Answer:
A. that involves double-counting.
Explanation:
Imagine a company that produces furniture. If we would include the wood, the nails, the wood paint, etc., were included in the calculation plus the furniture itself, you would be double-counting the cost of the manufactured furniture. If you consider waste materials, then you would be adding even more costs. That is why you only consider finished goods.
<span>Of the seven commonly used organizational buying criteria, consumer demand is very important. If the consumer wants the product and is sure to purchase the product, organizational financial goals are likely to be met as the product will quickly sell.</span>
Answer and Explanation:
The journal entries are shown below
On Sept 1
Supplies Dr $1,020
To Cash $1,020
(being supplies purchased in cash)
On Sept 5
Dividend Dr $410
To cash $410
(being cash dividend is paid)
On Sept 7
cash Dr 5,500
To Unearned service revenue $5,500
(being cash collection is recorded)
On Sept 16
Cash Dr $770
To Account receivable $770
(being cash collection is recorded)
On Sept 22
Equipment Dr $3,000
To cash $1,100
To Note payable $1,900
(being equipment purchased is recorded)
Answer: Managerial Accounting
Explanation:
Managerial accounting refers to the preparation of reports and analysis from the company's accounting information to enable managers decide the ways to go with a company.
This type of accounting is for internal use and so is not subject to the kind of scrutiny that financial accounting gets from accounting bodies such as IASB and the FASB.
An example would be the Supply Manager may ask for a report to be made showing them the increase in supply costs for the past decade from their preferred supplier to enable them make a decision on if to find a new supplier.
Answer:
B) The entity CUSTOMER with the attribute PURCHASE
Explanation:
The entity is an existing real world object or person, while an attribute is a feature or characteristic of the entity.
In a relational data model (RDBMS), entities are represented as data in an entity set (customer) while the field represents the different attributes or properties of the entity.
