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snow_tiger [21]
3 years ago
14

The time frame associated with a balance sheet is:

Business
1 answer:
MAXImum [283]3 years ago
6 0

Answer:

The answer is: A) a point in time in the past

Explanation:

A balance sheet is one the most important financial statements of an organization along with the income statement and statement of cash flows.

It reports an organization´s assets, liabilities and shareholders´ equity at an specific point in time.

The basic formula used in a balance sheet is:

                  Assets          =          Liabilities    +     Shareholders´ Equity

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It is a Brand community
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3 years ago
In which type of career would you expect to spend a great deal of time backing up computer files?
agasfer [191]

Answer:

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4 0
1 year ago
Read 2 more answers
the liability created when supplies are bought on account is called an account payable ,true or false​
tigry1 [53]

Answer:

True.

Explanation:

In Financial accounting, liability can be defined as the amount of money being owed by an individual or organization to another.

Simply stated, liability is a debt being owed and as such it usually has "payable" in its account title on the balance sheet.

Generally, liabilities are recorded on the right side of the balance sheet and it comprises of financial informations such as warranties, bonds, loans, deferred revenues, mortgages, account payable etc.

Current liability in financial accounting can be defined as the short-term financial obligation such as debt (account payable) that is due to be paid in cash within one (fiscal) year or one operating cycle of a company, whichever is longer.

A company's current liability comprises of the following; dividends payable, short-term debts, account payable, notes payable, interest payable, wages payable, deferred revenues, income tax payable, etc.

Basically, companies usually settles their current liabilities with current assets such as account receivables or cash, that are used up within a fiscal year.

Hence, the liability created when supplies are bought on account is called an account payable.

6 0
2 years ago
Explain the importance of knowing dependent and independent demand models to companies.
ArbitrLikvidat [17]

The importance of knowing dependent and independent demand models to companies is that it is a way for one to be able:

  • To understand inventory.
  • Be able to depict the number of units of a specific product that the consumers are said to be willing to by at each price.

<h3>What is independent demand and dependent demand?</h3>

Independent demand is known to be the demand for a given finished product. It can be a machine, a car. etc.

The dependent demand is known to be the demand for a component area of a finished good, such as the wheels on a car.

Note that the Dependent demand is one that is obtained from the demand for a finished product.

Therefore, The importance of knowing dependent and independent demand models to companies is that it is a way for one to be able:

  • To understand inventory.
  • Be able to depict the number of units of a specific product that the consumers are said to be willing to by at each price.

Learn more about demand models from

brainly.com/question/23879110

#SPJ1

8 0
1 year ago
July 1 Sold $21,200 of computers to Company with terms 3/15, n/60. Riverbed uses the gross method to record cash discounts. Rive
Setler79 [48]

Question is incomplete. I will try to answer to the best of my ability.

Answer and Explanation:

The credit terms '3/15, n/60' and '2/10, n/30' mentioned in the question signifies the terms in which riverbed has sold its product to the buyer.

3/15, n/60 means that if the buyer pays with 15 days since the transaction takes place then the buyer would receive 3% on the receivable.

However, if they fail to pay within 15 days then the buyer would have to pay the full amount within 60 days.

Similarly, 2/10, n/30 means 2% discount within 10 days since the transaction took place. Otherwise full payment after 10 day.

4 0
3 years ago
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