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
Natalija [7]
3 years ago
12

What is accounting ​

Business
1 answer:
andre [41]3 years ago
4 0

Answer:

Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing, and reporting these transactions to oversight agencies, regulators, and tax collection entities. The financial statements used in accounting are a concise summary of financial transactions over an accounting period, summarizing a company's operations, financial position, and cash flows. Accounting is the recording of financial transactions along with storing, sorting, retrieving, summarizing, and presenting the results in various reports and analyses. Accounting is also a field of study and profession dedicated to carrying out those tasks.

Explanation:

You might be interested in
For each of the following​ companies, specify whether each company would be more likely to use job costing or process costing. a
Oduvanchick [21]

Answer: For each of the following​ companies, each company would be more likely to use:

a. Janitorial services company - <u>Job costing.</u>

b. Soup manufacturer - <u>Process costing.</u>

c. Commercial plumbing contractor - <u>Job costing.</u>

d. Toothpaste manufacturer - <u>Process costing.</u>

e. Catering service - <u>Job costing.</u>

7 0
3 years ago
On April 1, 20X4, Kew Co. purchased new machinery for $300,000. The machinery has an estimated useful life of five years, and de
Afina-wow [57]

Answer:

The answer is B. $180,000

Explanation:

The sum of years' digits method is an accelerated depreciation that is based on the assumption that the productivity of the asset decreases with time.

Here, the sum of the digits are found. In this question, useful life is 5 years. So the sum of the digit is:

5+4+3+2+1 = 15.

April 1 20X4 through March 31 20X6 is 2 years.

First year depreciation is:

5/15 x $300,000

=$100,000

2nd year depreciation is:

4/15 x $300,000

=$80,000

Therefore, accumulated depreciation is

$100,000 + $80,000

$180,000

7 0
2 years ago
Bob Jensen Inc. purchased a $650,000 machine to manufacture specialty taps for electrical equipment. Jensen expects to sell all
wolverine [178]

Answer:

?????????????????????

Explanation:

5 0
3 years ago
Delaney Inc. has several transactions with foreign entities. Each transaction is denominated in the local currency unit of the c
lina2011 [118]

Answer:

qwertyuiopasdfghjklzmnbxvctqyeuippskdnf

Explanation:

di kopo yarn alam

5 0
2 years ago
Correctly complete the following statement. We may be more likely to consider using qualitative forecasting techniques when Sele
Nostrana [21]

Answer:

b

Explanation:

There are two types of forecasting method

1. Qualitative forecasting

2. Quantitative forecasting

Qualitative forecasting can be described as when subjective judgement or non quantifiable information in forecasting.

<em>When is qualitative forecasting suitable ?</em>

  1. It is used when historical data in unavailable.
  2. this method is suitable when it is predicted that future result would depart from what historical data may suggest

<em>Advantages of Qualitative forecasting </em>

  1. it is flexible
  2. It can be used when data available is ambiguous or unclear

<em>Disadvantage of Qualitative forecasting </em>

It is subjective.

Quantitative forecasting can be described as forecasting using historical data

3 0
2 years ago
Other questions:
  • Your roommate, Allison Albright, is a non-business major. When she discovered that you are taking a course in Organizational Beh
    15·1 answer
  • A risk manager needs to locate a full report of a patient's fall from his bed, including witness reports and probable reasons fo
    10·1 answer
  • A review of Elisa Company's financial statements reveals the following information: cost of goods sold: $200,000; increase in in
    15·1 answer
  • What is the policy used most by the Fed to change the money supply?
    14·1 answer
  • A corporation’s articles of incorporation can be changed relatively easily. True False
    5·1 answer
  • Pilgrim Company applies overhead on the basis of machine hours. Given the following data, compute overhead applied and the under
    8·1 answer
  • Advertising refers to any paid form of personal communication about an organization, product, service, or idea by an identified
    13·1 answer
  • The process cost summary summarizes:_________
    10·1 answer
  • Population estimates show that by the year 2030, nearly 72 million of the population in the united states will come from which g
    10·1 answer
  • ______________ can enable trading partners to consume more than they can produce domestically.
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!