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WINSTONCH [101]
3 years ago
9

Why does the term debit not always mean increase and credit does not always mean increase.

Business
1 answer:
GrogVix [38]3 years ago
3 0
Sometimes you will use Debit to increase an account (ie: Assets) and sometimes you will use Credits to increase an account (ie: Liabilities)
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When a producer offers a prospective insured a portable dishwasher as a bonus for purchasing a policy, he/she could be guilty of
Alik [6]

Answer:

The correct answer to the following answer will be Rebating.

Explanation:

Rebating: It is a manner to get potential insurance customers to purchase the insurance product by returning their money to the broker or agent. The insurance company can even offer premium or even donation discounts. Insurance regulators do not find this to be a good exercise since unfair competition can grow and insurance insolvency can occur.

Therefore, Rebating is the correct answer.

8 0
2 years ago
Journalize the following selected transactions for January. Journal entry explanations may be omitted.
ycow [4]

Answer and Explanation:

The journal entries are shown below:

On Jan 1

Cash $14,000

     To Capital owner $14,000

(being cash received)

On Jan 2

Cash $9,500

    To Account service revenue $9,500

(being cash received)

On Jan 3

Account receivable $4,200

       To Service revenue $4,200

(being service provided on account)

On Jan 4

Advertising expense $700

       To Cash $700

(being cash paid is recorded)

On Jan 5

Cash $2,500

       To Account receivable $2,500

(being cash received)

On Jan 6

Owner drawings $1,010

       To cash $1,010

(being cash paid is recorded)

On jan7

Telephone expense $900

      To Account payable   $900

(Being telephone bill received)

On Jan 8

Account payable $900

         To cash

(being cash paid is recorded)

3 0
2 years ago
Sandra has two credit cards, P and Q. Card P has a balance of $726.19 and an interest rate of 10.19%, compounded semiannually. C
Elan Coil [88]
First, convert interest to the effective annual interest rate using this formula:

(1 + i/m)^m - 1, where m = 2 for semiannual and m = 12 for monthly. Then, use this formula to find the future worth:

F = P(1+i)^n, where P is $726.19 and <span>$855.20, respectively, for Card P and Q. n is equal to 4.

Card P: F = 1080.704
Card Q: F = 1206.284

Then, find the amount decrease by subtracting F - P.

Card P: F - P = $354.514
Card Q: F - P = $351.084

The difference between the two is $3.43. Thus, the answer is C.</span>
5 0
3 years ago
Read 2 more answers
Brooklyn sells a single product to wholesalers. The company's budget for the upcoming year revealed anticipated unit sales of 33
ELEN [110]

Answer:

E. not change.

Explanation:

The break even point is a point at which the company produces a quantity at which it does not earn any profit or face any losses, so it is a point where the revenues are equal to cost. The break even quantity depends on the fixed cost, variable cost and price of the product and not on the quantity sold. So when the Brooklyn Unit sales are 300 units less than expected it wont change the break even point because the break even point has no relation to it.

8 0
3 years ago
If rita, as a consumer, has a complaint about the privacy and data practices of the social media company, rita can submit her co
il63 [147K]

Based on the fact that Rita has a compliant about the privacy and data practices of the social media company, Rita can submit a complaint to the Federal Trade Commission.

<h3>Who can consumers complain to?</h3>

The Federal Trade Commission exists for being able to help consumers who are being faced with unfair and unjust business practices.

This means that if Rita has any reason to believe that the social media company is failing in its privacy and data practices policies, Rita can reach out to the Federal Trade Commission with a complaint.

Find out more on the Federal Trade Commission at brainly.com/question/27860621

#SPJ1

5 0
1 year ago
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