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Ket [755]
3 years ago
14

Expenses are recognized Multiple Choice when a petty cash account is established. when an employee is reimbursed for expenses in

curred on behalf of the business. when cash is collected from a customer. when the petty cash fund is replenished.
Business
2 answers:
saveliy_v [14]3 years ago
6 0

Answer: when the petty cash fund is replenished.

Explanation: it is convenient for every business to have small amounts of cash available for payment of items—expenses that are too small to merit a check. As a result businesses establish a petty cash fund to permit these cash disbursements. An advantage of the petty cash fund is that at the time of payments, no journal entry is required which avoids the need for making many entries for small amounts. As such, expenses are recognized only when the fund is reimbursed or replenished (usually at the end of the accounting period) when the business makes an entry in the journal.

AleksAgata [21]3 years ago
5 0

Answer: When the petty cash fund is replenished.

Explanation: Petty cash is a small or limited amount of money usually reserved for to handle and pay for certain expenditures that are too small to require the use or issuance of cheques.

As expenses are made from the petty cash,the expended amount are replenished periodically in order to ensure that the daily required sum needed to run or manage the needs of the Organisation is met.

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What are purchased items or extracted materials that will be transformed into components or products called?
Amanda [17]

<u>Answer:</u>

<em>Purchased items or extracted materials that will be transformed into components or products are called (</em><u><em>A) Raw materials inventory </em></u>

<u>Explanation:</u>

Raw materials inventory is the complete expense of all segment parts at present in stock, which is not in use, therefore, a continuous process or completed stock creation. There are two subcategories of crude materials, which are direct materials. These are materials fused into the last item.

Raw materials may at times be announced out of date, perhaps because they are never again utilized in organization items, or because they have debased while away, thus can never still be used

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3 years ago
Public opinion suggests that overall, americans' commitment to the country and its core institutions is
ivanzaharov [21]
<span>Public opinion suggests that overall, Americans' commitment to the country and its core institutions is strong. Although the United States is composed of 50 states, it remains to be united in its cause. Until now, it is considered to be one of the most powerful countries in the world. This has been the case due to the Americans' strong sense of patriarchy.  </span>
3 0
2 years ago
Sub-prime loan company is thinking of opening a new office, and the key data are shown below.
Nookie1986 [14]
To complete the above question, please see below:

Sub-Prime Loan Company is thinking of opening a new office, and the key data are shown below. The company owns the building that would be used, and it could sell it for $100,000 after taxes if it decides not to open the new office. The equipment for the project would be depreciated by the straight-line method over the project's 3-year life, after which it would be worth nothing and thus it would have a zero salvage value. No change in net operating working capital would be required, and revenues and other operating costs would be constant over the project's 3-year life. What is the project's NPV? (Hint: Cash flows are constant in Years 1-3.) 

<span>WACC 10.0% </span>
<span>Opportunity cost $100,000 </span>
<span>Net equipment cost (depreciable basis) $65,000 </span>
<span>Straight-line depreciation rate for equipment 33.333% </span>
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<span>Annual operating costs (excl. depreciation) $25,000 </span>
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</span>
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5 0
3 years ago
1. The interest rate that the Federal Reserve Bank (the Fed) charges member banks for loans is known as the____________ .
horsena [70]

Answer:

1. Discount rate.

2. Increase.

Explanation:

A Federal Reserve Bank is one of the twelve regional banks of the Federal Reserve System in the United States of America. The Federal Reserve Banks are saddled with the responsibility of implementing the monetary policy designed and provided by the Federal Open Market Committee (FOMC).

Federal Reserve System also known as the Fed, was created under the Federal Reserve Act which was passed by US Congress in 1913. The Fed began its operations in the year 1914. It's a financial institution which was founded by President Woodrow Wilson and was primarily aimed at backing each banks in order to put a definitive end to the bank panics of the 1800s.

Furthermore, just like all central banks, the Fed is a government financial institution which is saddled with these responsibilities;

1. Controlling the issuance of currency in United States of America: the Fed promotes public goals such as economic growth, low inflation, and the smooth operation of financial markets.

2. Providing banking services to all the commercial banks in the country: the Fed is the "lender of last resort.

3. Regulating banking activities: it has the power to supervise and regulate banks.

The Federal Reserve Board is the governing body which essentially manages the Federal Reserve System and performs an oversight function on domestic monetary policies.

<em>Additionally, the interest rate that the Federal Reserve Bank (the Fed) charges member banks for loans is known as the discount rate. Also, the Fed can increase the money supply by lowering this rate (discount rate) and thus, empowering the member banks to lend more money.</em>

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3 years ago
LO 8.5Identify several causes of a favorable labor rate variance.
arlik [135]

Answer and explanation:

Direct labor rate variance contrasts current direct labor costs over the same duration of service with usual direct labor costs. Favorable fluctuations in the labor rate can be caused by hiring more unskilled workers, reducing the minimum wage, and inappropriately setting indirect labor costs.

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3 years ago
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