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hoa [83]
3 years ago
6

If the sum of the Ending Balance(s) in the revenue account(s) is greater than the sum of the Ending Balances in the expense acco

unts, then Retained Earnings will increase as a result of the closing entries.a) trueb) false
Business
1 answer:
GenaCL600 [577]3 years ago
7 0

Answer:

The answer is true.

Explanation:

Retained Earnings are profit not distributed to shareholders inform of dividends. Retained earnings are adjusted a record or an entry impacts revenue or expense account.

If the sum of the Ending balance(s) in the revenue account(s) is greater than the sum of the ending balances in the expense accounts, then retained earnings, this means the net inflow is positive and this remaining sum goes into the retained earnings.

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Based on the information given the percent of assets provided by earnings is: 60%.

<h3>Earnings percent of assets:</h3>

Total assets=Cash +Land

Total assets=$500+$3,500

Total assets=$4,000

Earnings percent of assets :

Earnings percent of assets=Retained earnings/Total assets×100

Earnings percent of assets=$2,400 ÷ $4,000×100

Earnings percent of assets=60%

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2 years ago
The price of Good B increases by 4%, causing the quantity demanded of Good A to decrease by 6%. The cross-price elasticity of de
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Answer:

The answer is -1.5 and complementary goods

Explanation:

Cross price elasticity is the percentage decrease in quantity demanded divided percentage increase in price.

= -6/4

= - 1.5.

Because the sign is negative, the goods are complements. Complementary goods are directly related. As in they move in the same direction.

For example, car and fuel are complements. The increase in quantity demanded for car will increase the quantity demanded for fuel. Or if the price of car goes up, all things being equal, the quantity demanded of car will reduce and for fuel too.

4 0
3 years ago
A resource management system in which decisions regarding resource access and use are vested in a community of identifiable memb
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CBNRM refers to a sys- tem in which decisions regarding resource access and use are vested in a community of identifiable members.

<h3>What is CBNRM ?</h3>

Community-based natural resource management (CBNRM) is a people-centered approach to integrating natural resource conservation (water, soil, trees, and local biodiversity) and development to combat poverty, hunger, and disease.

CBNRM promotes conservation through the sustainable use of natural resources, provides opportunities for communities to generate income for rural development, and fosters democracy and good governance in local institutions.

Emerging CBNRM initiatives support the principles of participatory democracy and network and link building among various constituency groups, interdisciplinary groups, levels of government, and economic sectors.

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Explain why the credit industry wants you to believe that you need a credit score
lora16 [44]

Answer:

Because the credit industry gains a profit from it's users. Credit is a tool, and if used wisely can be beneficial for many people who don't have enough cash to pay for things. Having "good" credit score means that it's easier for you to receive a loan.

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