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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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Emmy worked late nights at a convenience store. One night, Emmy discovered that the ""emergency alert"" security system was not
Margaret [11]

Answer:

The correct answer is letter "A": for negligence because the harm was foreseeable.

Explanation:

In Law, foreseeability is a concept related to what the proximate causes could be after an event. The concept is helpful to determine the limit of liability according to the primary event that happened and the type and manner of harm. The harm caused by rescuers like firefighters and negligence of health care providers like doctors and nurses is considered foreseeable.

<em>In Emmy's case, the repeated thefts to the store where she works while having a nonfunctioning alarm (negligence) make the store owner liable for the injuries caused by a perpetrator who broke Emmy's leg during a robbery since that event was foreseeable.</em>

6 0
3 years ago
Before year-end adjusting entries, Dunn Company's account balances at December 31, 2020, for accounts receivable and the related
navik [9.2K]

Answer:

Option (B) is correct.

Explanation:

Given that,

Accounts receivables = $1,500,000

Allowance for doubtful accounts = $90,000

Expected uncollectibles = $125,000

The collection of accounts receivables after the adjustment for bad debt expense is determined by deducting the expected uncollectibles from the total amount of accounts receivables.

Accounts receivable amount expected to be collected after adjustment for bad debt expense:

= Accounts receivables - Expected uncollectibles

= $1,500,000 - $125,000

= $1,375,000

7 0
3 years ago
Why would a smart person keep at least a $100 balance in their checking account
Delvig [45]
It’s going to be A and it’s self explanatory so i don’t have an explanation
8 0
3 years ago
Single Corp. is a company with three divisions that produce completely different products. These three divisions must seek fundi
Lorico [155]

Answer:

pooled interdependence.

Explanation:

The single crop is a company with three different division. Three division who work independently and do not interact with each other but work towards the betterment of the whole company can be described as pooled interdependence. Pooled interdependence is a way in which companies operated by designing different department that works independently towards a common goal.

3 0
3 years ago
Assume that Tom and Mason are in the 24% marginal tax bracket and the actual before-tax cost for Tom to drive to and from work i
kicyunya [14]

The question incomplete! The complete question along with answer and explanation is provided below.

Question:

Eagle Life Insurance Company pays its employees $.30 per mile for driving their personal automobiles to and from work. The company reimburses each employee who rides the bus $100 a month for the cost of a pass. Tom, in his Mazda 2-seat Roadster, collected $100 for his automobile mileage, and Mason received $100 as reimbursement for the cost of a bus pass.

a. What are the effects of the $100 reimbursement on Tom's and Mason's gross income?

b. Assume that Tom and Mason are in the 24% marginal tax bracket and the actual before-tax cost for Tom to drive to and from work is $0.30 per mile. What are Tom's and Mason's after-tax costs of commuting to and from work?

Explanation:

a.

For Tom:

He is required to include the $100 in gross income therefore, he would have to pay after-tax cost on the reimbursement.

For Mason:

He is not required to include the $100 in gross income due to qualified transportation fringe.

b.

For Tom:

Marginal tax = 24%

The after-tax cost of commuting = 0.24*$100 = $24

The before-tax cost of commuting = $0 (since he was reimbursed)

For Mason:

The after-tax cost of commuting = $0

The before-tax cost of commuting = $0 (since he was reimbursed)

5 0
3 years ago
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