You become broke cause you don't pay your bills on time or car notes that's why the economy is failing
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Answer: Note Receivable
Explanation:
A Note Receivable is a written document from a party promising to repay another party with interest on amounts borrowed in form of cash or otherwise thereby creating a debtor - creditor relationship between them.
When a promissory note is received from a customer in exchange for an accounts receivable it is a <em>Note Receivable</em> and the Payee being the creditor will record it as such.
Answer:
E
Explanation:
the current account of a country measures the value of the trade balance, transfers and the net income
the component of the current account includes
trade balance - it measures the value of the import and export of goods and services of a country.
net income - measures the value of the income received by a country's residents less the income paid to foreigners
transfers - it includes income sent home by a country's citizens working outside the country
Asset income - measures changes in the asset income
this transaction - China purchases $10 billion of United States government securities - would be included in the capital account
The owner of a business invested $5,000 in the business. Total assets and liabilities increase on the fundamental accounting equation.
<h3>What are assets ?</h3>
Financial accounting classifies as an asset any resource that a business or other economic organization owns or manages. Anything that has the potential to provide positive economic value qualifies. The ownership value that can be turned into cash is represented by assets.
<h3>What are liability ?</h3>
A liability is defined in financial accounting as the future economic advantages that an entity must forgo for other entities as a result of previous transactions or other previous events.
<h3>Difference between asset and liability </h3>
Any possessions that could possibly result in future financial gain are considered a company's assets. Your debts to other people are called liabilities.
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Answer: D. The neighbor, because obtaining financing was a condition precedent.
Explanation:
Even though it wasn't listed in the written contract, there was the condition precedent that the contract would not be binding unless funding was obtained. Condition precedent is a condition that must happen for a contract to become enforceable.
Funding was not obtained so the contract cannot be enforced. The neighbor would therefore prevail so long as the owner admits that there was indeed a condition precedent.
