Answer:
1. Which amount related to this purchase should be recorded in the accounting records?
According to the historical cost principle, assets must be recorded at their original purchase price, only accumulated depreciation can adjust their value.
2. The resources owned by a business are its _____.
Assets are all the resources a business uses to carry out their normal business activities and operations.
3. The rights and claims of creditors on a company's assets are represented by _____.
Liabilities represent all the debts that a company has.
4. Which element of the accounting equation represents the rights of owners?
Equity refers to the part of a company owned by its stockholders or owners. A company can finance itself through all equity, or it can have a mixed financing structure with equity and debt (liabilities). The investment made by the owners of a company is represented by the equity part of the balance sheet.
Answer:
Access management
Explanation:
The "access management" component deals with the management and control of the ways entities are granted access to resources.
Access management regulates the ways and methods entities are granted access to resources. It determines which user is able to access the resources.
Answer:
When two or more people own community property like a home, either as joint tenants or tenants in common, each individual owns a share (or interest) of the entire property
Explanation:
SIMILARITY
When two or more people own community property like a home, either as joint tenants or tenants in common, each individual owns a share (or interest) of the entire property. This means that specific areas of the property are not owned by one individual, but rather shared as a whole.
DIFFERENCE
1. Ownership Interest : Tenants in common may be created at different times; so an individual may <u>obtain an interest in the property years after the other individuals</u> have entered into a tenancy in common ownership BUT Joint tenants, on the other hand, must obtain<u> equal shares of the property with the same deed at the same time.</u>
2. Right of Survivorship : <u>One of the main differences between the two types of shared ownership is that Joint tenants have right of survivorship and tenants in common do not</u>.
One of the main differences between the two types of shared ownership is what happens to the property when one of the owners dies.
In Joint Tenants the interest of a deceased owner automatically gets transferred to the remaining surviving owners but not the case in tenants in common.
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Answer:
Equity REIT's
Explanation:
In this scenario, it can be said that the best recommendation would be Equity REIT's. These are Real Estate Investment Trusts. REIT's tend to pay a higher dividend yield than most other types of stocks since they have been structured to generate net rental income. While maintaining the risk level moderate due to the underlying diversification of the trust itself. Therefore since the yield is higher and the risk level moderate this is the best next investment for the teacher to get into.
Answer:
correct option is b. $92,400
Explanation:
given data
prepaid insurance = $48,400
paid insurance = $86,000
prepaid insurance balance = $42,000
solution
we get here Insurance expense for year that is express as
Insurance expense = prepaid insurance + paid insurance - Prepaid insurance balance .......................1
put here value and we will get here Insurance expense
Insurance expense = $48,400 + $86,000 - $42,000
Insurance expense = $92,400
so here correct option is b. $92,400
