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adelina 88 [10]
3 years ago
14

Why does a company need to close its accounting books? Select one: a. Training in the system is finished. b. Storage space is li

mited. c. Companies need to zero out certain accounts to start anew for the next period. d. Certain financial statements take too much time.
Business
1 answer:
Illusion [34]3 years ago
5 0

Answer:

Correct option is (c)

Explanation:

Organizations empty all temporary accounts at the end of the year and transfer the balance to retained earnings. Permanent accounts on the contrary, are not closed at the end of the year. They are carried forward to the next year.

As such, companies need to close accounting books at the end of the year as these temporary accounts are closed. Some temporary accounts are revenue and expenses.

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The tax laws allow taxpayers to use which of the following methods for accounting for research and experimentation costs paid or
Anettt [7]

Answer:

b

Explanation:

Another definition:

It is the purchase price of an asset + the costs of operating the asset

4 0
3 years ago
QS 19-10 Computing contribution margin LO P2 D’Souza Company sold 6,000 units of its product at a price of $88.00 per unit. Tota
Nikitich [7]

Answer:

$218,400

Explanation:

The computation of contribution margin is here below:-

                                               Units       Cost per unit         Total

Sales                                     6,000        $88                       $528,000

Less:

Variable production cost     6,000        $40.8                  $244,800

Variable selling and

administrative costs        6,000         $10.8                   $64,800

Contribution margin                                                           $218,400

Therefore the we multiplied the sale unit with cost per unit, in the similar way we multiplied the Variable production cost unit with cost per unit and Variable selling and administrative costs with cost per unit to reach the contribution margin.

4 0
3 years ago
The unemployment rate in an economy is 6 percent. The total population of the economy is 290 million, and the size of the civili
Tema [17]

Answer:

2. 9 million

Explanation:

We know that

Unemployment rate = Number of unemployed workers ÷ Civilian labor force

6% = Number of unemployed workers ÷ 150 million

So, the number of unemployed workers would be

= 150 million × 6%

= 9 million

We simply applied the unemployed rate so that the number of unemployed workers could come

All other information given is of no significance. So, ignored it

7 0
4 years ago
1. Identify various production processes and
rewona [7]

Answer:

D

Explanation:

8 0
4 years ago
Quien es el equipo con más champions​
Black_prince [1.1K]

Responder:

Real Madrid

Explicación:

El Real Madrid ha ganado la Liga de Campeones un récord asombroso 13 veces. (Todo lo que hice fue buscar en Google "quién es el equipo con más campeones" y eso es lo que obtuve) Espero que esto ayude.

6 0
3 years ago
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