All categories

3 years ago

Identify which basic principle of accounting is best described in each item below.

Business

1 answer:

adelina 88 [10]3 years ago

4 0

Answer:

The Matching Principle

Explanation:

The Matching Principle of accounting holds that revenues should be matched with expenses. Hence the name.

This is to say, that revenues should only be recognized when the associated expenses with those revenues have been spent.

For example, in numeral a), we can see that Norfolk Southern Corporation recieved cash in advance, but it only recognized revenue once it had performed the services associated with that cash collection.

You might be interested in

Soccer's World Cup is promoted aggressively to both companies and fans. This is an example of marketing a(n) ________. A. event

Bas_tet [7]

Answer:

a. marketing event

Explanation:

Marketing event -

It refers to the process of marketing , where the goods or services are marketed via some promotional events , is referred to as marketing event .

The method involves organizing and conducting for the promotional purpose .

In this method , there is direct interaction with the representative of the particular brand .

Hence , from the given scenario of the question ,

The correct option is a. marketing event .

7 0

3 years ago

+ An e-commerce company spends a lot of money on product replacement, as customers often complain about the products they receiv

mojhsa [17]

Answer: Guaranteeing the quality of products so that the errors are completely eliminated instead of errors being identified and fixed.

Explanation:An e-commerce company spends a lot of money on product replacement, as customers often complain about the products they receive. The company has to replace the products delivered with better products. The company needs to guarantee that the quality of products errors are completely eliminated instead of errors being identified and fixed. By doing so , the cost will eliminated going forward .

Which core value of total quality management can assist the e-commerce company in tackling the problem of product replacements?

3 0

2 years ago

For a conventional, conforming loan, the borrower is making a down payment of 12%. The seller wishes to contribute to closing co

maxonik [38]

In such a scenario, the most the seller can contribute to the closing costs is up to<u> 6%. </u>

<h3>When can seller contribute to closing costs?</h3>

The borrower must make a down payment of an amount between 10% and 24.9%.
The loan must be conforming.

As the down payment of 12% falls within the 10% and 24.9% range, the seller can make a contribution of up to 6% should they please.

In conclusion, they can contribute 6%.

Find out more on conventional loans at brainly.com/question/1130069.

5 0

2 years ago

During the purchase phase for a new car, Larry creates a _____ that includes Chrysler 300 and Toyota Avalon, but does not includ

Novay_Z [31]

Answer:

Consideration chart.

Hope this helps!

8 0

3 years ago

Which TWO of the following statements are TRUE when a broker-dealer executes a principal transaction?

tigry1 [53]

Answer:

C) II and III

Act as a dealer
Charge a mark-up or a mark-down

Explanation:

Dealers can purchase and sell securities on their own accounts, this is called position trading. When they carry on this type of transactions, they charge markups instead of commissions.

Brokers act like agents, and they can only arrange a transaction between clients and they charge a commission for their work.

6 0

3 years ago