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Damm [24]
3 years ago
10

Which of the following is classified as an asset​ account?A.Notes PayableB.​Owner, WithdrawalsC.Prepaid InsuranceD.Unearned Reve

nue
Business
1 answer:
almond37 [142]3 years ago
8 0

Answer:

C.Prepaid Insurance

Explanation:

Prepaid Insurance is the insurance amount paid in advance, so that company has a receivable because amount is not due yet. It will charged to expense account with the passage of time. Notes Payable, Unearned Revenue, ​Owner Withdrawals are classified as liabilities and capital contra accounts. So correct option is C. Prepaid Insurance.

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: Jane and Sarah are both investors. Jane has invested thousands of dollars into one small company. Sarah has invested hundreds
Alja [10]

Answer:

Sarah has invested in sole proprietorship while Jane has invested in corporations

Explanation:

Sole proprietorship is owned and run by a single owner who is legally obligated for all business assets and liabilities. Since Sarah has invested thousands of dollars in one company, it looks like she has invested in sole proprietorship in which she is the owner.

Corporation is run by group of people who are not legally obligated for the assets and liabilities of the corporation. People can invest in more than one corporation as they are open for public offer. These investors earn dividends based on the earnings earned by the corporations So, possibly Jane has invested hundreds of dollars in different large companies.

7 0
3 years ago
A review of Munchen Corporation's financial statements reveals the following information: cost of goods sold: $100,000; decrease
drek231 [11]

Answer:

The Cash paid to suppliers was $85,000

Explanation:

Data provided in the question:

Cost of goods sold = $100,000

Decrease in inventory = $5,000

Increase in accounts payable = $10,000

Now,

Cash paid to suppliers will be

= Cost of goods sold - Decrease in inventory - Increase in accounts payable

= $100,000 - $5,000 - $10,000

= $85,000

Hence,

The Cash paid to suppliers was $85,000

8 0
3 years ago
What is the risk posture for each particular system as it contributes to the overall risk posture of the organization
Nutka1998 [239]

Please find attached full question Answera and Explanation:

Risk posture or cybersecurity posture is the general status or overall defense of the cybersecurity program in place in an organization to guard against cyber attacks and data breaches. For a company to maintain reasonable cyber security posture as there is no fool proof cybersecurity posture, there is need for regular continuous assessment of risk exposures and potential loopholes across the company's digital infrastructure. There are different digital and sophisticated infrastructures utilized by am organizations and most if not all are well prone to cyber attacks. These infrastructures are used by employees for work e. g-email, went servers, phones, networking devices and cloud programs etc . Therefore each employee must be educated in the need to safeguard company data by looking out for traps set by cyber attackers such as phishing in email and many other loopholes. Vulnerability tests need to be performed at regular intervals and reports monitored and analyzed to protect against a potential source of cyber attack.

7 0
3 years ago
1. General Electric is famous for firing the lowest-performing 10 percent of managers each year. With its strict no-layoffs poli
AleksAgata [21]

Answer:

Firstly i will discuss General electric philosophy. So, what happens is sometimes when you don't put pressure on managers then they become lethargic and slow. For this matter they needs reminder to stay on tip of their game. But at the same time its demotivating too.

Secondly, in Valero energy they believe in psychological safety, to make their employees feel secure and safe. It has great impact on employee performance.

Actually, company's performance is not measured by profit and loss alone. It also measures by other factors like employee safety, employee motivation, impact of policies on employees and bringing positive addition to the life of employee.

General electric is high performing company in terms of profit and revenue. They follow negative reinforcement philosophy.

Both concepts eargs the employees to perform better. But one approach is better i.e to make them feel secure and make them believe that company cares for their career, future and well being. That actually motivates the employee. In return employees works wonders for that company.

In latest HR practices, many professionals are shifting from General electric philosophy to Valero energy philosophy. Because it increases productivity of employee by positive reinforcement. Which actually is better.

3 0
3 years ago
Why is doing timely reconciliations a key part of internal control activities?<br> It ensures that
kati45 [8]

Answer:

It ensures that the Effective internal control reduces the risk of asset loss, and helps ensure that plan information is complete and accurate, financial statements are reliable, and the plan's operations are conducted in accordance with the provisions of applicable laws and regulations. ... Why internal control is important to your plan.

3 0
3 years ago
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