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2 years ago

Identify the importance of accounting by select statement(s) that is (are) correct below

Business

1 answer:

anygoal [31]2 years ago

8 0

Answer:

A,B,C are correct

Explanation:

Accounting involves collection and reporting of financial information of a firm. This includes information on financial position, profitability, , and cash flows of the business. This helps to make decisions on how to invest in the business, manage the business, or lend money to it and tracks business income and expenses. Among the choices, these three are correct;

accounting information helps users make business and financial decisions .
Accounting is a system that identifies, records, and communicates financial informationRevenues – Expenses = Net Income
Accounting information is used throughout the year (NOT only at the end of a year when tax returns and financial statements are prepared) by businesses and individuals to help make financial decisions

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On April 12, Hong Company agrees to accept a 60-day, 10%, $5,900 note from Indigo Company to extend the due date on an overdue a

frutty [35]

Answer and Explanation:

The Journal entry is here below:-

Accounts Payable Dr, $5,900

To Notes payable $5900

(Being the note payable is recorded)

we are debited the accounts payable as it decreased the liabilities and we credited the notes payable as it increased the liabilities in order to do the correct journalizing and posting

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3 years ago

The name of a key is based on the name of the corresponding .

Nata [24]

Vas happenin!!

Scale is for to find your note or key

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I would go with scale

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2 years ago

Collin was hired to work on data analytics, but once he started, the job quickly changed to project management. His supervisor n

allochka39001 [22]

Answer:

A) Person

Explanation:

Collin's supervisor will have to determine his individual needs and readiness for training. This process is called person analysis.

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2 years ago

A company uses return on investment (ROI) to measure the performance of its business units. The company manufactures and distrib

valina [46]

Answer: Decrease

Explanation:

What makes return on investment fantastic is when production and sales is on a steady increase, as production increases and sales follow there after, there would be an increase in return on investment because the increase in sales would make room for expansion giving the business more profit, but in the scenario where raw materials are not promising, there would be a decrease in production overtime and which would also lead to a decrease in return on investment.

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2 years ago

giannis corporation purchases debt investments as trading securities at a cost of $150,000 on december 1. this is its first and

trasher [3.6K]

In a condition given above where the Giannis Corporation sells a proportion of its trading securities, costing $9,000, for an amount of $10,000, the journal entry of the transaction would include a gain of $1,000. Therefore, the option C holds true.

<h3>What is the significance of gains?</h3>

The gains of a business organization can be referred to or considered as the surpluses earned by a company from the extraordinary and indirect operations, which are unrelated to its normal business activities. Any such gains are recorded under ''Other Revenues'' Accounts of the firm.

Therefore, the option C holds true and states regarding the significance of gains.

Learn more about gains here:

brainly.com/question/23542346

#SPJ4

The question seems to be incomplete. It has been added below.

Giannis corporation purchases debt investments as trading securities at a cost of $150,000 on December 1. This is its first and only purchase of such securities. On January 5, Giannis corporation decides to sell a portion of its trading securities (costing $9,000) for $10,000 cash. The journal entry to record this sale would include a:

A. Loss of $10,000

B. Gain of $10,000

C. Gain of $1,000

D. Gain of $9,000

3 0

1 year ago