The answer you’re looking for is OD hopes this helps !
Informal or indigenous bookkeeping system is defined as the system where a user makes only one entry to enter a business financial transaction. This is regarded as a “single
entry system”. The type of services they rovide include a daily summary of cash receipts and a monthly record of
receipts and expenses.
Answer:
The correct answer would be, Knowledge Worker. Edgar can be considered a Knowledge Worker.
Explanation:
A knowledge worker is a person who is skilled in handling and using the information.
So because Edgar is a Chef in a restaurant and he is also the kitchen manager, It shows his expertise in both culinary and restaurant management fields. He is expert in Cooking as a chef, and is well skilled in managing the kitchen as well. He is technically equipped with management skills in restaurant field. So Edgar is considered a Knowledge Worker.
Answer:
$ 30,000.00
Explanation:
The cost of warranty is expensed the same period the sale is made. Warranty can be estimated, and expensing them together with sale matches a sale and its relevant cost.
<u>In this case: </u>
Estimated warranty @ $15 dollar per unit sale
total unit sold =2000
Warranty amount = $15 x 2000
=$ 30,000.00
To be expensed when the sale is made
Answer:
The correct answer is C
Explanation:
Principle of Revenue recognition, is the one of the foremost and vital principle of accounting, which is also the cornerstone of the accrual accounting along with the matching principle.
Under this principle, the revenues are recognized or ackowledged when they are realized or earned, which is generally when the goods are transferred or the services are rendered, irrespective of when cash is received.
So, the rule which says revenue to be recognized when earned and measure the revenue amount equal to value of non- cash assets received from clients is known as revenue recognition principle.
