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Masja [62]
3 years ago
13

________ is an adjustment that is an example of a deferral. A : Cash paid or received before expenses are recognized B : Cash re

ceived before revenues are recognized C : Cash paid or received before expenses or revenues are recognized D : Cash paid or received after expenses or revenues are recognized
Business
1 answer:
Vsevolod [243]3 years ago
4 0

Answer:

C : Cash paid or received before expenses or revenues are recognized

Explanation:

When in an accrual accounting, cash is paid in advance for an expense or cash is received before providing services, is called a deferral. It is an adjustment that is required to adjust the early cash receive or payment. In that case, option C is correct because it is an example of deferral. Other options are incorrect.

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6 0
3 years ago
The credit balance in cash short and over at the end of an accounting period is reported as?
AVprozaik [17]

The credit balance in cash short and over at the end of an accounting period is reported as an expense on the income statement.

Income is the consumption and savings opportunity that a business captures within a specific time frame, usually expressed in money. Income is difficult to define conceptually and definitions vary by region.

The definition of income is the amount of money received by an individual, group or business during a specified period. An example income is an annual salary of $70,000.

Income is money received by an individual or business in return for providing work, producing goods or services, or investing capital. While individuals usually earn their income through wages or salaries, businesses generate income from the sale of goods or services that exceed their production costs.

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7 0
1 year ago
​A(n) _____ is a person who organizes and starts a​ corporation, negotiates and enters into contracts in advance of its​ formati
Nutka1998 [239]

Answer: Promoters

Explanation:

 A promoters is the person in an organization who start the corporate and manage the investors for the financial purpose. The promoters has ability to handle and also understand the actual requirement of the customers.  

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They also promote the company or organization by gain maximum project through the investing process.

6 0
3 years ago
What differences and similarities exist between monopolistic competitive firms and perfect competitive firms?
astraxan [27]

Answer:

In perfect competition, the product offered is standardized whereas in monopolistic competition product differentiation is there. In monopolistic competition, every firm offers products at its own price. ... Entry and Exit are comparatively easy in perfect competition than in monopolistic competition.

Explanation:

(hope this helps)

4 0
3 years ago
Knowledge Check 01 The difference between absorption costing net operating income and variable costing net operating income can
fgiga [73]

Answer:

Fixed overhead costs

Variable and fixed cost distinctions

less than absorption costing net operating income

Explanation:

Fixed overhead costs are costs that do not change with change in the volume of production activity. Rent of the production facility is an example of fixed overhead cost.

Variable costs are costs that change with change in the volume of production activity. Tax is an example of variable cost.

between absorption costing net operating income and variable costing net operating income can be explained by the way these two methods account for <u>Fixed overhead costs</u>. all overhead costs fixed overhead costs selling and administrative expenses variable overhead costs Knowledge Check 02 Absorption costing income statements ignore <u>Variable and fixed cost distinctions</u>. direct materials and direct labor costs direct and indirect cost distinctions product and period cost distinctions variable and fixed cost distinctions Knowledge Check 03 When the number of units produced is greater than the number of units sold, variable costing net operating income will be <u>less than absorption costing net operating income</u>. the same as absorption costing net operating income greater than absorption costing net operating income less than absorption costing net operating income

4 0
3 years ago
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