1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Elis [28]
3 years ago
10

A(n) ______ is maintained for each financial statement item, whereas a(n) ______ contains all of the accounts of the company.

Business
1 answer:
Svetllana [295]3 years ago
4 0

Answer:

An <u>account</u> is maintained for each financial statement item, whereas a(n) <u>general ledger</u> contains all of the accounts of the company.

Explanation:

Financial statements refers to a statement that that provides formal records of all financial activities and standing of a company or any entity in a structured and easily understandable manner.

For each item of financial statement, an account is kept with the aim of giving a an accurate record of all business activities that are germane to that specific financial statement item.

The purpose of a general ledger is to show individual transactions and resulting account balance of each account of a company as a single collection.

Therefore, an <u>account</u> is maintained for each financial statement item, whereas a(n) <u>general ledger</u> contains all of the accounts of the company.

You might be interested in
When making an attribution, dan considers how his roommate has behaved in similar situations in the past. dan is using _______ i
Gekata [30.6K]
When making an attribution, Dan considers how this roommate has behaved in similar situations in the past. Dan is using consistency information. 

Information consistency refers to the same thing, being consistent, that even though something may be slightly different the outcome remains the same. In this case, Dan is assuming his roommate will make the same behavior choices as he has previously. 
7 0
3 years ago
Boeing’s strategy to become the largest airplane maker in the world included acquiring competitors such as mcdonnell douglas. Th
8_murik_8 [283]

There are different aspect of management. The development of this strategy falls under the planning function of management.

<h3>What is the planning function of management?</h3>

Planning is simply known to be a function of management that entails putting out objectives and knowing the right course of action to achieving the stated objectives.

Planning often needs managers to be very much aware of environmental conditions that faces their organization and predict future conditions.

Conclusively, principles of management is grouped into the four major functions such as;

  • Planning,
  • Organizing
  • Leading
  • Controlling

Learn more about  planning function from

brainly.com/question/16118348

5 0
3 years ago
Cost of Goods Sold account is debited and Finished Goods Inventory is credited for A) purchase of goods on account. B) the sale
Firlakuza [10]

Answer:

B) the sale of goods to a customer.

Explanation:

When goods are sold to a customer, the cost of goods sold account is debited by the same value that the finished goods inventory is credited.

For example, suppose a company sells $1,000 worth of goods to a customer, and the sales price is $1,200. The customer pays by cash the full value of the goods. The journal entry would be:

Account                                    Debit           Credit

Cash                                         $1,200

Sales Revenue                                             $1,200

Cost of Goods Sold                $1,000

Finished Goods Inventory                           $1,000

7 0
3 years ago
Suppose the reserve requirement for the United States is 20%.
Ronch [10]

When the Federal Reserve wants to increase the money supply, it will purchase bonds from banks.

<h3>What is Federal Reserve?</h3>

It should be noted that the Federal Reserve controls the monetary aspect in an economy.

In this case, when the Federal Reserve wants to increase the money supply, it will purchase bonds from banks.

Also, when the Fed wants to decrease the money supply, the thing that should be done will be to sell bonds.

Learn more about Federal Reserve on:

brainly.com/question/25817380

6 0
2 years ago
the state transferred ownership of property to roger and pauline. which transfer document would the state agency use?
elena55 [62]

The state transferred ownership of property to Roger and Pauline, the transfer document that the state agency will use us a deed of assignment.

<h3>What is a deed of assignment?</h3>

It should be noted that the deed of assignment simply means an instrument that's used to illustrate that a transfer has taken place.

Any property transaction needs a deed of assignment because it serves as the primary record between the seller and the buyer proving that all negotiations, inquiries, and other required due diligence have been made, the purchase price has been paid, and all other prerequisites have been met.

In this case, the state transferred ownership of property to Roger and Pauline, the transfer document that the state agency will use us a deed of assignment.

Learn more about assignment on:

brainly.com/question/13858252

#SPJ1

7 0
2 years ago
Other questions:
  • The JPY/AUD spot exchange rate is 82.42, the JPY interest rate is 0.15%, and the AUD interest rate is 4.95%. If the interest rat
    12·1 answer
  • What does the production possibility frontier show?
    14·2 answers
  • Brushy Mountain Mining Company’s coal reserves are being depleted, so its sales are falling. Also, environmental costs increase
    8·1 answer
  • Given the following information, calculate the total amount of annual operating expenses for this income-producing property: min
    13·1 answer
  • Brown and Peterson studied how well participants can remember groups of three letters (like BRT, QSD) after various delays. They
    6·1 answer
  • What is the return on common stockholdersâ equity based on the following: Beginning Common Stockholdersâ Equity: $10,317,000 End
    6·1 answer
  • A taxpayer, in the 25% bracket before considering the sale, sold for a gain of $10,000 a residential rental building, purchased
    6·1 answer
  • To change gross income, someone would need to
    15·2 answers
  • A company that makes shopping carts for supermarkets and other stores recently purchased some new equipment that reduces the lab
    10·1 answer
  • a. what happens to the number of sandwiches and ice cream cones consumed if the price of ice cream cones rises to $2 a piece?
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!