Answer:
The correct answer is (A) True.
Explanation:
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Answer:
A. The company would debit the Allowance account instead of Purchase Returns.
Explanation:
In the management of purchases transactions, a company will maintain several other accounts such as purchase returns and purchases allowance.
Purchases allowance will include allowances such as discount received and other compensations from suppliers. The allowances reduce the net value of the purchases. i.e., when calculating the net purchases, one has to deduct the purchases allowed amount. When the business receives a purchase allowance, the amount will increase the purchases allowance account. The accountant will, therefore, debit that account.
Purchases returns are goods that the company had purchased from suppliers but have returned them for some reason. They could be defective or inappropriate.
Answer:
The answer is: the 80/20 rule
Explanation:
Applied in business, the 80/20 rule (also called the Pareto Principle), states that 20% of your customers account for 80% of your sales. It doesn´t necessarily need to be an exact proportion of 80/20, but as a rule it should help organize our time and activities in dealing with our most important customers.
As a general rule it applies to most activities of a person´s ordinary life, were 20% of the time we spend result in 80% of the benefits.
A tenant rented an apartment, signing a 15-month lease. After the lease expired, the tenant paid 1 month's rent and got a receipt. What kind of leasehold goes the tenant have holdover tenancy
A holdover tenant is a tenant who continues to occupy a rental after the lease has ended. The holdover tenant can continue to occupy the property legally if the landlord accepts rent payments; the length of the holdover renter's new rental term is determined by state legislation and court decisions. The tenant is seen to be trespassing if the landlord refuses to accept any additional rent payments, and if they do not leave right away, an eviction may be required.
- A holdover tenant is one who keeps making rent payments after the lease has ended. To avoid starting eviction procedures, the landlord must also concur.
- In a murky space between a full rental agreement and trespassing, holdover tenancy exists. All parties are better protected by even a one-sentence agreement, thus it should be taken into consideration.
- The month-to-month rental clause that is found in the majority of lease agreements frequently eliminates this problem.
Learn more about holdover tenancy here
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