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BartSMP [9]
2 years ago
5

A reversing entry is the exact opposite of an adjusting entry made in a previous period. is made when a business disposes of an

asset it previously purchased. is made when a company sustains a loss in one period and reverses the effect with a profit in the next period. reverses entries that were made in error.
Business
1 answer:
Ulleksa [173]2 years ago
7 0

Answer: A reversing entry: <em><u>"is the exact opposite of an adjusting entry made in a previous period.".</u></em>

<em><u /></em>

Explanation: Reversion entries are an end-of-the-year technique that involves the reversal, on the first day of the new accounting period, of those end-of-year adjustment entries that cause expenses or income and therefore will result in payments or cash receipts. Its purpose is to allow company personnel to record routine transactions in a standard manner without referring to previous adjustment entries.

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course blueWells Fargo, one of the largest banks in the United States, uses a robust CRM system to manage its 70 million individ
Misha Larkins [42]

Answer:

See answer and explanation below.

Explanation:

Generally, customer relationship management (CRM) is a technology that companies employ to manage their relationships and interactions with the existing customers and potential ones.

Other information Wells Fargo’s CRM system can tell the company include:

1. It provides information that can support it marketing strategy and sales.

2. It shows the most profitable customer of the bank and suggests technique to employ in order to improve product offering to these set of customers.

3. It identifies and provides information on different customer segment and improve the customer experience.

4 0
3 years ago
On January 1, DogMart Company purchased a two-year liability insurance policy for $32400 cash. The purchase was recorded to Prep
aleksley [76]

Answer: $1,350

Explanation:

The insurance is for 2 years but has to be apportioned monthly on account of the Accrual basis in Accounting where expenses will only be recognized when they are incurred.

The expense to be recorded for the first month will therefore be:

= 32,400 / 24 months

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4 0
2 years ago
How is the dual credit program different from the AP program?
olga55 [171]

AP courses are part of the College Board organization that requires students to take a rigorous test at the end of the course to potentially earn college credit. A dual credit course on the other hand is an official course at Loyola University Chicago.

3 0
3 years ago
Read 2 more answers
Describe a communication situation with all the elements of communication​
Mariana [72]

Explanation:

Simply, we can define communication as “sharing of ideas or feelings with others.” Communication takes places when one person transmits information and understanding to another person. There is a communication when you respond or listen to someone. Movements of lips, the wave of hands or the wink of an eye may convey more meaning than even written or spoken words. The basic elements of communication process include communicator, communicatee, message, channel and feedback.

- Communicator is the sender, speaker, issuer or writer, who intends to express or send out a message.

- Communicatee is the receiver of the message for whom the communication is meant. The communicatee receives the information, order or message.

- Message, which is also known as the subject matter of this process, i.e., the content of the letter, speech, order, information, idea, or suggestion.

- Communication channel or the media through which the sender passes the information and understanding to the receiver. It acts as a connection between the communicator and the communicatee, i.e., the levels of communication or relationships that exist between different individuals or departments of an organization.

- Feedback, which is essential to make communication, a successful one. It is the effect, reply or reaction of the information transmitted to the communicatee.

Firstly, the communicator develops an exact idea about concepts, beliefs or data that he wants to convey. Then he translates the idea into words, symbols or some other form of message which he expects the receiver to understand. The communicator picks out an appropriate medium for transmitting the message. The message is then received by the communicate. The communicate acts upon the message as he has understood it. Finally, the effectualness of communication is assessed through response or feedback. If the communication brings in the desired changes in the actions, it is said to be successful communication.

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