Allowance for doubtful accounts is classified as a(n) contra asset account and has a normal <u>credit </u>balance.
<h3>What is
contra asset?</h3>
In a general ledger, a contra account is used to lower the value of a linked account when the two are netted together. The natural balance of a contra account is the inverse of the related account. The contra account records a credit if the connected account's natural balance is a debit. As an illustration, accumulated depreciation serves as the contra account for a fixed asset.
An account used in a general ledger to lower the value of a connected account is called a contra account.
They can be used to report a decrease or write-down in a different contra account that nets to the current book value while maintaining the historical value in the main account.
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Answer: When the price of clothes in world supply falls due to an expansion in the Chinese clothing industry, the exportation profit on clothes will drop, because the supply is above demand, which will reduced the selling price. The reduction in selling price will be because of competition of customers between the exporters.
The importers will not be affect much, because their will only buy from a dealer who is ready to sale in relation to the decrease in consumer price. Therefore the importers are not in a disadvantage of this event, rather it will grow their profit, as the competition between the exporters increase.
The exporters in this context are those that produce the clothes for exportation. And the importers are those that buys the clothes and sale it in another country.
Answer:
b. Smartphone
Explanation:
Smartphones are the hybrid versions of mobile phones, having more features that enables it to run different applications and tasks with the aid of applications such as browsers, multimedia, gps etc.
Smartphone devices are able to read informations or data stored on NFC tag.
Answer:
True
Explanation:
Return from operating activities are returns made from the regular and recurring operations of a business. Since they are from the normal operations of a company, they are less risky than returns made from the non-operating activities of a company which do not re-occur.
As such, a firm that earns more of its return from operating activities which are recurring is usually considered less risky than a firm than earns more of its return from non-operating activities which are usually one-off.
