Answer:
d. the suspense account
Explanation:
Financial accounting is an accounting technique used for analyzing, summarizing and reporting of financial transactions like sales costs, purchase costs, payables and receivables of an organization using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP).
Financial statements can be defined as a document used for the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors. These includes balance sheet, statement of retained earnings and income statement.
In Financial accounting, if a trial balance totals do not agree, the difference must be entered in the suspense account
Answer:
credit
Explanation:
an agreement between a buyer and the seller that payment for product or service will be received at some later due date
Answer:
The point of present perfect (e.g. has witnessed)is that it deemphasizes the time at which the event occured and even the number of times it occured,and emphasizes merely that there was at least one occurrence before the present.
Answer: Create incentives to expand output when resource prices are unresponsive to price-level changes
Explanation:
High price levels indeed create incentives to expand output if resource prices are unresponsive to price changes.
What this means is that, when price levels rise, suppliers tend to take advantage of this rise by producing more if, their INPUTS DON'T increase in price as well.
For example, price of steel goes up by $5 but the price of Iron Ore remains the same.
Suppliers and Producers will produce more steel because they can make a high profit because iron ore prices have not changed.
Answer: their gross income
Explanation:
Since Mohammad and Fatima have to total the income they earned in the past year and include all of their investment dividends and any income they earned from their jobs. This is their gross income.
Gross income for an individual is made up of the income that is gotten from wages and salary and other ways the individual makes income like dividends, interest, pensions, and rental income.