1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Nataly [62]
3 years ago
8

Describe the steps involved in closing the books. What’s is the most important output of the accounting cycle? What would happen

if the books were never closed?
Business
1 answer:
yuradex [85]3 years ago
8 0

The steps involved in closing the books are as follows:

Closing the Revenues

Closing the Expenses

Closing the net income

Closing the dividend and withdrawals


The most important output of the accounting cycle is the financial statement like balance sheet and Income statement. If the books were never closed, then the business would never be able to know the financial position for a particular accounting period.  


You might be interested in
Which firm is the oligopolist? Choose one: Firm A is in retail. It is one of the largest and most popular clothing stores in the
skelet666 [1.2K]

Answer:

Firm B is in the auto rental business. It is not the nation’s largest rental company, but significant barriers to entry enable it to serve customers across the United States more conveniently and at a lower price than local rivals.

Explanation:

For the given options we considered Firm B to be treated as the oligopolist as the firm nor its competitors would have the major impact over the market also there are entry & exit barriers from the market

So the firm B should be chosen as the oligopolist

Therefore the same should be considered and relevant

3 0
3 years ago
You buy a seven-year bond that has a 5.25% current yield and a 5.25% coupon (paid annually). In one year, promised yields to mat
Rufina [12.5K]

Answer:

HPR = 0.371%

Explanation:

we must first determine the price of the bond in 1 year:

present value of face value = $1,000 / (1 + 6.25%)⁶ = $695.07

present value of coupon payments = $52.50 x 4.87894 (PV annuity factor, 6.25%, 6 periods) = $256.14

market price in 1 year = $951.21

since you bought the bond at face value (market value = YTM), the the holding period return is:

HPR = [(ending price - actual price) + dividends received] / actual price

HPR = [($951.21 - $1,000) + $52.50] / $1,000 = $3.71 / $1,000 = 0.371%

5 0
3 years ago
A contractual arrangement between a parent company and an individual or firm that allows the latter to operate a certain type of
Serhud [2]

Answer:

Franchising

Explanation:

Franchising is defined as the contract that exists between a parent company (franchisor) and other firms (franchisee) in which an operating licence is given to the franchisee.

The franchisor gives access to use of their brand and also provides support and training to the franchisee.

Franchisee in turn gives an agreed amount of profit to the franchisor for using their brand.

An established name and specific rules of operation is agreed upon in the contract.

4 0
3 years ago
The top managers of an organization typically use a variety of financial indicators to assess the performance of their organizat
AnnyKZ [126]

Answer:

Four significant types of financial measures are :-  

1. Profitability or re-turn on investment :- rate of profitability is utilized by the top administrator to know the increase or profit for the speculation comparative with the measure of cash contributed. This is likewise utilized by the supervisor to know the gross productivity, net benefit, return on resources, rate of profitability, gaining per share, speculation turnover and deals per representative.  

2. Liquidity ratio :- liquidity proportion is utilized by the top chief to realize the organization's capacity to pay its present commitment. organization's liquidity proportion incorporates current proportion, speedy proportion, money to add up to resource, deal to receivable, Days' receivables proportion, Cost of deals to payable, and money turnover.  

3. Leverage ratio:- Leverage ratio is utilized by the chief to know the solvency of the organization. Influence incorporates Debt to value proportion, Debt proportion, Fixed to worth proportion, and Interest inclusion.  

4. Efficiency ratio - productivity proportion is utilized by the top supervisor to gauge the organization's capacity to utilize its assets and oversee liabilities successfully for the time being. It incorporates Annual stock turnover, Inventory holding period, Inventory to resources proportion Inventory/Total Assets, Accounts receivable turnover Net (credit) Sales/Average Accounts Receivable and Collection period 365/Accounts Receivable Turnover

4 0
3 years ago
Suppose two economists are debating a tax reform bill. Both economists agree that the bill would increase the after-tax income o
valentina_108 [34]

Answer:

d) Differences in values.

4 0
3 years ago
Other questions:
  • Which of the following is TRUE regarding​ computer-aided design?
    12·1 answer
  • Through the ________, president obama was able to inject the national economy with $787 billion, reducing unemployment and incre
    15·1 answer
  • What is the advantage of a variable-interest
    7·1 answer
  • Ajay is an Indian who owns a multinational company (MNC) that is headquartered in Bangalore. He ensures that his company consist
    7·1 answer
  • On March 1, 2020, Mike Dials purchased a suit at Crane's Fine Apparel Store. The suit cost $950 and Mike used his Crane credit c
    13·1 answer
  • Clearly establishing responsibilities and assigning all accounting activities to one person is an important principle of interna
    13·1 answer
  • In a comparative market analysis, the subject property has 2 bedrooms, 2 baths, a 1/2 acre lot and a swimming pool. A $115,000 c
    7·1 answer
  • The one thing that can help establish your right to lead the project more than anything else is
    14·2 answers
  • If a company's current ratio increases from 1.2 to 1.4 from one year to the next, and its quick ratio decreases from 0.2 to 0.15
    5·1 answer
  • Choosing which types of assets you will invest in is known as
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!