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Pie
3 years ago
12

I wanna know about debit and credit full explanation ​

Business
2 answers:
BigorU [14]3 years ago
7 0

Answer:

Explanation:

A debit is an entry made in an account. It either increases an asset or expense account or decreases equity, liability, or revenue accounts.

A credit is an entry  alsom made in an account. It either increases equity, liability, or revenue accounts or decreases an asset or expense account.

mihalych1998 [28]3 years ago
5 0

Answer:

CREDIT vs. DEBIT

Explanation:

<em><u>Debit</u></em> :- A debit is an accounting entry that results in either an increase in assets or a decrease in liabilities on a company's balance sheet ... For instance , if a firm takes out a loan to purchase equipment , it would debit fixed assets and at the same time credit a liabilities account , depending on the nature of the loan .

<em><u>Credit</u></em> :- Generally defined as a contractual agreement in which a borrower receives something of value now and agrees to repay the lender at a later date—generally with interest .

<em>Main </em><em><u>Difference</u></em><em><u> </u></em>:- When you use a debit card, the funds for the amount of your purchase are taken from your checking account in almost real time . When you use a credit card , the amount will be charged to your line of credit , meaning you will pay the bill at a later date , which also gives you more time to pay .

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______ costs are administrative costs related to determining an order quantity, preparing purchase invoices, inspecting goods re
Rus_ich [418]

Answer: Ordering

Explanation:

Ordering cost tends to look at the cost required to order a particular item, from the initiation of the process till it's being inspected on it's arrival till it's moved to the store room. The first aspect is making enquires for the item, this us followed by bidding for the item, purchasing it, inspection and delivering to it's temporary location.

4 0
3 years ago
The following is not a distinguishing characteristic of a life estate.
CaHeK987 [17]

Answer:

The correct answer is letter "B": Holders of future interest own only a reversionary interest.

Explanation:

A life estate is a grant provided by the owner of a property to another individual for his or her lifetime. That individual -<em>called the life tenant</em>, is right to use the property at will bound only to waste. The distinguishing characteristics of the life estate imply that <em>holders of future own revisionary or remainder interest</em>, and that <em>the estate could be created by agreement from private parties or by law under prescribed scenarios</em>.

6 0
4 years ago
The production possibilities curve illustrates the basic principle that: Group of answer choices A) an economy will automaticall
ICE Princess25 [194]

Answer:

The correct answer is option C.

Explanation:

The production possibility curve shows the maximum possible bundle of two goods that can be produced using all the available resources and state of technology.

Since the resources are scarce, when we produce more of one good, we need to sacrifice more and more of the other good.

If all the resources in the economy are fully employed then it is not possible to increase the production of one good without decreasing the production of the other.

The economy can thus produce either on the production possibility curve or below it but not above it.

3 0
4 years ago
Taunton's is an all-equity firm that has 155,500 shares of stock outstanding. The CFO is considering borrowing $287,000 at 7 per
Stels [109]

Answer:

a. 1,821,571

Explanation:

Repurchase of shares = 24,500 shares

Share price per share = $287,000/24,500 = $11.7143

Value of the firm = 155,500*11.7143 = $1,821,571

4 0
3 years ago
Nini, a police officer, wants to search the offices of Operational Business Corporation. She asks Judge Pearl to issue a warrant
Triss [41]

Answer:

B. Probable Cause

Explanation:

In law, probable cause refers to the believe on reasonable grounds that an individual or a group of persons have committed a crime. Courts only finds probable cause when there are reasonable basis on which accusations are formed. It is the requirement in criminal law that police have adequate reason to arrest someone, conduct a search, or seize property relating to an alleged crime. The only way a warrant can be issued from Judge Pearl to Officer Nini is if Nini is able to find probable cause that Operational business corporation is committing or have committed a crime.

5 0
3 years ago
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