All categories

3 years ago

Explain what ‘closing the ledger’ means

Business

1 answer:

Aneli [31]3 years ago

8 0

Explanation:

The purpose of the closing entry is to reset the temporary account balances to zero on the general ledger, the record-keeping system for a company's financial data. ... All revenue and expense accounts must end with a $0 balance because they are reported in defined periods and are not carried over into the future.

You might be interested in

Some managers belive that they have "seat of the pants" intuition and do not need project management tools. does that make sense

leonid [27]

Yes because u got to have tools to do a project

8 0

3 years ago

German and Japanese firms are viewed as having a _____ advantage in exporting compared to U.S. firms.

e-lub [12.9K]

Answer:

bigger is the correct answer.

Explanation:

4 0

2 years ago

A small country that uses the U.S. dollar as its currency is measuring its GDP for the current year. Personal consumption expend

statuscvo [17]

Answer:

$117,800

Explanation:

GDP formula is:

GDP= Consumption (C)+ Investment (I)+ Government expenditure ()+ Net exports (exports-imports)

Last year, C= $69,000 and it increased 10% (100%+10%=110%),

This year: C= $69,000*1.10= $75,900.

Last year: I= $18,000 and it decreased 5% (100%-5%=95%).

This year: I= $18,000*0,95= $17,100

Last year: G=$19,000 and it increased by 20% (100%+20%=120%)

This year: G= $ 19,000*1.20=$22,800

Last year: X-M= $2000 and it remained the same

This year: X-M= $2000

Current year´s GDP= $75,900+$17,100+$22,800+$2000= $117,800

5 0

2 years ago

Suppose all stocks in Cheyenne’s portfolio were equally weighted. Which of these stocks would contribute the least market risk t

Finger [1]

Answer:

Least Market Risk - Fitcom Corp. as it has the lowest beta.

Explanation:

According to the given table, as we can see that there are 4 types of stock, 4 investment, 4 beta, and 4 standard deviations. Now, as per the requirement of the question the least market risk to the portfolio of the stock is Fitcom Corp. as it has the lowest beta that is 0.50.

Therefore the right answer is Fitcom Corp.

7 0

3 years ago

What are the benefits of "inventory pooling"? Establishing pools of inventory at each supplier and customer locationsCentralizes

PolarNik [594]

Answer:

The benefits of Inventory Pooling includes:

centralizing inventory into fewer locations thus reducing safety stocks and the amount of inventory needed in the supply chain.
Pulling back inventory when firms have too much at retail level.

Explanation:

inventory pooling is an operational strategy used to increase efficiency in stock management and analysis.

It is a supply chain tool that consolidates multiple inventory locations into a single one.

It is a centralized system that helps with stock keeping. It makes projections easier and helps manage shortfalls that may arise due to demand uncertainty.

It is cost effective by reducing cost of employing more staff and reduces the percentage error due to the centralized portal.

By reducing operational costs, profit is maximized.

8 0

3 years ago