Answer:
Been paid for but not yet recorded as expenses
Explanation:
Prepaid expenses have been paid for but not yet recorded as expenses.
They are future expenses paid for in advance or costs that have been incurred without the benefits being enjoyed by the company.
A good example of prepaid expenses id Rent paid in advance at the beginning of the year. Such rent is a cost incurred in advance as the rent period has not been enjoyed yet.
The entries for such prepaid expenses is to debit 'prepaid expenses' like an asset and credit Bank/Cash. The expense account is debited after the benefits have accrued, with the corresponding Credit going to the Prepaid expenses account.
Answer:
D) $48
Explanation:
The minimum transfer price for the Repair division will be the variable cost which is standard for the same type of work. In the given scenario the price is $80 which is the maximum transfer price while $48 will be the minimum transfer price for Repair division.
<span>An economic system is a system of production, resource allocation, and distribution of goods and services within a society or a given geographic area.</span>
Answer:
C
Explanation:
A computerized accounting system is a software program that is stored on a company´s computer, network server, or remotely accessed via the internet and it can be a great benefit for a business. It can help streamline ccounting steps and help minimize errors.
Labor saving is the main aim of introduction of computers in accounting. It refers to annual savings in labor cost or increase in the volume of work handled by the existing staff.
Savings in time in another adg¿vantage. Time saved by using computers may be used for other jobs.
D. Both allow you to make a purchase in a store or online
I don’t know if I’m right. But yeah