Journal
1. A cleaning company received cash from a customer for services provided
2. Owner of a business deposited capital contribution in the business bank account
4. Cash received in the cash register from the day's sales
6. Loan received from the bank
8. Cheque received from a customer in payment of her account.
Cash Payments Journal
3. Cheque cashed to buy office supplies
5. Service materials purchased by electronic funds transfer
7. Salaries paid by Internet banking
