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katrin [286]
3 years ago
14

Which of the following is true about a "credit"? I. It is part of the double-entry procedure that keeps the accounting equation

in balance. II. It represents a decrease to assets. III. It represents an increase to liabilities. IV. It is on the right side of a T-account. I and II. IV only. I, II, and III. I, II, III, and IV.
Business
1 answer:
kipiarov [429]3 years ago
3 0

Answer:

III. I, II, III, and IV.

  • I. It is part of the double-entry procedure that keeps the accounting equation in balance.
  • II. It represents a decrease to assets.
  • III. It represents an increase to liabilities.
  • IV. It is on the right side of a T-account.

Explanation:

The debit-credit balance is necessary for maintaining the accounting equation in balance, i.e. all the debits must have a corresponding credit.

Asset accounts increase when they are debited and decrease when they are credited.

Liabilities accounts decrease when they are debited and increase when they are credited.

Debits are on the left side of a t-account and credits are on the right side.

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Jordan Company budgeted sales of 400,000 calculators at $40 per unit last year. Variable manufacturing costs were budgeted at $1
MariettaO [177]

The minimum price Jordan would accept for this special order is $22

Explanation:

Special order 40,000 calculators

Order price $23

Total order price = 40,000× $23  = 920,000

Total order price = 40,000× $23  = 920,000

Note : according to the question.,there is no need for fixed manufacturing costs

Total cost Estimation = (Variable cost +estimated additional cost )×T.units

 = (19 + 3) = 22 ×40,000 units = 880,000

= (19 + 3) = 22 ×40,000 units = 880,000

profit from this order = 23-22 = 1 per unit ×40,000 = 40,000

The minimum price Jordan would accept for this special order is $22

                                   

3 0
3 years ago
In her job as a bookkeeper, Becca has learned that one of her strengths is her thoroughness and close attention to detail. Which
Nikitich [7]

The answer to the question is transferable skills. Transferable skills refer to <em>a group of skills that a person can use in a variety of occupations. </em>Its opposite is content skills, which refers to a group of skills that are commonly associated with a specific job-type.

Thus, since Becca mentions that her strengths are her thoroughness and close attention to detail, these strengths fall more into the category of transferable skills since she can use these skills in different occupations if she chooses to have a career change.  

3 0
3 years ago
Which of the following is NOT a repayment plan option?
max2010maxim [7]

Answer: Loan forgiveness repayment plan.

Explanation:

The Extended Repayment Plan: This is a repayment plan option whereby the loan can be paid back for a period of about 25 years.

The Income-Sensitive Repayment Plan: This is a repayment plan option for those who want low income. Here, payment can either increase or reduce based on what the person earns annually.

The Graduated Repayment Plan: This is a repayment plan option which increases every two years.

The loan forgiveness repayment plan is not a repayment plan option.

4 0
3 years ago
Choose the correct category for the items from Sun Company's perspective.
olga nikolaevna [1]

Answer:

a. Land purchased by Sun Company from a local finance company

1) REAL ASSETS, the land exists as a physical asset regardless of the company's transaction.

b. Sun Company's administration building, which houses the finance department

1) REAL ASSETS, the building exists as a physical asset regardless of the company's transaction.

c. Sun Company's inventories of raw materials

1) REAL ASSETS, the inventories exists as a physical asset regardless of the company's transaction.

d. Accounts receivable: money owed to Sun Company by other companies who have purchased products on credits

2) FINANCIAL ASSETS, accounts receivable is a financial concept, not a physical asset

e. Sun Company's corporate checking accounts

2) FINANCIAL ASSETS, checks is a financial concept that represent money, not a physical asset

3 0
2 years ago
____ emphasized designing and managing organization on an impersonal, rational basis through such elements as clearly defined au
AURORKA [14]

Answer:

bureaucratic organizations

Explanation:

Bureaucratic organizations -

It is a form of management with a pyramidal command structure , it is a very organized form of management , having formality , is known as bureaucratic organisations .

They are the one with high efficiency with strict control and command .

hence ,

The correct term for the given statement is  bureaucratic organizations .

7 0
3 years ago
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