Answer:
1. The three steps in the accounting process are identification, recording, and examination. (F)
2. The accounting process includes the bookkeeping function. (T)
3. Managerial accounting provides reports to help investors and creditors evaluate a company. (F)
4. The two most common types of external users are investors and creditors. (T)
5. Internal users include human resources managers. (T)
Explanation:
The accounting system provides managers with information necessary for daily operations and also for long-term planning. The development of the most relevant information for specific business decisions and the interpretation of that information is called Management Accounting.
Which investment type typically carries the least risk?"Saving Account".
Answer:
c.only that the debit dollar amounts equal the credit dollar amounts
Explanation:
For recording the business transactions, the first step is journalizing through recording. After that we post these to their respective account which we called ledger accounts.
The motive of recording the business transactions is to equate the debit and credit sections as per the double accounting through which the financial statements should be verified, and correct in all aspects.
Answer: (E) Harvesting
Explanation:
The harvesting is one of the type of marketing strategy that retain the goods and the services in the production line and also reduces the market cost or spending on the specific products.
The harvesting strategy is also known as the exist strategy in the market and the main objective of the harvesting strategy is that it maximize the product profits and also has the opportunity for trading in an organization for distributing the shares.
Therefore, Option (E) is correct.
Answer: C. Additional Paid-in Capital -Common $4.720,000.
Explanation:
Based on the information given in the question, the journal entry to record the stock dividend would go thus:
Debit: Retained earnings = 80000 × $60 = $4,800,000
Credit: Common stock = 80000 × $1 = $80000
Credit: Additional paid in capital- Common stock = 80,000 × $59 = $4,720,000
(To record share dividend)
Therefore, the journal entry to record the stock dividend would include a credit to Additional Paid-in Capital -Common $4.720,000
