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vovikov84 [41]
3 years ago
9

Cash received before services are performed may be recorded as a debit to a cash account and a credit to a liability account is

called
Business
1 answer:
Lana71 [14]3 years ago
7 0

Answer:

The correct answer is: Unearned Revenue.

Explanation:

Unearned Revenues are advance payments that a company or individual collects for products and services that it has not yet rendered or delivered. Other terms for unearned revenue are advanced payments or deferred revenue. Unearned income must be debited to a cash account and credited to a liability account in compliance with the Generally Accepted Accounting Principles (GAAP).

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What is meant by allocative efficiency? Allocative efficiency is when every good or service A. is produced up to the point where
Alborosie

Answer:

Option (E) is correct.

Explanation:

Allocative efficiency is created when the gap between marginal benefit and marginal cost is maximum. The marginal benefit is the benefit that a consumer can get by consuming an additional unit of a commodity and the marginal cost is the cost that a producer incurred by producing an additional unit.

Hence, the allocative efficiency is achieved where the difference between these two terms is maximized.

5 0
3 years ago
Which of the following statements about human populations in industrialized countries is incorrect? Which of the following state
ozzi

Answer: Birth rates and death rates are high.

Explanation:

In industrialized countries the life expectancy is reasonably high, so it's false to state that the death rate is high.

Also in industrialized countries birth is controlled as against developing countries that don't really put birth control measures.

6 0
3 years ago
Cardinal Industries purchased a generator that cost $11,000. It has an estimated life of five years and a residual value of $1,0
gogolik [260]

Answer:

2080 dollars

Explanation:

Given that Cardinal Industries purchased a generator that cost $11,000

cost of generator = 11000

Estimated life       = 5 years

Residual value     =1000

Hours                    =5000

Depreciation per unit hour = (Cost - residual value)/total lifetime hours

=\frac{11000-1000}{5000} \\=2

For first year the generator was used for 1,040 hours.

Hence depreciation to be charged in I year

= 1040(2)\\=2080

answer is 2080 dollars.

3 0
3 years ago
A ________ has been defined as "an association of two or more persons who carry on as co-owners of a business for profit."
Goryan [66]
A partnership has been defined as "an association of two or more persons who carry on as co-owners of a business for a profit."


A partnership is a legal agreement/arrangement where people, known as partners, work together and are beneficial to one another in terms of business. A fun example of a partnership is Ben & Jerry's ice-cream. Founded by Ben & Jerry they were partners in their company and created a successful business though partnership. 
6 0
3 years ago
What is the difference between private and public company
vladimir2022 [97]
A public company is owned by anyone who buys its stock the people who own the most stock get to run the company, a private company is owned by the founder and anyone he hires
5 0
3 years ago
Read 2 more answers
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