Answer:
(B) adding all of the debits, adding all of the credits, and then subtracting the smaller sum from the larger sum
Explanation:
While calculating the closing balance of any account,
There includes two possibilities that the account might have debit balance or the account might have credit balance. And for computing this:
All the debits shall be accumulated and then their total shall be computed.
Similarly, all the credits shall be accumulated and their total shall be done.
Which ever is more then the account will have that nature of balance, accordingly the smaller shall be deducted from the larger one and the larger one will decide the nature of balance whether debit or credit.
It is ethical to report the wrongdoing of a coworker. Which means the answer is false. Hope this helped!
Answer:
a. The product must be sold
Explanation:
Total revenue and total expenses are recorded in the income statement.
If the total income exceeds than the total expenditure then the company earns net income And if the total income is less than the total expenditure then the company has a net loss.
The product includes direct material cost, direct labor cost ,and the manufacturing overhead cost. If the product cost is not sold then it is shown in the asset side of the balance sheet as an inventory
And, if the product is sold, the same is subtracted from the cost of goods sold and shown in the income statement
Answer:
d. growth rate of real GDP per person.
Explanation:
The level of well being of a country can be found by considering the price-index, i.e The real GDP per person and not nominal GDP per person.
