Answer:
ALL
Explanation:
All of the following is true about a "credit"
I. It is part of the double-entry procedure that keeps the accounting equation in balance because, double entry is made up of 'debit' and 'credit' as the principle states: 'credit the giver and debit the receiver' hence, in order for the accounting equation to be balanced, every debit must have a corresponding credit
II. It represents a decrease to assets because just like the principle states: 'credit the giver and debit the receiver', it therefore implies that a 'credit' entry will decrease the balance on the account because it is giving.
III. It represents an increase to liabilities because liability accounts already have credit balances by nature, therefore a 'credit' entry will be increasing the already existing credit balance.
IV. It is on the right side of a T-account. This is a true statement because in T-account construction the debit is on the left and the credit on the right.
Answer:
b) mission statement
Explanation:
A mission statement is a formal description that captures all what a company is set out to do in achieving their vision. It is a brief summary of a company’s philosophy, goals and objectives.
A mission statement is what gives a clear direction to a business, as the purpose of a business is well clarified. A mission statement which answers the basic question of “Why does your business exist” helps in increasing employee engagement as well as ensuring the vision of the company is actualized.
The statement of Dell as highlighted in the question above is part of Dell’s mission statement, as it tells why the business exist.
Answer:
$20,000
Explanation:
If the Rubber Division was dropped at the beginning of last year, the financial advantage (disadvantage) to the company for the year would have been: the segment's margin of $20,000
The president considering the elimination of this division is not advisable. As long as none of the allocated common corporate fixed costs could be avoided, If the Rubber Division was dropped at the beginning of last year, the financial disadvantage to the company for the year would have been it's contributed margin that went towards off-setting corporate fixed costs.
Furthermore, if this segment is closed, it would affect the Cork division because it would be reporting a lower net operating income of $90,000 as a result of bearing all the corporate costs alone.
