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3 years ago

When should an Accountant user use the Write Off tool in QuickBooks Online?

Business

1 answer:

givi [52]3 years ago

7 0

Answer:

A. When a client has outstanding invoices that will not be paid

Explanation:

QuickBooks is an accounting application that was developed by Intuit. It is aimed at providing easy to understand accounting services to small and medium scale business owners.

The write off function on QuickBooks is used to reduce or cancel the amount on unpaid receivables, unpaid loans, or losses such as on stored inventory.

When a write off is done it reduces the amount in an asset account while simultaneously debiting a liability account.

So when a client has outstanding invoices that will not be paid, they can be written off

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If the contribution margin is not sufficient to cover fixed expenses: a. total profit equals total expenses. b. a net operating

erik [133]

Answer:

Option b. a net operating loss occurs.

Explanation:

contribution margin is simply known to be that portion of sales revenue that is yet to be consumed by variable costs and so is an addition to covering the fixed costs. The higher the contribution margin ratio, the more smaller or fewer the units that will need to be manufactured to become profitable. In short, it is sales revenue minus fixed expenses.

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3 years ago

In the context of the external environment of a firm, which of the following statements is true of environmental scanning? A. Ma

Ludmilka [50]

Answer: A. Managers scan their firm's environment to reduce uncertainty.

Explanation: In the context of the external environment of a firm, managers scan their firm's environment to reduce uncertainty. In doing so, they stay up to date on important factors in their industry which helps to reduce uncertainty. Environmental scanning simply involves searching for cues, important happenings, events, issues etc. that might affect an organization either positively or negatively.

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3 years ago

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Martha was promised a 10% raise if she wins a contract with the city government. Martha could use the money to pay off some debt

Vlad1618 [11]

Answer:

The answer is expectancy.

Explanation:

Expectancy theory is a concept developed by Victor H. Vroom in 1964, where he postulated, that the strength an individual has in terms of his or her motivation to do an action, would appear when three components are satisfied to a certain value: expectancy, instrumentality, and valence. The question above is relevant to the expectancy component, which is detailed as the belief that an individual has regarding their efforts would result in the individual choosing to perform an action. In the case of Martha, she wasn’t sure that her efforts in trying to win the contract would lead to her 10% raise (outcome, a component of instrumentality), and thus, she decided not to try.

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3 years ago

Before government approves a merger, companies must prove that the merger would

Jlenok [28]

I think the correct answer from the choices listed above is option D. Before government approves a merger, companies must prove that the merger would lower the number of competitors in the market. Hope this answers the question. Have a nice day.

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3 years ago

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Coca-Cola uses a process cost accounting system and a weighted-average cost flow assumption. The department adds materials at th

Naddik [55]

Answer:

Explanation:

Opening units 25000

Started 75000

100000

Transffered 70000

Closing 30000

we will draw the table using the weighted average method through that we will be able to identify equivellent production units and cost per unit with respect to material and conversion cost.

cost opening current Total complete Wip equivalent Cost

head cost Units p.unit

Material 80,000 190,000 270,000 70,000 30,000 100,000 2.70

C.cost 13,000 137,100 150,100 70,000 12,000 82,000 1.83

4.53

Complete 70,000 4.53 317,134

Closing Wip

Material 30,000 2.70 81,000

Labour 12,000 1.83 21,966

102,966

Total Cost 420,100

in the table Closing wip units related to Conversion cost represent 40% completion.

opening wip CC units 70% have been completed in the current which are included in complete units i.e 70000 units

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3 years ago