Inventory and property, plant, and equipment are shown as an expense on the income statement and on the balance sheet, respectively.
What is a balance sheet?
A balance sheet is a financial statement that lists an organization's assets, liabilities, and shareholder equity. One of the three important financial statements a company's evaluation will focus on is the balance sheet.
The income statement and balance sheet both directly and indirectly refer to the expenses. You can better understand how an expense is reflected overall by often reading a company's income statement and balance sheet.
As a result, option (b) is correct.
Learn more about on balance sheet, here:
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The correct answer is D. Something of value that can be bought, sold, or traded
Explanation:
The word "commodity" is used in economics to refer to any good or product that has an economic value and due to this, can be part of the market. This means any commodity can be traded, sold, or bought. Moreover, this concept is mainly applied to raw materials such as coal, timber, or wheat that can be used to make other manufactured products such as plastics, furniture, or flour. According to this, the option that correctly describes the word commodity is option D.
Answer:
The answer is D.
Explanation:
The chronological order of Accounting System is:
Collecting of information
Classifying of information
Summarizing of information
Reporting a business financial
and operating information.
You can see all the options are in the chronological order of accounting system. Therefore, all of the above is correct.
Answer:
Fabiola pays 27.0963 dollars for 8.79877 gallons of fuel.
Step-by-step explanation:
We are given that,
Fabiola pays 357 pesos for 40 liters of fuel.
It is required to convert the amount in dollars.
Since, we know that,
1 peso = 0.0759 dollars
So, 357 pesos = 0.0759 × 357 = 27.0963 dollars
Moreover,
1 liter = 0.219969 gallons
So, 40 liters = 0.219969 × 40 = 8.79877 gallons
Thus, we get that,
Fabiola pays 27.0963 dollars for 8.79877 gallons of fuel.
Answer:
B. The company's brand equity
Explanation:
Intangible assets lack a physical presence. They are assets that cannot be touched or seen. Intangible assets are contrasted by tangible assets, which include land, buildings, vehicles, plants, and machinery. Examples of intangible assets include patent brand names, trademarks, or and copyright.
Intangible assets have a use-life of more than one year. They can be created or acquired, just like tangible assets. From the list in the case, The company's cash reserves, company's plant and equipment, and company headquarters are tangible assets because they have a physical presence.
