Answer:
The answer is: a
Explanation:
In accounting for financial transactions, there are generally accepted standards used in practice. These standards are based on accounting principles that are designed to result in more consistent and comparable financial statements. One of these principles is the matching principle, where revenues recognised are matched with expenses incurred to generate that revenue.
In line with this principle, revenues should be matched with expenses at the time which the transaction, in this case the sale, occurs. An estimate of the amount receivable that is deemed noncollectable at the time of the sale is recognised as a bad debt expense and an adjustment is made in the allowance for doubtful debts account* in the period which the sale occurs.
*this account increases on the credit side and effectively reduces the accounts receivable amount
Answer:
Ben Lingo's Net Worth Statement:
Assets:
Cash $82
Savings $150
Car $2,000
Inventory $1,200
Total Assets = $3,432
Liabilities:
Car loan $1,500
Credit Union loan $80
Total Liabilities = $1,580
Net Worth = Total Assets - Total Liabilities
= $3,432 - $1,580
= $1,852
Answer:
The answer is D. Income statement
Explanation:
total cost to be accounted for
Answer: Option 3.
<u>Explanation:</u>
In Economics, total cost is the all out monetary expense of creation and is comprised of variable cost, which fluctuates as indicated by the amount of a decent delivered and incorporates sources of info, for example, labor and raw material.
Add your fixed expenses to your variable expenses to get your all out expense. Your all out average cost for basic items on your spending limit is the aggregate sum of cash you went through over a one month time span. The equation for discovering this is basically fixed costs + variable expenses = total cost.