Answer:
d.The post-closing trial balance is the only one to include only real accounts.
Explanation:
Post closing trial balance is prepared after providing for all the adjustments pending in the first raw trial balance.
Thus, it only represents the real accounts, as only real accounts have the balance to be carried forward, all the expenses and incomes are not real accounts and are thus, closed, and no carrying balance.
Whereas, all other trial balances will have the other accounts outstanding as well.
Thus, only statement D is correct in disclosing the difference between various trial balances.
Answer:
A
B
C
D
Explanation:
LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold.
FIFO means first in, first out. It means that it is the first purchased inventory that is the first to be sold
Weighted average cost method calculates the cost of goods sold as the weighted average of cost of inventory
In periods of rising prices, later purchased goods would have a higher price. As a result, LIFO would report a lower net income while companies using FIFO would report the highest gross profit and net income.
Because of the high net income reported under FIFO, tax paid would be the highest too
Answer:
Option 4 Analytics
Explanation:
The reason is that business analytics uses the sophisticated patern of available data of the organization on the basis of the past data to make an assessment of the situation and make an informed decisions that benefits most to the company.
So here the company is using trends which include seasonal trends and forecasting techniques to assess the situation and make informed decision based on the data extracted which best alligns with Business analytics.
Answer:
formatting or editing because that is where you can change how something is placed or appears in the document.
