Answer:
assets, liabilities, common stock, retained earnings, dividends, revenues, and expenses
Explanation:
General Ledger accounts are prepared to sort and summarize various accounts.
The order followed while presenting general ledger accounts has balance sheet items i.e assets and liabilities presented first followed with income statement items.
Assets and liabilities come first. Assets refer to items of value or something that yields future benefits. Liabilities refer to obligations which are owed and need to be discharged in future.
Retained earnings refer to retained profits which are pumped back into the business.
Revenues and expenses are costs or incomes arising out of routine business activities.
This action is a violation of Cost Principle or Historical Cost Concept.
<h3>What is Historical Cost Concept?</h3>
The historical cost principle states that a company or business must account for and record all assets at the original cost or purchase price on their balance sheet and not at its market price.
The historical cost principle forms the foundation for an ongoing trade-off between usefulness and reliability of an asset.
Thus, if the modern enterprises reported all assets in the accounts at current market value. This action is a violation of Cost Principle or Historical Cost Concept.
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When two variables relate such that one variable increases while the other one decreases means that the relationship is d. Negative.
<h3>What is a negative variable relationship?</h3>
This refers to a relationship between two variables where they move in opposite directions. For instance, an increase in one means that there is a decrease in the other.
An example of this would be eating a snack. The more snacks you eat, the less snacks remain in the snack container.
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Answer:
Total cash collection= $42,300
Explanation:
Giving the following information:
<u>Sales:</u>
First month= $40,000
Second month= $61,000
The company expects to collect 30% of its credit sales in the month of the sale, 60% in the following month.
<u>Cash collection Second month:</u>
Cash collection credit sales from the second month= (61,000*0.3)= 18,300
Cash collection credit sales from the first month= (40,000*0.6)= 24,000
Total cash collection= $42,300
Answer:
(E). Pay policies are important human resource tools for encouraging desired employee behaviors.
Explanation:
A pay policy determines how and when employees will be compensated or paid. Payment may include salary, commission, bonuses, allowances.
The human resources department of an organization is responsible for determining the pay policy and structuring it in such a way that employees are motivated, encouraged and rewarded for their efforts.