Answer:
Fiona Sporty
Indication of Journals for Transactions:
a) Purchased inventories on credit (Purchases Journal)
b) Sales of inventory on credit (Sales Journal)
c) Received payment of a customer’s account (Cash Receipts Journal)
d) Payment of monthly rent by cheque (Cash Payments Journal)
e) End of period closing entries (General Journal)
Explanation:
Journals are used to record business transactions as they occur on a daily basis. They are the first records of business transactions in the accounting books. From the journal, transactions are posted to the general ledger. Journals also determine the accounts to be debited and credited respectively. While some of these journals are for specific transactions, e.g. Purchases Journal, the General Journal is mostly used for all transaction-types, but more especially for adjusting and closing entries and for correction of accounting errors.
Answer:
For whom to produce.
Explanation:
This fundamental question tends to answer the sector of the customers the company will produce for. It reflects the customer's buying power and willingness.
- For example, If the customer we are producing has enough money, so we should go for first come first served basis, OR, If the customer lacks money and it hinders the customer to watch a movie so we motivate them to participate in a lottery so are in guise targeting that section as well.
Answer:
a. The change in Accounts Receivable is added to net income; the change in Inventory is added to net income.
Explanation:
Operating activities: It includes those transactions which affect the working capital . The increase in current assets and a decrease in current liabilities would be deducted whereas the decrease in current assets and an increase in current liabilities would be added to the net income
These changes in working capital would be adjusted. Moreover, the depreciation expense is added to the net income
Answer: d
Explanation:
All of the answers are correct.
Money is defined as a legal tender or something which is generally accepted as a means of payment for goods and services . This brings us to the characteristics of money which includes :
durability, portability, divisibility, uniformity, limited supply, and acceptability. All of these were stated in the options given in the question above hence all the answers are correct.
Answer:
The resulting definition identifies five attributes that feature in the emergence of novel technologies. These are: (i) radical novelty, (ii) relatively fast growth, (iii) coherence, (iv) prominent impact, and (v) uncertainty and ambiguity.
Explanation: