Answer:
Adjustments are made at the end of the accounting period because making them on a daily basis would be inefficient.
Explanation:
Adjusting entries are adjustments made on accounts to recognize revenue or expenses that were not properly recorded before. They are usually done at the end of the month or the end of the accounting period to balance debit and credit records.
While you record daily transactions the same day in which they occur.
Answer:
The correct answer is letter "B": Congratulations! We would like to offer you the position of senior analyst.
Explanation:
Direct writing implies providing relevant information at first and additional details at the end. This is to avoid misinterpretation of the message and to avoid running in circles before giving the audience news that can be of interest. Direct writing must be objective and avoid exuberance. Thus, the phrase:
<em>Congratulations! We would like to offer you the position of senior analyst.</em>
Meets the direct writing criteria since it straight provides the information the reader was waiting for -being accepted or not for the senior analyst position.
Answer:
B. 17.78 days
Explanation:
Days Sales Outstanding or Age of Receivables measures the average number of days it take for a company to collect its receivables.
This is computed by dividing the Average Accounts Receivables over Daily Sales. Bear Rug's Average Accounts Receivable is $39,500 ($41,000 + $38,000/2) while its Daily Sales is 2,222 ($811,000/365).
Thus, the average days for the firm to collect its receivables are 17.78 days ($39,500/2,222).
Based on how each product consumes activities, activity-based costing allocates selling and administrative expenses. Hence, Option D is the correct statement.
<h3>What do you understand by Activity-based costing?</h3>
A costing technique that identifies activities in an organization and assigns the cost of every activity to all services and products in line with the real consumption via way of means of each is referred to as Activity-based costing.
This version of the costing technique assigns greater indirect costs into direct fees as compared to traditional costing.
Hence, Based on how each product consumes activities, Activity-based costing allocates selling and administrative expenses. Option D is the correct statement.
learn more about Activity-based costing:
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