Answer:
b. Accounts receivables (gross) is reduced
Explanation:
As we know that
The journal entry to record the bad debt expense is
Bad debt expense A/c Dr
To Allowance for doubtful debts
(Being allowance of uncollectible accounts are recorded)
By passing this journal entry, both bad debt expense and the allowance for doubtful debts which result in a decrease in the net income and the balance of account receivable but the gross of account receivable would remain the same.
Answer:
False.
Explanation:
A bank is said to be federally chartered when it is appropriately authorized and regulated by the federal government of a country with recourse to statutory laws but not the state government. Some examples of federally chartered banks are Wells Fargo Bank, Bank of England, Swiss National Bank, Citizen National Bank, Bank of Japan, PNC Bank, First National Bank, U.S. Bank, Reserve Bank of Australia, etc.
A credit union can be defined as a non-profit making financial cooperative that is typically controlled by its members (employees, church groups, labour unions etc) and it is saddled with the responsibility of providing financial services like the traditional banks.
Generally, the profit made from the amount of money that is being deposited by the members of a credit union are usually returned to the members as a form of better interest rates. Some examples of credit unions are SchoolsFirst Credit Union, New York University Federal Credit Union, Consumers Credit Union, etc.
Hence, federally chartered banks and credit unions are not run like businesses that are a profit i.e they are a non-profit business.
Answer: We have no legal responsibility but do have some ethical responsibility.
Explanation: As the owner of a casino we do not have any legal liability but as human and a part of society we do have to make sure that gambling in such casinos is not ruining the environment for the individuals living in it.
We have the responsibility towards the kids especially. We must make sure that kids stay away from such casinos as no one knows at an early age of what is right for them and what is not.
We can make rules about the maximum amount of which one can gamble and should monitor strictly of any other unethical conduct that is going on.
Answer:
A.
Explanation:
Your answer should be A.
I hope it helps! Have a great day!
bren~
