1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
vitfil [10]
3 years ago
7

True/False

Business
1 answer:
alexgriva [62]3 years ago
3 0

Answer:

True

Explanation:

Revenue accounts are accounts were entries of the sales of products as well as the revenue generated by firm or company are properly recorded.

Expense accounts are accounts where that show us the expenses generated by a firm or company. Such expenses are the things the company spends money on which could be purchase of raw materials, payment of labour, repairs of machineries e.t.c.

An accounting period is a duration of time where accounts in a firm or company are balanced and closed for that period.

Revenue and expense accounts must be closed out because their balances apply to only one accounting

period.

You might be interested in
When president obama was elected, the u.s. economy was in trouble, and has slid into a recession. consumer spending was low and
scoundrel [369]

Answer: Keynesian Economic Theory

Explanation: The policy adopted by the President was to cut back taxes and increase government spending on road, bridges and schools. This policy of the government is called the expansionary fiscal policy which is used to combat an economy suffering from recession. The Keynesian theory also supports the argument that when an economy is suffering from recession, economic output is influenced by aggregate demand. Thus, the government and use its fiscal policy tools to bring the economy out of recession. It also supports that the Fed can also use its monetary policy to bring the economy out of recession. But since here taxes and government spending are uses, we can say that Obama was a proponent of Keynesian Economic theory.

6 0
3 years ago
A change in quantity supplied of a product is the result of a change in
jekas [21]
Demand supply and market equilibrium will have many changes due to change in the quantity of a supplied product.
5 0
3 years ago
While traveling on a commercial bus line, a passenger was injured when some luggage fell on him. As required by applicable state
Nonamiya [84]

Answer: See explanation

Explanation:

In a situation whereby the attorney of the passenger tried resolving the dispute in good faith, then the bus company must be ordered by the court to produce the report as well as the payment of reasonable cost that was incurred in making the motion.

It should however be noted that such cost may not be awarded when the movant had filed the motion before obtaining the disclosure in good faith. Also, the cost with be given when the nondisclosure response of the opposing party was justified.

7 0
3 years ago
Which type of portfolio might a young investor who is not afraid of risk choose?
Nana76 [90]
D) A portfolio with a high percentage of stocks, the higher the percentage rate the higher the risk is to lose money
5 0
3 years ago
An advantage of the _____ costing method is that the cost of goods sold approximates its current cost.
Komok [63]

Answer:

weighted average

Explanation:

An advantage of the weighted average costing method is that the cost of goods sold approximates its current cost. This is mainly due to the fact that the cost of each unit is made equal to the same cost of all units that are currently available for sale during that extended period of business. Therefore approximating its total current cost.

8 0
3 years ago
Other questions:
  • Rowland & Sons Air Transport Service, Inc., has been in operation for three years. The following transactions occurred in Fe
    8·1 answer
  • RajDee Furniture Company (RFC) buys and sells office furniture. The company buys chairs from a manufacturer for $40 per unit. Or
    7·2 answers
  • For which market structure do economists have the least precise model of price​ determination?
    12·1 answer
  • A bussiness reports profits when ___ are greater than___.
    8·1 answer
  • Grasping a dilemma by the horns means:
    14·2 answers
  • Sam and Ann Hoyt filed a joint federal income tax return for the calendar year 2019. Among the Hoyts’ cash receipts during 2019
    10·1 answer
  • Using the CAPM, compute the cost of equity capital for the lodging division at the target leverage ratio for the division. Expla
    6·1 answer
  • Which component of consumption has a negative or indirect relationship with consumption?
    9·1 answer
  • "Clothing maker The Gap states that its purpose as an organization is to "create emotional connections with customers around the
    10·1 answer
  • Which of the following is a characteristic of an oligopoly market structure? a. Many firms b. Price equals marginal revenue c. S
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!