Succession takes place when what you've reached the your overall goal/goals.
The journal entry to record the given sale of $200 on credit would include a debit to the bill receivables account.
<h3>What is a journal entry?</h3>
A systematic and chronological record of financial transactions that take place in a business organization during a given period is known as a journal entry.
Hence, the significance of journal entry is given.
Learn more about a journal entry here:
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Valve guides are one of the components in the engine that are subjected to a hard thermal and mechanical stresses. There are 3 specific types of valve guides, and they are :
Mono-metallic Valves - Produced with the idea of hot extrusion process or stamping process;
Bi-Metallic Valves - Make as possible to use the perfect combination of materials, both for the steam and the head;
Hollow Valves - This Valve guide have a particular use that it helps to reduce the weight and also reduce the temperature. Filled with sodium, the shaker effect of the sodium means that heat can go from the valve head to the valve stem, after this the temperature reduction of between 80°C and 150°C can be achieved.
Answer:
Except Materiality.
Explanation:
The qualitative characteristics of accounting information are divided into;
i. Fundamental ( Relevance (materiality) and faithful representation)
ii. Enhancing.
According to ACCA and IASB the fundamental characteristics has two major components; a. Relevance and b. faithful representation.
Relevance actually mean having material value. In accounting, a transaction has material value if it inclusion or omission can change the overall opinion of the financial statement from a profit to loss.
<u>Explanation</u>:
In the first scenario, because of being the only student in the class my efforts to produce good grades will be low and inefficient since I believe there is no one competing with me for good grades.
However, in the second scenario of a class of 40 students, there will be great competition to be that 1 student to get a good grade as mentioned by the teacher. Changes will be seen in my efforts at study and paying attention in class, as well as asking questions about the subject in order to get a good grade.
