Answer:
$5,000
Explanation:
Under the accrual accounting method, revenue is recognized and recorded in the books once the recognition criteria is met i.e once the goods or service has been delivered.
Under this system as well expenses are recorded once incurred.
As such, the time of cash payment does not affect the recognition of revenue. When revenue is earned and cash is yet to be paid, the entries required are debit accounts receivable and credit revenue.
On payment of cash, the entries are posted between cash and accounts receivables.
Insurance is a social and merit good as it makes financially risk averse people better off. It can help protect a business or a person from financial loss, liabilities or instability in the case of an owner or business partner's death. The benefit is administered by a central organization such as a government agency, private business, or not-for-profit entity.
Answer:
-2, 4 and -8
Explanation:
Given the nth term of a GP expressed as;
When n = 1
when n = 2
when n = 3
Hence the first three terms of the sequence are -2, 4 and -8
Answer:
These two are cash equivalents:
Money market funds
Three-month Treasury bills
Because they represent short-term investments that a company makes with the goal of getting rid of any excess cash that would otherwise be left unused while it is losing value because of inflation.
In other words, the main goal of investments in money market funds and three-month treasury bills, is to prevent cash from losing value due to inflation, and because of that, those investments are considered cash equivalents.
