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Vitek1552 [10]
2 years ago
10

A liability created when a business collects cash from customers in advance of providing services or delivering goods is called?

a(n)
Business
1 answer:
Bumek [7]2 years ago
3 0
<span> <span>The liability created by receiving cash before providing the service or delivering the goods in question is called unearned revenue. In this case, the entity providing the goods/services records this transaction as revenue that has been generated but in real sense, the seller remains with the liability until after the actual delivery of the goods/services. The purpose of this practice can be advantageous to the seller in certain situations such as easing the burden of paying interest on debts.</span></span>
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Information related to Riverbed Co. is presented below.
Scrat [10]

Answer:

April 5

Debit : Merchandise  $36,000

Credit : Accounts Payable - Tamarisk Company $36,000

April 6

Debit : Accounts Payable - Tamarisk Company $920

Credit : Cash $920

April 7

Debit : Equipment $30,500

Credit : Accounts Payable $30,500

April 8

Debit : Accounts Payable - Tamarisk Company $4,200

Credit : Merchandise  $4,200

April 15

Debit : Accounts Payable - Tamarisk Company $30,880

Credit : Discount received $926.40

Credit : Cash $29,954

Explanation:

Working for Journal on April 15

Balance = $36,000 - $920 - $4,200

              = $30,880

Discount = $30,880 x 3%

               = $926.40

Amount Paid =  $30,880 - $926.40

                      = $29,954

7 0
3 years ago
Before introducing the new software, Star Software Inc., conducted benchmark activities to assess how popular the product would
barxatty [35]

Answer: C. Access the current reality

Explanation:Accessing the current reality of a market or product involves conducting certain benchmark activities in other to access or identify the challenges which may hinder the product or market from reaching the intended height. Current reality assessment is a fundamental step in making a product launch as a good reality assessment will pave the way to making success and generating the company's projected revenue from the product. It is an important aspect of the strategic management process as it projects the popularity of the intended product.

3 0
3 years ago
Approximately __________ of trades involving shares issued by firms listed on the New York Stock Exchange actually take place on
lianna [129]

Answer:

The correct answer is letter "B": 75%.

Explanation:

The New York Stock Exchange (<em>NYSE</em>) is the largest, oldest and best-known stock exchange in the world. A stock exchange is a regulated auction market where stocks, bonds, and other securities are bought and sold. The total value of all outstanding shares of the NYSE listed companies is unmatched. Its listings feature some of the world's largest and best-known corporations.

Almost 1,5 billion shares (<em>around 75% of the total market transactions</em>) are traded in the NYSE every day.

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3 years ago
The Net Present Value method of project evaluation is preferred over the Internal Rate of Return method because the Net Present
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A because it’s right idkk o think it’s right I honestly guessed
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3 years ago
Tru or false? the older traditional form of management structure is the horizontal organization
Tamiku [17]
The answer is false.
7 0
3 years ago
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