Receipt and payment accounts show only cash and bank transactions in that accounting period whereas the income and expenditure account are on accrual basis.
The receipt and payment account must start with a cash opening balance brought forward from previous period while the income and expenditure account does not start with any balance.
Capital and revenue receipts and payments are included in the receipt and payment account while only the income and expenditures of revenue are included in the income and expenditure account.
The receipt and payment account includes receipts and payments relating to the period immediately before or after whereas the income and expenditure account must include only income and expense items belonging to the period under review.
Receipts are shown on the debit side and payments on the credit side in the receipt and payment account while as in the income and expenditure account, all revenue appears on the credit side and expenditures on the debit side if it is prepared in accounts form.
For more details about the receipt and payment account and income and expenditure account refer here;
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Answer:
$2,250 favorable
Explanation:
The direct material price variance is computed as;
= ( Standard price - Actual price ) × Actual quantity
Given that;
Standard price = $8.75
Actual price = $8
Actual quantity = 3,000 units
Direct material price variance
= ( $8.75 - $8 ) × 3,000
= ( $0.75 ) × 3,000
= $2,250 favorable
In this HR department can best address this concern by application of data to employee development programs to support the to employees advance in their careers.
<h3>What is employee development program?</h3>
An employee development program can be described as kind of a training program that is been given to employee by their employer to help them to improve their skills and abilities.
Therefore, since management of a company wants to begin electronically monitoring the computer work of the employees . then the program can be applied.
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Answer:
A company's net profit tells you how much money the company has left over after subtracting all expenses.
Explanation:
A net profit, is when all of the companies money is spent on the things they need... and then it shows you what is left over. A company's profit is called net income or net profit. Net profit or income, is the total money remaining after accounting all of the cash flows, positive and negative numbers included.
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Answer:
Quantity supplied and Supply schedule
Explanation:
Quantity supplied is the amount or number of the quantity of the commodity or the product that the producers are willing to sell at a specific price and at a particular time.
In short, it is defined as the amount of the goods, the businesses offer at the particular price.
The supply schedule is the schedule or the chart which states the product which the supplier have to produce in order to meet the demands of the customers.
In short, it is the table or the chart which states the quantity being supplied at the different prices in the market.