Answer:
Sr. No Particulars Debit Credit
Land $ 65000
Profit & Loss Account $ 25,000
Corporation Stock $ 80,000
Cash $ 10,000
Explanation:
Recording of purchase of land for stock of $ 80,000 and cash $ 10,000 . As the value of land is $ 65,000 the loss is debited to the profit and loss account. the stock is recorded at the fair market value on the date.
Answer: Procedure
Explanation: The procedure component involves guidelines and steps to follow in other to convert the vast knowledge and information stored in databases into useful insight. The instructions required to analyze and process data are also embedded in the procedural component.
Answer: Most probably, true, as the foundation would qualify as an NGO, and its mission aligns with that of many other humanitarian relief organizations.
