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kondaur [170]
3 years ago
6

Each time a sale is​ recorded, two journal entries are also recorded to account for estimated sales returns.

Business
1 answer:
Lemur [1.5K]3 years ago
4 0

Answer:

The given statement is False

Explanation:

The sale is recorded at the time when the company sells is products and services to the customer and for that the journal entry is to be passed

Now if there is a return of goods that are sold by the company to the customers, the journal entry is to be recorded for sales returns

So the entry is recorded for that good only i.e. return

Therefore there is no need to record two entries

Hence, the given statement is false

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Explanation:

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3 0
3 years ago
Which of the following events directly involves the Federal Reserve?
navik [9.2K]

The correct option is D. You withdraw cash from your bank account which is an event that directly involves the Federal Reserve.

The Fed removes limits on house loans for borrowers who have student loan debt in an effort to spur economic development.

<h3>What events led up to the Federal Reserve law?</h3>

The frail banking system was devastated by bank runs following a particularly bad panic in 1907, which finally prompted Congress to draft the Federal Reserve Act in 1913. In the beginning, the Federal Reserve System was established to deal with these banking panics.

The Federal Reserve carries out general duties such as managing the country's monetary policy, supervising banking institutions, observing and defending consumer credit rights, preserving the stability of the financial system, and offering financial services to the federal government of the United States.

Thus, D is the right answer. You take money out of your bank account, which is a situation where the Federal Reserve is involved directly.

Learn more about Federal Reserve here:

brainly.com/question/17097530

#SPJ2

3 0
1 year ago
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5 0
4 years ago
What is the incremental percentage paid on income taxes called?
Westkost [7]

What is the incremental percentage paid on income taxes called The marginal tax rate

For better understanding, lets explain marginal tax rate

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  • Marginal tax rate = Change in taxes due/change in taxable income

from the above, we can therefore say that the answer What is the incremental percentage paid on income taxes called marginal tax rate

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7 0
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