Leon is best described as late majority, who are usually influenced by group norms. You can see that here as well - he didn't plan on buying that product, but he was influenced by the group of people around him, his friends, who have all bought it and recommend it to Leon to buy as well. He is "late" because he didn't purchase it immediately, but belongs to the majority, because most people will buy the product nevertheless.
<span>They both must choose how to allocate their resources.</span>
The adjusting entry for a prepaid expense includes a debit to a expense account and a credit to an asset account.
<h3>What is
adjusting entry ?</h3>
An adjusting journal entry can be described d as the entry in a company's general ledger which is been carried out at end of an accounting period in order to have the record of any unrecognized income or expenses.
It should be noted that The adjusting entry for a prepaid expense includes a debit to a expense account and a credit to an asset account.
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Answer:
Points
Explanation:
Mortgage points or discount points are prepaid interest available when obtaining a mortgage.
When a lender charges the borrower points he is in effect increasing the yield on the loan above the interest rate agreed on the loan.
Borrowers can also offer points to the lender to obtain a reduced interest rate and reduced monthly payment in exchange for upfront payment of points.
<span>It is imperative to have accurate information when completing year end financial statements. If a journal entry and posting for the use of office supplies was omitted in error, the financial statements would not be complete, and the company could possibly lose out on a tax deduction.</span>
