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Norma-Jean [14]
3 years ago
15

Which of the following accounts are closed at the end of the year?A. accounts receivableB. retained earningsC. salaries expenseD

. service revenue
Business
1 answer:
yarga [219]3 years ago
6 0

Answer:

C. salaries expense

D. service revenue

Explanation:

All temporary accounts need to be closed off at the end of the year. Temporary accounts are accounts that both begin and end the period with a $0 balance so that they do not get mixed up with figures from the next period.

Items in the income statement such as revenue and expenses are closed at year end and will form part of the Retained earnings account as they would have been accounted for in the net income.

Salaries expense and service revenue will therefore be closed at the end of the year.

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The charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume that 60,000 shares were origina
ruslelena [56]

Answer:

55,000 shares

Explanation:

Given that

60000 shares were originally given

5000 were subsequently reacquired

Thus. Net number of shares issued

= number of shares originally issued - number subsequently reacquired

= 60000 - 5000

= 55,000

Number of outstanding shares therefore is 55,000.

NOTE that, outstanding shares refer to the number of shares that has been issued, purchase or authorized by investors, that is, the number of shares currently held by all is shareholders.

3 0
3 years ago
Easy 25 points!!! Yes or no! Just add a short explanation!
trapecia [35]
It could or it could not, it depends entirely on what they change in their thinking.

Usually no.
8 0
3 years ago
Which of the following is not typically considered a function of financial intermediaries?
AURORKA [14]

Answer: The correct answer is "B".

"B. Investing in real assets" is<u> NOT</u> typically considered a function of financial intermediaries.

Explanation: A financial intermediary is an institution specialized in mediation between economic units that save or invest their funds, and units that wish to borrow funds.

Financial intermediaries are dedicated to investing in <u>financial assets.</u>

7 0
3 years ago
Top Sound International designs and sells high-end stereo equipment for auto and home use. Engineers notified management in Dece
Angelina_Jolie [31]

Answer:

Yes

Explanation:

Since in the question it is mentioned that the product recall is probable and predicted that the cost to the company is $2.8 million so this represent the contingent liability as it is probable & estimated

So the same should be disclosed and reported

Hence, the answer should be yes

The same is to considered relevant

4 0
3 years ago
individuals differ in risk aversion because of: group of answer choices differences in their insurance. moral hazard. adverse se
Gwar [14]

Individuals differ in risk aversion because of differences in income or wealth.

  • Risk aversion is the propensity of people to choose outcomes with low uncertainty over those with high uncertainty, even when the average outcome of the latter is equal to or higher in monetary worth than the more definite event. This tendency is shown in both economics and finance.
  • Risk aversion is the tendency to avoid danger. A risk-averse investor is one who prioritizes money preservation over the potential for a higher-than-average return. Price volatility and investment risk are the same.
  • If someone would rather take the risk and maybe receive nothing than accept a definite payment (certainty equivalent) of less than $50 (for instance, $40), they are considered to be risk averse. If they have no preference between the wager and a specific $50 payoff, they are risk neutral.

Thus the correct answer is d.

Refer here to learn more about risk aversion: brainly.com/question/8394406

#SPJ4

5 0
1 year ago
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