Deposits in transit would be added to the balance per book on a bank reconciliation.
<h3>What is Bank reconciliation?</h3>
Bank reconciliation is the process by which cash balances available in an individual or organization accounting records are matched together the corresponding information of bank statement. The main objective of this statement is distinguish the differences between the book changes and the accounting records as appropriate.
Therefore, Deposits in transit would be added to the balance per book on a bank reconciliation.
Learn more about bank reconciliation below.
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Answer:
International trade and specialization allows us to gain from trade. If a nation uses international specialization and trade to obtain the Laptop it needs to give up 400 units of toys as compared to 500 units if it was to produce it by itself. This reduces the opportunity cost of producing laptops by 100 toys and “thus move outside its production possibilities curve.”
So, the above statement is true.
Answer:
b. Cultural Relativism
Explanation:
Cultural relativism is the ability to understand a culture on its own terms without making judgments using the standards of one’s own culture. This is based on the idea that there is no superior standard of good or evil, so every judgment about right and wrong is a product of society.
Answer:
B) express contract
Explanation:
A contract exist when there is an OFFER and ACCEPTANCE. Marketing Inc made an offer, while N'Ice Creamery made an acceptance. This is an agreement with clear terms of service and payment, their discussion is binding because they have stated their conditions. Payment will be made once service is done.
Answer:
Answer is option C i.e. ensure a cash shortage does not cause an inability to meet current obligations.
Explanation:
Debt covenants can be understood as an agreement between the lenders and the borrower. There are certain terms that are to be considered by the parties of the agreement. One such term is the maintenance of a minimum level of net working capital so that when a company/organization that has borrowed the money runs bankrupt can meet its obligation to pay back the required amount to the lender on time. Therefore, maintenance of a minimum level of net working capital is to ensure that the cash shortage does not cause an inability to meet current obligations.
