Why do we need to know about plate tectonics?

U

oksian1 [2.3K]

The descriptions to cases that will possibility be addressed by a Trial Balance are:

can detect the accuracy of the accounting process(possible)

can help check whether the debit side is equal to the credit side(possible)

can help prepare the income statement(possible)

helps serve as a proof of the application of the double-entry system(not possible)

can help check whether a particular transaction has been completely omitted(not possible)

<h3>What is trial balance?</h3>

A trial balance can be regarded as bookkeeping worksheet which contains the ledger that is arranged into debit and credit account column .

Therefore, with trial balance, one can check whether the debit side is equal to the credit side.

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3 0

1 year ago

Which of the following should not be recorded in income and expenditure account?

kirill [66]

Answer:

C. honorarium paid to the secretary

Explanation:

6 0

3 years ago

Which of the following fundamental responsibilities is not correct? a. The controller notifies the business reporting department

seraphim [82]

Answer:

d. Detailed reporting of daily production is sent to the president

Explanation:

Fundamental responsibilities involves process in which the controller notifies the business reporting department of various adjusting entries, which are sent to the financial reporting officer as adjusted trial balance figures.

The treasurer notifies the business reporting department of investing and financing transaction activities.

8 0

3 years ago

A legal arrangement where two or more people share ownership of a business is called a ______. A. Corporation b. Sole proprietor

liubo4ka [24]

The correct statement is that a legal arrangement where two or more people share ownership of a business is called a partnership. So, the correct option is C.

A partnership may be started by two individuals with an intention to share the profits and losses of such business in a predetermined proportion.

<h3>Partnership Firm </h3>

A partnership firm is a form of business organization where at least two individuals put their resources and carry a legal business.

The individuals of a partnership firm are collectively known as partners, where they tend to share the profits and losses proportionately to their capital invested.

There exists vicarious liability among the partners, which means that all the partners are liable for the acts of one or more partner as per the legal contract.

A partnership firm may be terminated by lapse of time, dispute between the partners, dissolution, insolvency, but has a perpetual succession.

Hence, the correct option is C that legal arrangement where two or more people share ownership of a business is called a <u>partnership. </u>

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Learn more about partnership firm here:

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6 0

2 years ago

If a salesperson notices a billing error in an order, he or she should: Group of answer choices let the finance team take a call

bazaltina [42]

Answer:

c. Correct billing problems without being prompted by the customer.

Explanation:

If a salesperson notices a billing error in an order, he or she should <u>correct billing problems without being prompted by the customer.</u> A Salesperson should act there after the notice and fix the billing problems for the customer as it may result in confusion later.

6 0

2 years ago