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3 years ago

Which statement about subsidiary ledger is most accurate

2 answers:

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The accounts receivable subsidiary ledger is a book of accounts that provides supporting detail for Accounts Receivable.

DochEvi [55]3 years ago

4 0

Answer: A subsidiary ledger account is a group of accounts in the sense that when these group of accounts are closely observed, the total combined balance equals that of a specific general ledger account.

Explanation:

The subsidiary ledger contains details of a specific general ledger. It acts as an intermediary set of account that connect to the general ledger. Examples of subsidiary (sub) ledger account are account payable ledger, account receivable ledger, fixed assets ledger, inventory ledgers and purchases ledger. Auditors can trace transactions from a subsidiary ledger account to a specific general ledger account and also to the financial statement to be assured that proper transactions of accounts are taken and recorded.

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Select all the items that describe a free market economy.

Feliz [49]

The items that describe a free market economy are :
- Freedom for consumers and producers
- Distribution by price
- Motivated by self-interest

Hope this helps

4 0

3 years ago

Read 2 more answers

Which of the following statements about the price elasticity of demand is correct The absolute value of the elasticity of demand

notsponge [240]

Answer:

Demand is more elastic in the long run than it is in the short run

Explanation:

Elasticity of demand measures the responsiveness of quantity demanded to changes in price.

Demand is more elastic in the long run than it is in the short run because in the long run consumers have more time to search for suitable substitutes.

When the absolute value of elasticity of demand is less than one, demand is inelastic.

When the absolute value of elasticity of demand is equal to one, demand is unitary.

When the absolute value of elasticity of demand is greater than one, demand is elastic.

Demand is less elastic the smaller the percentage of the consumer's budget the item takes up.

The elasticity of demand for a specific brand of good doesn't translate into the elasticity of demand for the good.

I hope my answer helps you

4 0

3 years ago

Frozen Gold is a fast-growing chain of ice cream shops. It has acquired an edge over its competitors through its ability to prov

irina [24]

Customers will have a variety of flavors to choose from

3 0

3 years ago

When the interest rate on a bond is ________ the equilibrium interest rate, in the bond market there is excess ________ and t

Talja [164]

Answer:

The correct answer here is A) above, demand , fall.

Explanation:

Whenever the interest rate on bond is more or above the equilibrium's rate of interest , then this means there is excess demand for the bond in the market and since this excess demand for bond will lead to decrease in the interest rate of the bond, while if the situation was opposite ( excess supply in market ) the interest rate would have risen.

8 0

3 years ago

A firm has earnings before interest and taxes of $27,130, net income of $16,220, and taxes of $5,450 for the year. While the fir

grin007 [14]

Answer:

The correct answer is e. -$4,940.

Explanation:

This problem requires us to calculate the amount of the cash flow to creditors. The cash flow to creditor means all payment made to creditors in form of interest payment or principal payment. The amount borrowed is deducted from it. The detail calculation is given below.

Interest = Earning before interest and taxes - Net income - Taxes

Interest = 27,130 - 16,220 - 5,450

Interest = $ 5,460

Cash flow to creditors = 31,600 + 5,460 - 42,000 = -$ 4,940

6 0

3 years ago