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Andrew writes a check for $1,299 which is the medium of exchange.
What is the way of transaction ?
- A sale is a completed agreement between a buyer and a dealer to change goods, services, or fiscal means in return for plutocrats.
- The term is also generally used in commercial accounts. As a business secretary, this plain description can get tricky.
- A sale may be recorded by a company before or later depending on whether it uses an addendum account or cash account.
Here,
Andrew can easily determine that the price of the computer is more than the price of the vacation = Unit of Account
Andrew has $1,574 in his checking account
= Store of value
Andrew writes a check for $1,299
= Medium of exchange
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Answer:
d. The $1,500,000 is not taxable because Detroit settled the case
Explanation:
The $1,500,000 is not taxable because Detroit settled the case, Compensation received of damaging Goodwill is not taxable.
Answer:
Debiting in this case means to add to the inventory. Therefore, crediting means that inventory was used up when closing inventory.
Explanation:
A debit is an accounting entry that either increases an asset or expense account, or decreases a liability or equity account. ... A credit is an accounting entry that either increases a liability or equity account, or decreases an asset or expense account.
