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Andrej [43]
3 years ago
15

Identify the statement below that is incorrect. The normal balance of accounts receivable is a debit. The normal balance of divi

dends is a debit. The normal balance of deferred revenues is a credit. The normal balance of an expense account is a credit. The normal balance of the owner's equity account is a credit.
Business
1 answer:
fredd [130]3 years ago
6 0

Answer:

The normal balance of an expense account is a credit

Explanation:

As we know that

The debit sections records assets and expenses side

whereas, the credit sections records revenue, stockholder equity, and the liability side.        

In the given case, the normal balance of account receivable is a debit balance as it is a current asset plus the dividend has also the debit balance

The deferred revenues has credit normal balance plus the normal balance owner equity account has a credit balance

But the normal balance of the expense account has debit balance instead of credit balance

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Think of the market for loanable funds. A policy that induces people to save more or that reduces the governmet's budget deficit
Lisa [10]

Answer:

shifts the supply of loanable funds and reduces interest rates.

Explanation:

The supply and demand curves of money (loanable funds) work in the same way as every other good or service. When the supply of a good or service increases, the supply curve shifts to the right, increasing total quantity supplied and decreasing equilibrium price. When we are talking about loans, the equilibrium price is the interest rate.

8 0
3 years ago
The production possibilities frontier provides an illustration of the principle that a. people respond to incentives. b. trade c
Mekhanik [1.2K]

Answer:

d. people face trade-offs.

Explanation:

The production possibility frontier shows all the combinations of two goods an economy can produce when all its resocurces are fully employed.

At one extreme of the curve, the highest possible amount of one good is produced while zero quantity of the second good is produced . To produce more quantity of the second good, one has to produce less quantity of the first good. This illustrates trade off.

I hope my answer helps you

7 0
3 years ago
Which of the following is not properly classified as property, plant, and equipment? a. Land used in ordinary business operation
Vilka [71]

Answer:

b. A truck held for resale by an automobile dealership

Explanation:

Property plant and equipment are physical or tangible assets used by an organization in the ordinary course of business. They include Land and building used in ordinary business operations, plant and machinery used in production, Land improvements, such as parking lots and fences etc. Such assets are usually depreciated as they are used and in accordance with the organization's policy. However, assets held for sale are not used by the organization in the ordinary course of business rather, the company holds them till such assets are sold.  No depreciation is computed on the assets held for sale. Hence, from the options given, a truck held for resale by an automobile dealership is the only item held for sale and does not qualify for recognition as property plant and equipment. The right answer is b.

7 0
3 years ago
What happens if only income increases
lidiya [134]

Answer:

too crowded. better to be happy alones at homes with computers. unless you got a big home with a lot of rooms and can still be alones

7 0
3 years ago
Midyear on July 31st, the Digby Corporation's balance sheet reported: Total Assets of $210.761 million Total Common Stock of $6.
xeze [42]

Answer:

the  Digby Corporation's total liabilities is $156.92 million

Explanation:

The computation of the total liabilities is given below:

Total Liabilities is

= Total Asset - (Total Common Stock + Retained Earnings)

= $210.761 - ($6.350 + $47.491)

= $210.761 - $6.350 - $47.491

= $156.92 million

Hence, the  Digby Corporation's total liabilities is $156.92 million

The same should be relevant

5 0
3 years ago
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