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Zielflug [23.3K]
3 years ago
13

The accounting process begins with: Multiple Choice Analysis of business transactions and source documents. Preparing financial

statements and other reports. Analysis of prepared financial statements. Presentation of financial information to decision-makers. Preparation of the trial balance.
Business
2 answers:
Kitty [74]3 years ago
6 0

Answer:

The accounting process begins with Analysis of business transactions and source documents

Explanation:

The Accounting process begins by<em> identifying the transactions and events</em> that occurred in the business.

After identification, the events and transactions have to be<em> recorded in appropriate Account</em> using the <em>proper books of entry</em>.

A list of Balances known as the <em>Trial Balance</em> is then computed when the Accounts are closed.

The Trial Balance is then used <em>to prepare financial statements</em>.

Financial Statements are then <em>Analysed</em> to assist various stakeholders and users of financial statements to <em>make decisions</em>.

Basile [38]3 years ago
6 0

Answer: Analysis of business transactions and source documents.

Explanation: The subtotal of steps or processes required by businesses to make financial evaluation and deduction of transactions which occurred during a particular period of time or pertaining to certain projects such that it portrays clarity and accountability could be referred to as an accounting process.

The process begins with the identity or analyzing businesses embarked upon during a particular period it involves gathering transactional documents such as receipt, invoice, agreement and other evidences relating to payment or receipt of funds. Transactions are then recorded in appropriate entries and a trial balance employed in other to prepare financial statement account by making appropriate input into the debit and credit columns. Prepared statement could then be analyzed and employed in decision making.

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A promissory note
Sloan [31]

Answer: c. may be used to settle an accounts receivable.

Explanation: A promissory note is defined as a financial instrument that contains a written promise by the note issuer or maker to pay the note payee a definite sum of money at a specific future date or on demand and  may be used to settle an accounts receivable (the balance of money due to a firm for goods or services delivered or used but not yet paid for by customers and are listed on the balance sheet as a current asset). They are commonly used in businesses as a form of short term financing as they can be exchanged for cash at a future time when account receivables have been collected.

8 0
3 years ago
According to the Bureau of Labor Statistics, what are some reasons for the decline in Manufacturing jobs? Check all
OverLord2011 [107]

Answer:

The answers are A,B,C on EDGE2021

Explanation:

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3 0
3 years ago
Which of the following is NOT a necessary condition for oligopoly? differentiated products barriers to entry strategic dependenc
stepladder [879]

Answer:

differentiated products.

Explanation:

An oligopoly occurs when a few large firms dominate a market and they aim to maximise profit. The action of one firm has significant effect on the market, so the firm's are interdependent.

There are high barriers to entry including use of government liscences, patents, economies of scale, and actions taken by firms to discourage entry into the market.

However differentiation of products is not a necessary condition for oligopoly. Products can be homogenous or differentiated.

8 0
3 years ago
Determine if the people in the example have benefited (i.e., are winners) or have been harmed (i.e., are losers) by unexpected i
nevsk [136]

Answer:

Winners

  • 3rd National, a bank that loaned many people money for home purchases.

Losers

  • Karen, a retired school teacher that relies upon her fixed pension to pay for her expenses.
  • Herb, who keeps his savings in an old coffee can.
  • Joy, who has borrowed $40,000 to pay her college education.
  • The US federal government which had almost $15 trillion in debt in 2011.

Explanation:

When unexpected inflation occurs, the usual plan to by Monetary Institutions of a country is raising the interest rates.

By doing that, they want to stop it or slowly decelerate it.

So that it becomes more expensive to take a loan, the idea is to reduce consumption.

In Economics, it's a bad scenario after all. Few winners. Many losers.

So, let's examine them

Winners

  • 3rd National, a bank that loaned many people money for home purchases.

At first, The 3rd National is going to be winning since the value of the debt will rise, depending on the type of contract and an increase in the interest rate will demand corrections on the monthly payments. But on the other hand, the number of default clients and overdue installments will raise for sure.

Losers

  • Karen, a retired school teacher that relies upon her fixed pension to pay for her expenses.

Inflation reduces the real buying value of her checks. And her pension can't grow otherwise this will feed the inflation too.

  • Herb, who keeps his savings in an old coffee can.

Since his money is not invested then He's not having any earning that might give him some compensation. So his money is even more devalued.

  • Joy, who has borrowed $40,000 to pay her college education.

Depending on the contract Joy might be sleepless. Either her monthly payments will become more expensive or She may experience difficulties because of the weekly growing prices.

  • The US federal government had almost $15 trillion in debt in 2011.

Certainly, the president and his secretary will have to address the fact that due to inflation and the chosen medicine make the nation's debt up to the sky. They must renegotiate the payment deadlines.

7 0
3 years ago
assume george's sandwich included the same ingredients as a sanwhich that you can buy at your local deli explain why georgs's sa
Anika [276]

Answer: Economies of Scale

Explanation:

Economies of scale refers to the tendency of costs to reduce per unit as the number of units produced increases. This is because the producer is able to share the costs amongst all the units produced.

George was getting those ingredients to make a single burger so the produce he used were small in quantity and cost him more. The companies that make sandwiches in large numbers buy and produce the ingredients in bulk which reduces their prices.

For example, George went to Minneapolis to get salt for one burger, those companies would go and get salt for 10,000 burgers at the same time which would reduce the cost by dividing it across the 10,000 burgers.

This cost saving from economies of scale enables the local deli to sell products at a cheaper rate than if we had to make them ourselves.

6 0
3 years ago
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