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4 years ago

Select the account classification that matches with the description.

Business

1 answer:

Trava [24]4 years ago

5 0

Answer:

E. Revenues

Explanation:

The sale of products or services brings about revenue to the business.

The revenue according to the accrual concept is recognized when an entity has performed its obligation of delivering goods or rendering services to its customers.

Sale revenue has the expenses deducted from it in a bid to ascertain the company's profitability or the bottomline

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sun-Jun is a representative for a Chinese company that is based in Confucian culture. When Sun-Jun mentions to his staff that gu

marysya [2.9K]

Answer: relationships or connections the business has

Explanation:

From the question, we are informed that Sun-Jun is a representative for a Chinese company that is based in Confucian culture and that when Sun-Jun mentions to his staff that guanxi should be taken into consideration.

Guanxi means connection which brings about the facilitation of deals. In business, relationships are essential.

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3 years ago

You are considering an investment for which you require a 14 percent rate of return. the investment costs $61,900 and will produ

Goryan [66]

You are considering an investment for which you require a 14 percent rate of return. the investment costs $61,900 and will produce cash inflows of $26,000for three years.You should not accept this project based on its internal rate of return, because the IRR is 12.51 percent

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4 years ago

Which of the following is NOT considered to be one of the three primary functions that all organizations perform? A. research a

ra1l [238]

Answer: The correct answer is "A. research and development".

Research and development are <u>NOT</u> considered as one of the three primary functions that all organizations perform.

Explanation: The basic operating cycle of a company is buy-sell-collect-pay. In some cases, companies can produce the good they sell or directly re-sell it. This implies production, operation and marketing activities to increase sales and for an adequate control of these you need accounting.

Only in particular cases do companies engage in research and development, but it is not something basic.

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4 years ago

Market offerings are some combination of products, services, information, or experiences offered to a market to satisfy a need o

Rufina [12.5K]

Answer:

True

Explanation:

Market offerings can be defined as a company's complete offer to its customers and target market, including the product it sells, delivery, technical support, etc.

Market myopia happens when the company has an inward looking approach, the company wants to sell what they produce, not what consumers' need and want. This will eventually lead to business failure since the company will not be able to adapt to market changes, e.g. Nokia insisted on manufacturing regular cellphones instead of smartphones because it was the world leader in the manufacturing of regular cellphones.

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3 years ago

Farmer and Taylor formed a partnership with capital contributions of $250,000 and $300,000, respectively. Their partnership agre

Rama09 [41]

Answer:

Taylor's capital $57,500

To Income summary $25,000

To Farmer's capital $32,500

(Being the allocation of the net loss is recorded)

Explanation:

Before passing the journal entry we need to do the calculations which is shown below:

Since the net loss for the current year is $25,000

And, the amount receiver per year is $90,000

So , the total amount is

= $25,000 + $90,000

= $115,000

Now it is equally dividend i.e $57,500 each

So, the farmer amount credited by

= $90,000 - $57,500

= $32,500

And, the taylor account debited by $57,500

So, the journal entry is

Taylor's capital $57,500

To Income summary $25,000

To Farmer's capital $32,500

(Being the allocation of the net loss is recorded)

This is the answer but the same is not provided in the given options

3 0

3 years ago