Answer:
of changes in the elements of the accounting equation. A useful way to conceptualize the accounting equation is that the left side (assets), "is what the Owner has" and the right side (liabilities + owner's equity) "is the method by which the Owner obtained the asset"
Explanation:
A inventor is someone who made something and entrepreneur is someone who start there own business
Answer:
Elitist
Explanation:
Elitist view of the interest group influence in policy making believe that the society is essentially ruled by a small elite group that control the laws from behind the scene, even within a democratic country.
In United States for example,
Rich business owners have the power to form interest groups and give huge amount of 'Donations' to a certain political candidate. When that specific candidate is elected to the government that candidate will focus on the effort to pass a law that will be beneficial for the donators. This is one way they could control the government from behind the scene.
Answer:
Cheque for $93, recorded by the company as $39
Explanation:
The goal of a reconciliation statement is to ascertain the differences between the banks records and the depositor’s records and make accounting changes as deemed appropriate. There is a general flow that is used to make the correcting entries:
1. The process flow starts with the bank’s ending cash balance
2. Add any deposits made by the company to the bank that are in transit
3. Deduct any cheques that are uncleared by the bank
4. Add or deduct any other differences available as necessary
5. In the company bank records, once again start with the ending balance
6. Add interests earned
7. Deduct any bank service fees, penalties and NSF (Non-Sufficient Funds) cheques.
8. Add or deduct any other differences available as necessary
At the end of this process, it is likely that both accounts would be equal and tally.
The above transaction mentioned is an error by the company in recording the transaction where it has overstated the cash book balance. Hence, the difference of $54 ($93 - $39) would be deducted in the company’s books in order to help tally with the bank’s balance.