One of the most common mistakes new business owners make is C. setting unrealistic goals
As a new business owner, you have to determine your goal for your business which is achievable.
When preparing the statement of owner's equity, the beginning capital balance can always be found in the general ledger.
- A general ledger is a book keeping ledger which shows the set of numbered accounts a business uses to keep track of its financial transactions and to prepare financial reports.
- Each account is a unique record summarizing a specific type of asset, liability, equity, revenue or expense.
- The general ledger consists of all the individual accounts needed to record the assets, liabilities, equity, revenue, expense, gain, and loss transactions of a business. In most cases, detailed transactions are recorded directly in these general ledger accounts.
- It helps you look at the bigger picture. Accounts including assets (fixed and current), liabilities, revenues, expenses, gains, and losses.
Thus the correct answer is option D.
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Answer: True
Explanation:
Variable selling and administrative expenses increase with the number of sales so in order to get them, one needs to multiply the number of sales by the variable and administrative expenses.
This also goes for the budgeted variable selling expenses. To find out these costs, multiply the expected variable and admin expenses by the budgeted number of sales. The amount you get will show the amount of variable expenses to budget based on the sales you budgeted.
Direct deposit typically refers to your <u>employer</u> sending your<u> paycheck </u>electronically to your bank account.
<h3>What is direct deposit?</h3>
Direct deposit can be defined as the way in which your employer directly deposit your salary into your bank account electronically.
Most companies or organization tend to make use of direct deposit system to pay their employee salary or paycheck instead of giving them cash or using check .
Inconclusion Direct deposit typically refers to your <u>employer</u> sending your<u> paycheck </u>electronically to your bank account.
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