All categories

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.

You might be interested in

Nelson’s motto is “Go big, or go home.” Which type of investment would Nelson prefer? A. savings account B. speculative investme

il63 [147K]

Answer:speculative investment

Explanation:

just took the test.

5 0

3 years ago

Match the following:

asambeis [7]

Explanation:

1. If butter complements margarine for instance, and there occurs a sudden increase in the price of butter leading to lower demand, this would affect the demand for margarine negatively leading to a fall in the demand for margarine.

2. If this goods are substitutes the demand for butter will increase when the price of margarine rises.

This is because it is only natural for people to switch to the next best alternative (substitute) that fills the same purpose or needs.

3. Remember Ice cream and ice cream cones complementary goods; meaning the demand for one increases the demand for the other and vice versa.

4. If the price of ice cream increases, demand would also decrease for ice cream as consumers are usually sensitive to price.

This decrease in the demand for ice cream would also affect ice cream cones since they complement each other, leading to a decrease in the demand for ice cream cones.

5 0

3 years ago

Zipcar car rentals is an example of a type of innovation that is similar to product innovation except that this innovation relat

andrew-mc [135]

Zipcar car rentals is an example of a type of innovation that is similar to product innovation except that this innovation relates to services.

Product innovation is the introduction of a new or improved good or service. This improvements may be functional, technical and so on.

Service innovation is similar to product innovation except that this innovation relates to services.

Find out more at: brainly.com/question/17218280

6 0

2 years ago

Suppose that in an attempt to induce citizens to conserve energy, the government enacts regulations requiring all air conditione

Nana76 [90]

Answer:

(A) Because the regulation effectively reduced the price of cool air, consumers with sufficiently elastic demand might have bought substantially more of it.

Explanation:

If the demand for energy services remains constant, improving energy efficiency will reduce energy consumption and carbon emissions. However, many efficiency improvements do not reduce energy consumption by the amount provided by simple engineering models. This is because they make energy services cheaper and therefore increases the consumption of those services.

For example, since low-fuel vehicles make travel cheaper, consumers can choose to drive further, thus offsetting some of the possible energy savings. Similarly, an extensive historical analysis of improvements in technological efficiency has conclusively demonstrated that improvements in energy efficiency were almost always overcome by economic growth, which resulted in a net increase in resource use and associated contamination.

3 0

2 years ago

When the price of chai tea lattés is $5, maxine buys 20 per month. when the price is $4, she buys 30 per month. maxine's demand

nirvana33 [79]

Answer:

b. elastic, and her demand curve would be relatively flat.

Explanation:

he elasticity of demand is a term that describes the degree of responsiveness of demand due to changes in price. Elastic demand is when demand for a good or service is sensitive to changes in price. A small change in price results in a significant change in the quantity demanded.

Maxine has elastic demand for chai tea. A small decrease in the price of $1 ( 20 percent ) causes the demand to rise by 50 percent. The demand curve for an elastic product is relatively horizontal. It may be referred to as flat. The price is indicated on the Y-axis and the quantity of the X-axis. A small movement of the Y-axis big reaction on the X-axis tilting the demand curve to a horizontal shape.

4 0

3 years ago