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siniylev [52]
3 years ago
15

Bernard is a trainee accountant. His manager asked him to record a loss on the sale of machinery in the business’s temporary acc

ount. To which type of account was Bernard’s manager referring?
Business
1 answer:
Agata [3.3K]3 years ago
6 0

Answer:

Gain and loss accounts

Explanation:

Gain and loss accounts are a form of temporary accounts that are utilized to gather combined sales and purchases that has an effect on the profit or loss of business activities over a given period, which is typically in a year. For example, the loss on property sold account.

Hence, in this situation, the correct answer to the question is known to be a GAIN and LOSS ACCOUNT.

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What is money used by a business for a certain venture or initiative
Dennis_Churaev [7]

A business will employ seed capital to fund a specific project or activity. It is the capital raised to start working on a new product or business idea.

<h3>What kind of capital is invested in a business?</h3>

The money a company has on hand to cover both its ongoing expenses and potential future expansion is known as capital. Working capital, debt, equity, and trade capital are the four main types of financial resources.

<h3>What kind of business venture capital is that?</h3>

Venture Capital (VC) is a term used to describe funding given by investors to start-up or small businesses that have a high potential for growth. A venture capital fund is a type of private equity funded by institutional and private investors, including investment banks, insurance providers, and pension funds.

To know more about seed capital visit:-

brainly.com/question/10110060

#SPJ1

7 0
1 year ago
Suppose that the office of management and budget provides the accompanying estimates of federal budget​ receipts, federal budget
spin [16.1K]
We need to <span>provide the accompanying estimates of federal budget​ receipts, federal budget​ spending, and​ gdp, all expressed in billions of dollars</span>.
4 0
3 years ago
PLEASE HELP ME!!!<br> How are mental, physical, and financial health related? Three sentences
cricket20 [7]

Answer:

They are related because all of the heaths are commonly linked to anxiety and depression. So when a person is financially struggling they can have anxiety which affects their mental health which affects there want to be physical which makes their physical health bad. So all of these are linked together so if one is bad then the others are sure to become bad too.

4 0
3 years ago
The debt-GDP ratio: Please choose the correct answer from the following choices, and then select the submit answer button. Answe
kodGreya [7K]

Answer:

rises whenever the debt rises

Explanation:

The Debt to GDP ratio is a financial metric that compares the debt of a country to its GDP It measures the ability of a country to repay its debt using its GDP

Debt is the total money a country owes to its lenders

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year

GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export

Debt to GDP ratio = total debt of country / total GDP of a country

If total debt = $50 million and total GDP = 100 million

Debt GDP ratio = $50 million / $100 million = 0.5

the higher Debt is, the higher the ratio. The lower debt is, the lower the ratio

6 0
3 years ago
Leonard transfers equipment (basis of $40,000 and fair market value of $100,000) for additional stock in Green Corporation. Afte
Crank

Answer: e. None of the above.

Explanation:

Under IFRS, leonard will not recognize this either gain or depreciation as the transfer has taken place. But when Green Corporation sells the equipment then it will have to consider the potential which was generated in respect to the transfer with leonard.

8 0
3 years ago
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