Answer:
The correct answer is letter "B": after the financial statements are prepared.
Explanation:
A closing entry is a journal entry after the preparation of the financial statements, at the end of an accounting period. This closes a temporary account and moves all the information either to a permanent balance sheet or to the income statement. Temporary accounts include revenue, expenses, and dividends and must be closed at the end of the year.
I would say
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Answer:
c) 8.44x
Explanation:
Total current assets = cash + account receivable + inventory
⇔ $79,000 = $35,550 + $19,750 + Inventory
⇒ Inventory = $79,000 - $35,550 - $19,750 = $23,700
The inventory circles based on annual sales = Sales/ inventory = $200,000/ $23,700 = 8.44
D. leniency is based on when somebody rates an employee too high. Strictness error is when somebody was rated very very low.
Why are debit cards not listed as money? B<span>ecause they perform the same function as checks, and checks are counted as money. Debit cards are sometimes called check cards because they are linked directly to a checking account just as writing a check to someone would be. Since they are essentially serving the same purpose as a check, they are not listed as a money source. </span>
