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3 years ago

According to the basic double entry principle of accounting, we

Business

1 answer:

Vlad1618 [11]3 years ago

8 0

Answer:

D. Any of the above, depending on the transactions

Explanation:

The double entry principle simply means that any accounting transaction has two records: one credit, and one debit, and it depends on the nature of the transaction, and of the accounts involved which specific value is credited and which one is debited.

For example, if a firm purchases 100$ of office supplies with cash, the credited account is cash, because cash is reduced by $100, while the office supplies account is debited by the same value.

If a firm sells 100$ of office supplies instead, the office supplies inventory is credited for this value, while the same amount of cash is debited for this same amount.

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You bake a cake for a friend's party, and the friend pays you for it. This makes you a _____________. (Select the best answer.)

storchak [24]

Correct Answer:
Producer

Explanation:
Consumer is the one who buys the product and uses it. In this case consumer will be the friend.

Producer is the one who makes, builds or manufactures something and sell it to someone. According to the given example, if I make a cake and my friend buys the cake from me, I am the Producer.

Purchaser is the one who purchases the product. So the friend will also be a purchaser in this case.

Commodity is the raw material or the basic goods that can be sold.

So, the best answer to this question is producer.

8 0

3 years ago

Customer relationship management (CRM) helps ________. A. firms monitor and minimize employee turnover B. customers manage infor

MrMuchimi

Answer:

C. Firms manage customer touch points to maximize customer loyalty

Explanation:

Customer relationship management(CRM) entails technology used by businesses to interact with their customers in order to concertize their loyalty to the business. CRM is not used for existing customers alone. It is also used to communicate with potential customers, lure them in and turn them to customers.

The major objective of CRM is to retain customers confidence in the brand and equally profit from their interaction with the company.

So option c is correct because CRM helps firms customer touch points to maximize customer loyalty

4 0

3 years ago

What document is a roadmap to help the facility executives reach the facility's goals?

ad-work [718]

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4 0

3 years ago

Kirk Furniture factors $800000 of receivables to Sulu Factors, Inc. Sulu Factors assesses a 4% service charge on the amount of r

Simora [160]

Answer:

Explanation:

The journal entry is shown below:

Cash A/c Dr $768,000

Service Charge Expense A/c $32,000

To Accounts Receivable A/c $800,000

(Being the cash is received and the remaining balance is debited to the cash account )

The computation of the service charge expense is shown below:

= Accounts Receivable × service charge percentage

= $800,000 × 4%

= $32,000

6 0

3 years ago

A publisher for a promising new novel figures fixed costs (overhead, advances, promotion, copy editing, typesetting, and so

alisha [4.7K]

Answer:

5,409 books

Explanation:

to calculate break even point in units we can use the following formula:

break even point in units = total fixed costs / contribution margin per unit

total fixed costs = $53,000
contribution margin per unit = sales price - variable costs = $12 - $2.20 = $9.80

break even point in units = $53,000 / $9,80 = 5,408.16 ≈ 5,409 books

in $, that would equal = 5,409 books x $12 per book = $64,908

5 0

3 years ago

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