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lisov135 [29]
3 years ago
14

It is necessary to retain information for two significant reasons: legal obligation and business needs. Data that occupies the c

lass of ________________ is comprised of records that are required to support operations; the data included might be customer and vendor records
Business
1 answer:
baherus [9]3 years ago
6 0

Answer:

The correct answer is letter "B": business.

Explanation:

Business data represents the information of the transactions a company carries out as a result of its operations. Information about suppliers and customers is recorded for control purposes and, mainly, to cover the legal obligation to report the accounting analysis of the firm in the Financial Statements.

Besides, the accounting information of a firm allows managers to compare budget expectations with the current performance of the company to take decisions on what course the entity should follow to reach its objectives.

You might be interested in
Wanda zarky is paid a specific amount of money for work during a set calendar period, regardless of the actual number of hours w
Vesnalui [34]

The correct answer is salary. Salary is being defined as a form of payment by which an employee receives base on the specified job that the employee has the contract on and that it is also based on the wages, hour or the job.

 

6 0
4 years ago
g Credit card applicants have an average credit rating score of 667. Assume the distribution of credit scores is Normal with a s
Marizza181 [45]

Answer:

P(X>700)=P(\frac{X-\mu}{\sigma}>\frac{700-\mu}{\sigma})=P(Z>\frac{700-667}{65})=P(z>0.508)

And we can find this probability using the complement rule and excel or a calculator and we got:

P(z>0.508)=1-P(z

Explanation:

Previous concepts

Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".

The Z-score is "a numerical measurement used in statistics of a value's relationship to the mean (average) of a group of values, measured in terms of standard deviations from the mean".  

Solution to the problem

Let X the random variable that represent the rating score of a population, and for this case we know the distribution for X is given by:

X \sim N(667,65)  

Where \mu=667 and \sigma=65

We are interested on this probability

P(X>700)

And the best way to solve this problem is using the normal standard distribution and the z score given by:

z=\frac{x-\mu}{\sigma}

If we apply this formula to our probability we got this:

P(X>700)=P(\frac{X-\mu}{\sigma}>\frac{700-\mu}{\sigma})=P(Z>\frac{700-667}{65})=P(z>0.508)

And we can find this probability using the complement rule and excel or a calculator and we got:

P(z>0.508)=1-P(z

7 0
3 years ago
For the next nine questions, use the data in the following tables for an economy that produces only two things, bread and comput
ANEK [815]

Answer:

1. Using the chain weighted method, and selecting year 1 as a base, what is real GDP in year 2?

  • $1,150

2. Using the chain weighted method, and selecting year 2 as a base, what is real GDP in year 2?

  • $1,500

Explanation:

When you use the chain weighted method, you must multiply the base year's price times the current quantities to determine real GDP.

                                             Year 1                    Year 2

                                        Quantity Price      Quantity Price

Bread                                   30      $10              40        $15

Computers                          10      $50               15        $60

real GDP in year 2 using year 1 as base = (15 x $50) + (40 x $10) = $750 + $400 = $1,150

real GDP in year 2 using year 2 as base = (15 x $60) + (40 x $15) = $900 + $600 = $1,500

3 0
3 years ago
Eastman Company had a $400 credit balance in Allowance for Doubtful Accounts at December 31, 2012, before the current year's pro
Reptile [31]

Answer: Please see explanation column

Explanation:

Uncollectible amount = Amount x percentage of the uncollectible  amount

$170,000 x 1% ) + (15,000 x 3% ) + ( 12,000 x 6% ) + (5,000 x  12% ) + (9,000 x 30%) = 1700+450+720+600+2700= $6,170

Credit Balance from Eastman =  $400

Adjustment required = $6170 - $400 (credit) = $5,770

Journal to record adjusting entry on December 31, 2012 for recognized bad debts expense.

a) Accounts Titles & Explanation    Debit                 Credit

Bad Debt Expense                  $5, 770  

Allowance for Doubtful Accounts                     $5,770

b Allowance for Doubtful Accounts account=  $400 debit balance before the current year's provision for uncollectible accounts.

Adjustment required = $6170 +$400 (debit) = $6,570

Accounts Titles & Explanation Debit                     Credit

Bad Debt Expense                 $6,570  

Allowance for Doubtful Accounts               $6,570

8 0
4 years ago
Kevan, Jerry, and Dave formed Albee LLC. Jerry and Dave each contributed $245,000 in cash. Kevan contributed the following asset
Afina-wow [57]

Answer:

$55,000

Explanation:

Kevan tax basis is calculated as:

$120,000 + $15,000 + $90,000 + $40,000 - $210,00

Kevin tax basis = $55,000

Using the following illustration

Kevan contributed $120,000 to land

Jerry and Dave both contributed $0

Kevan contributed 15,000 in cash

Jerry and Dave both contributed $245,000 in cash

Kevan Nonrecourse mortgage in excess of the contributed amount to land is $90,000.

Jerry and Dave: $0

This is so because all nonrecourse debt greater than the amount is allocated to Kevan only.

Kevan, Jerry and Dave Remaining Nonrecourse mortgage is $40,000

This is calculated by 33.3% of ($210,000 - $90,000)

Kevan Relief from mortgage debt is $210,000

Jerry and Dave Relief from mortgage debt is $0

4 0
4 years ago
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