Answer:
The answer is B.
Explanation:
Some business transactions are so huge or large to the extent that there might be omission or error in recording transactions when they occur.
Adjusting entries are done to update entries for previously unrecorded expenses or revenues. They are usually done at the end of the months.
Since accrual methods are the most preferred, they are done to make Financial statement achieve the objective of 'completeness'
If the $5,000 put in an interest-bearing account for replacement is included in the estimation of the net operating income, it is typically referred to as a Depreciation Reserve.
<h3>What is depreciation?</h3>
Depreciation refers to an accounting method that allocates the cost of a tangible or physical asset over its useful life.
While the purpose of depreciation is to spread the cost of an asset over the financial periods in which the asset is put to use, investing an amount equivalent to the depreciation amount in a special account provides the cash needed for replacement.
Thus, if the $5,000 put in an interest-bearing account for replacement is included in the estimation of the net operating income, it is typically referred to as a Depreciation Reserve.
Learn more about Depreciation Reserve at brainly.com/question/22984056
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Answer:
Accounts Payable 8900 Inventory 178 Cash 8722
Explanation:
The journal entry is shown below:
Accounts payable $8,900
To inventory $178 ($8,900 × 2%)
To Cash $8,722
(Being the payment is recorded)
Here the account payable is debited as it decreased the liabilities and the inventory and cash is credited as it also decreased the assets
Therefore the last option is correct
Groupthink is <span>c. modification of the opinions of members of a group to align with what they believe is the group consensus
When a social group openly held a certain principles or perspective, their members tend to modificate their principles or perspective to align with the group's in order to avoid being considered as an outcast within the group.</span>