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3 years ago

Classify the following items as (a) prepaid expense, (b) unearned revenue, (c) accrued revenue, or (d) accrued expense:

Business

1 answer:

Tema [17]3 years ago

4 0

Answer & Explanation :

a. Prepaid Expenses : These are expenses paid before the due date.

Eg - April'19 rent already paid in March'19

b. Unearned Income : These are revenues received before the due date. It is also called Advance Income

Eg - March'19 commission already received in Feb'19.

c. Accrued Revenue : These are revenue earned & due to be received, but still not received. It is also called Outstanding Income.

Eg - March'19 commission earned revenue not received till March'19 end

d. Accrued Expense : These are expenses due but not paid. It is also called Outstanding Expense.

Eg - March'19 rent not paid till March'19 end

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2.what are some of the reasons people don’t manage their money well for the future?

Flura [38]

1) They are young and not so smart o( just a saying), 2) They think they will be rich forever and forever be on top of the world, 3) Ignorance or following the wrong financial advice, 4) Instead of them wisely taking care of their finances, they put it in other people's hands, who of course abuse it as well or take advantage. :)

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4 years ago

What are the determinants of supply? Instructions: In order to receive full credit, you must make a selection for each option. F

inysia [295]

Answer:

Number of producers

Prices of other goods

Technology

Resource prices

Explanation:

Supply is the total amount of goods and services available to consumers in a market

The higher the number of producers, the higher the number of goods produced and the higher the supply all things being equal. The reverse would be the case if the number of producers fall.

If the price of other good increases, it would be more profitable to produce the other goods. As a result, the number of producers available to good would reduce.

Technological progress that reduces cost of production and makes production more efficient, would lead to an increase in supply.

If the price of inputs increases, it becomes more expensive to produce the good and as a result, supply would fall.

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4 years ago

Read 2 more answers

In a ________ computing model, companies use their own infrastructure for essential computing tasks and adopt public cloud compu

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Answer:

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3 years ago

Select all that apply Which of the statements below summarize why a seller would give a sales allowance? (Check all that apply.)

Varvara68 [4.7K]

Answer:

I. In order to entice a customer to keep damaged or defective merchandise, the seller is willing to decrease the selling price.

II. The seller wants to avoid future lost sales.

III. The seller wants to keep a customer happy.

IV. Sold merchandise was defective or unacceptable.

Explanation:

Sales allowance can be defined as a reduction in the price of goods that a seller gives to a customer due to quality issues, incorrect pricing, shipping, etc.

The statements which best summarize why a seller would give a sales allowance are;

I. In order to entice a customer to keep damaged or defective merchandise, the seller is willing to decrease the selling price.

II. The seller wants to avoid future lost sales.

III. The seller wants to keep a customer happy.

IV. Sold merchandise was defective or unacceptable.

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3 years ago

Shirley Macuga is the world’s fastest typist and is also a world famous brain surgeon. She earns $5,000/hour operating on brains

mote1985 [20]

Answer:

Yes

Explanation:

30 mins of typing would have an opportunity cost of $2500 of surgery

She's paying $2000 and earning $2500.

So she is smart

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3 years ago