1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
kakasveta [241]
3 years ago
11

2-1.3 Which of the following statements about data storage is (are) true? A chart of accounts is a list of the numbers assigned

to each general ledger account. A general ledger contains detailed level data for every asset, liability, equity, revenue, and expense account. A general journal is used to record a large number of repetitive transactions. A subsidiary ledger contains detailed data for any general ledger account with many individual subaccounts. e)A specialized journal is used to record infrequent or non-routine transactions.
Business
2 answers:
Nadusha1986 [10]3 years ago
8 0

Answer:

A general ledger contains detailed level data for every asset . equity , revenue and expense account

Explanation:

A general ledger is an accounting record that holds information of every other account in an organization towards the preparation of the financial statements.

It also makes the overall analysis of the transactions in the other books of account to be easier

It also follow the principle of double entry as financial information are imported from the other sub ledgers.

monitta3 years ago
4 0

Answer:

  • A chart of accounts is a list of the numbers assigned to each general ledger account.
  • A subsidiary ledger contains detailed data for any general ledger account with many individual subaccounts.

Explanation:

A chart of accounts contains a list of all the numbers assigned to balance sheet and income statement accounts. The account numbers allow transaction data to be coded, classified, and entered into the proper accounts.

Subsidiary ledger s are used to record details information for a general ledger account that contains many subaccounts, like accounts receivable (at last 1 subaccount per client), inventory (at least 1 subaccount per product) and accounts payable (at least 1 subaccount per creditor).

You might be interested in
The __________ component deals with the management and control of the ways entities are granted access to resources.
Mars2501 [29]

Answer:

Access management

Explanation:

The "access management" component deals with the management and control of the ways entities are granted access to resources.

Access management regulates the ways and methods entities are granted access to resources. It determines which user is able to access the resources.

6 0
3 years ago
< Back to Assignment Attempts: Average: / 1 2. Introduction to the foreign-currency exchange market In an open economy, why i
Fofino [41]

Answer: Net capital outflow is determined by the real interest rate, not the real exchange rate

Explanation:

In the foreign-currency market, the supply of dollars is not dependent on the real exchange rate and so the supply curve will be vertical to indicate this independence by showing inelasticity which means that it is unaffected by the variables in the foreign-currency market.

Supply of dollars is rather dependent on the real interest rate.

This is because dollars get into the world economy (supply of dollars) as a result of investments by Americans into markets abroad in the form of Net Capital Outflow. If American real interest rate is low, Americans will invest in other countries with a higher rate of return thereby pumping more dollars into the world economy.

7 0
2 years ago
American General Company experienced the following accounting events during 2014:
12345 [234]

Answer:

1.  Operating Activities (OA)

2. Financing Activities (FA)

3. Financing Activities (FA)

4. Investing Activities (IA)

5. Operating Activities (OA)

6.  Operating Activities (OA)

7. Investing Activities (IA)

8. Financing Activities (FA)

9. Not applicable (NA)

10. Financing Activities (FA)

Explanation:

Statement of cash flows is one of the three major financial statements. The statement analyses the cash generated and cash expended by an entity in a given period. The statement collates the analysis under three categories

1. Operating Activities

2.Investing Activities

3.Financing Activities

Operating activities comprise of cash generated and expended by the entity on its normal business operation during the period. Examples of this are cash received from customers, cash paid to suppliers, rent paid to landlord, cash expenses paid etc.

Investing activities consist of cash activities involving acquisition and disposal of assets and investment. Examples of such are cash receipt from sales of equipment, cash spent on purchase of investment securities.

Financing activities are cash activities involving the entity and provider of capital, equity owner and debt holder. Example of such activities are cash generated from issuance of bond, cash dividend paid to equity owner.

4 0
3 years ago
In 2004, Jamal lost his job as a shipbuilder. His shipyard never reopened, and his very specialized skills as a shipbuilder were
MrMuchimi

The best way to describe Jamal's unemployment would be <u>Structural</u>

7 0
3 years ago
In large organizations, planning usually takes place at three levels of management. discuss the three levels and steps in the pl
jonny [76]
The three levels of planning is the corporate, business and functional planning
.3 Levels:
1. Corporate level strategy illustrates decisions that affect an entire company.It specifies whichindustry an organization should compete and why?
2. Business level strategy specifies the methods or tactics a business or organization will use togain a competitive advantage over their competition.
3. Function level strategy is the action plan of how each division within a company willpositively add to increase the productivity of goods and services.
3 steps in planning process:
1. Determining the Organization’s Mission and Goals - Throughan analysis of information gathered during environmentalanalysis, managers can determine the direction in which anorganization should move. 2. Formulating Strategy (TacticalPlan) – Analyze the current situation and develop strategies.Strategy formulation requires a series of steps performed insequential order. The steps must be taken in order because they<span>build upon one another. 3. Implementing Strategy</span>
7 0
2 years ago
Other questions:
  • I need these answers to these
    13·2 answers
  • In reviewing the firms whose stocks comprise the Dow Jones Industrial Average, we discover: a) There is an even mix between big
    5·1 answer
  • State farm Commercial "she shed" Who burned down the she-shed
    12·2 answers
  • Before the year​ began, Venus Manufacturing estimated that manufacturing overhead for the year would be $ 175 comma 900 and that
    13·1 answer
  • Marit Brunsell deposited $80,000 at Bank of America at 12% interest compounded quarterly. What is the effective rate (APY)? (Do
    7·1 answer
  • Why has the financial crisis raised the average of people retiring?​
    8·1 answer
  • Presented below is information related to Lexington Real Estate Agency.
    15·1 answer
  • When a parent uses the equity method throughout the year to account for its investment in an acquired subsidiary, which of the f
    15·1 answer
  • The MC = P rule applies
    14·1 answer
  • Time lines can be constructed for annuities where the payments occur at either the beginning or the end of the periods.
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!