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Anastasy [175]
3 years ago
13

Closing entries transfer the balances of all temporary accounts (revenues, expenses, and dividends) to the Common Stock account.

True / False.
Business
1 answer:
qaws [65]3 years ago
3 0

Answer:

False

Explanation:

False because the income, expenses accounts are closed to profit and loss account or income summary.

they are closed by transferring the  credit balances in revenue a/c and debit balnace in expenses a/c to clearing account income summary.

The assets and liabilities , common stock, equity account are not closed.

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“Every individual employee in an organization plays a role in controlling work activities.” Do you agree with this statement, or
Scrat [10]

umm...

Explanation:

Yes, Every individual employee plays a role in controlling the quality of goods and services produced by their company, and not just the managers. This is true particularly in organizations where employees have been empowered by management.

7 0
3 years ago
6. You have 45 years left until retirement and want to retire with $4 million. Your salary is paid annually, and you will receiv
allsm [11]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

You have 45 years left until retirement and want to retire with $4 million. Your salary is paid annually, and you will receive $50,000 at the end of the current year. Your salary will increase at 3 percent per year, and you can earn an annual return of 9 percent on the money you invest.

n= 45

FV= 4,000,000

i= 9% + 3%= 12%

We need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= (4,000,000*0.12)/{(1.12^45)-1}= $2,945

5.89% per year.

6 0
3 years ago
chapter 9 technology methodical application of scientific knowledge for practical purposes invention product or process which ca
marissa [1.9K]

Innovation can be described as 'new' in that it makes a significant qualitative.

Qualitative research relies on data obtained by researchers from direct observations, interviews, questionnaires, focus groups, participant observations, environmental records, documents, case studies, and artifacts. The data is usually not numeric.

Qualitative data describe a quality or characteristic. Collected through questionnaires, interviews, or observations, they are often presented in the form of narratives. For example, notes made during a focus group on Cafe Mac food quality, or responses to public surveys.

Learn more about Qualitative here:

brainly.com/question/8064831

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4 0
1 year ago
When it comes to managing a corporation, the corporation relies on its board of directors and officers.
Wewaii [24]

It's true that when it comes to managing a corporation, the corporation relies on its board of directors and officers.

<h3>What defines corporation ?</h3>

An organization called a corporation is one whose shareholders choose a board of directors to manage its operations. The corporation, not the shareholders, is responsible for the operations and financial health of the company.

<h3>What is a corporation in business?</h3>

A corporation, also referred to as a C corp, is a separate legal entity from its owners. Corporations are able to generate revenue, pay taxes, and face legal consequences. The strongest protection against personal liability is provided to owners by corporations, although forming a corporation is more expensive than creating other types of entities.

To know more about corporation visit :

brainly.com/question/28017828

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7 0
1 year ago
During 2019, Pepe Guardio purchases the following property for use in his calendar year-end manufacturing business:
Sladkaya [172]

Answer:

Depreciation Expense for 2019 using form 4562

Basis For depreciation; Recovery Period ; Convention ; Method ; Depreciation deduction

2,000 ; 5 years ; HY ; 200 DB ; 400

40,000 ; 7 years ; HY ; 200 DB ; 6,573

Explanation:

Accelerated method of depreciation is used by businesses for accounting and income tax purposes. The depreciation is calculated in such a way that the depreciation expense is higher in early years and lower in later years. Pepe is also using this method to account for his business assets. The depreciation expense for computer equipment and manufacturing equipment's totals $6,973.

8 0
3 years ago
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