Answer:
We have a total Debit and credit amount of $24,400
Explanation
Attached herewith is the adjusted trial balance of the company. In preparation of trial balance, we must consider na nature of the accounts to be recorded. All assets account with normal balances should be posted as debits. All Liabilities and equities accounts with normal balances should be posted on credit side. Revenue is on credit side and all expenses on the other hand is posted on debit side.
Answer:
True
Explanation:
The fixed exchange rate came to an end in 1971 in the US.
Before 1971, the US currency value was tied to an ounce of gold. In 1971 the US economy was undergoing a recession. The US authorities bought all the gold value backing the dollar to end the recession. The dollar became a fiat currency.
The year also marked the beginning of the floating exchange system for the dollar.
A cost incurred in the past that is not relevant to any current decision is classified as a(n): Sunk costs
This is further explained below.
<h3>What are
Sunk costs?</h3>
Generally, A cost that has already been incurred but cannot be recouped is referred to as a "sunk cost" in economics and the process of making business decisions. In contrast to sunk costs, prospective costs are future expenses that might be avoided if action is done, while sunk costs have already been incurred.
In conclusion, A cost that was incurred in the past but is not relevant to any choice that is being made at this time is considered to be a(n): Incurred expenses
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Answer:
The opportunity cost will be Buying a new lawnmower
Explanation:
Opportunity cost refers to the cost of a forgone alternative. In this scenario, since the owner of a landscaping business has decided to spend the extra income on advertising campaign in order to increase sales, the forgone alternative here becomes buying a new lawnmower.
Answer:
D) contingency view.
Explanation:
The contingency viewpoint or approach is a behavioral model of leadership emphasizing the differences between every problem or challenge a business owner faces over a given period of time. A business owner or manager using the contingency approach to problem solving examines a wide variety of factors when determining workable solutions for each workplace issue.
Many factors go into tailoring a managerial decision or company initiative when using the contingency viewpoint or approach. A company's size, geographic location, prevailing organizational culture and even the diverse background of the company's workforce can affect how a manager or business owner work to develop a solution to a given issue.
