A.
raise the sales tax a way for states or local governments to raise revenues immediately
Answer:
An <u>account</u> is maintained for each financial statement item, whereas a(n) <u>general ledger</u> contains all of the accounts of the company.
Explanation:
Financial statements refers to a statement that that provides formal records of all financial activities and standing of a company or any entity in a structured and easily understandable manner.
For each item of financial statement, an account is kept with the aim of giving a an accurate record of all business activities that are germane to that specific financial statement item.
The purpose of a general ledger is to show individual transactions and resulting account balance of each account of a company as a single collection.
Therefore, an <u>account</u> is maintained for each financial statement item, whereas a(n) <u>general ledger</u> contains all of the accounts of the company.
Answer:
d. inventory is sold at a profit
Explanation:
Net working capital increases when <u>inventory is sold at a profit</u>
Net working capital = Current Assets - Current Liabilities
. Cash, Inventory and receivables are part of current assets
Hence, when inventory is sold at profit, cash received is more than decrease in inventory and hence, current asset increase and hence, working capital increases. When it is sold at cost, it remains the same. Purchase of inventory on credit will lead to same amount increase in current assets and current liabilities. Payment by customer will lead to increase in cash and decrease in accounts receivable, Hence, no impact
<span>Nutrition Labeling and Education Act
This act requires nutrition labeling on food and standardizes terms such as serving size, "low fat", "light", and the such. It prevents things such as claiming "low calorie" cause the "calories per serving" is only half of the competitors, while specifying an absurdly low serving size that's also half the size the competitors use.</span>
