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2 years ago

Which of the following statements are true?

Business

1 answer:

kirza4 [7]2 years ago

6 0

Answer:

TRUE: A. Different companies will use different charts of accounts based on individual company need.

C. The general ledger contains all of the accounts that a company uses, along with detail of the balances in those accounts.

Explanation:

A. Different companies will use different charts of accounts based on individual company need.

A chart of accounts is the combination of all the accounts of an organization in an organized and structured model whose objective is to establish a codification so that there is a standardization of the company's financial information to assist the work of the accounting sector.

Therefore, each company will have a model chart of accounts referring to its activities and processes.

C. The general ledger contains all of the accounts that a company uses, along with detail of the balances in those accounts.

 The general ledger can be defined as the set of all accounts held in the organization in detail.

Through the information in the accounts, the organization is able to correctly separate each one by type and carry out the organizational financial statement.

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__________ is not a technology company but used technology to revamp the business process of renting movies.

zmey [24]

Answer:

Netflix

Explanation:

Netflix is a company that uses streaming service where viewers can watch varieties of documentaries, popular films etc on their network . This type of service enables users to access latest films, TV shows, offered by Netflix over the internet. Although users get to watch and enjoy these services through a paid subscription, there are quite unlimited films that can be watched and downloaded for offline viewing.

Unlike a conventional method where people can watch and download films, documentaries online, Netflix provides a platform that warehouses collections of films, documentaries, TV shows hence revamp the business methods of renting movies.

6 0

2 years ago

Frank age 63 is single and provided all of the support for his daughter Anna age 24 and her son Marvin age 6. Neither Anna nor M

allsm [11]

Frank cannot claim Anna or Marvin as a dependent.

Explanation:

Because Frank gives Anna and Marvin every support, support tests are straightforward.

Anna earns revenue in excess of $4200 and can not therefore be requested as dependent. In fact, Marvin does not stay with Frank and can not therefore be stated as dependent.

The income tax credit, EITC or EIC is a bonus to low- and moderate-income employers. To apply, you must fulfill certain criteria and file a tax report, even if you are not obliged to pay a bill. The level of tax you pay is lowered by the EITC and a refund is probable.

3 0

3 years ago

Which is not a reason for supporting ethical relativism?

raketka [301]

This is not the reason why not support ethical relativism; Ethical relativism holds that there is a right and wrong, even though we do not agree about what is right and wrong and If people disagree about some moral matter, their disagreement will always be due to their having different moral values.

4 0

3 years ago

Corporations report which of the following in a separate section of the income statement?A. cost of goods sold.B. income tax exp

Gemiola [76]

Answer:

B. Income Tax Expenses

Explanation:

The Purpose of the Income Statement in Financial Statement Preparation is to ascertain the profit or loss of a business entity for a particular year. Usually, the format is as follows:

1. Gross Profit= Sales- Cost of Goods sold(Opening Inventory + Purchases- Closing Inventory)

2. Net Profit/ Net Loss = Gross Profit + Other Revenues and Gains - Expenses for the period.

However, income tax expense is only calculated when the net profit has been ascertained. It is usally referred to as net income before tax. It is based on this figure, that the income tax expense is then calculated based on prevailing income tax percentage.

Every other part of the income statement covers a section, but all sections should be calculated and concluded before the income tax expense can be calculated and then subtracted to arrive at the final income tax.

5 0

2 years ago

Which of the following describes business-to-business (B2B) e-commerce purchases? Group of answer choices Customers bid on items

tigry1 [53]

Answer:

Pricing can vary for each customer.

Explanation:

Under the B2B, the manufacturer sells its products directly to other businesses such as wholesalers or retailers and not the end consumers.

Hence, pricing can vary for each customer in a business-to-business (B2B) e-commerce purchases because companies that are engaged in B2B are able to improve their performance and cut down the costs of procurement for goods and services.

Business to business (B2B) markets differ from Business to consumers (B2C) markets because salespeople personally call on business customers to a far greater extent than they do consumers.

3 0

3 years ago