The statement "changes in the technological environment create increases in world wide in all sectors of the economy, creating exciting challenges for future leaders" is true
What is technological change?
Technological changes refer to changes in the level of technological and telecommunication medium as well as gadgets in the world as a whole.
It can seen as the improvements we have witnessed in global trade where a businessman does not need to leave his country before holding a crucial meeting with a business partner or counterpart in another country, which means they could get connected via the internet, specifically using zoom as the medium of interaction.
The fact that current technological changes have outperformed previous options means that the current one is also a way creating a challenge where future technological changes are able to outshine them, in other words, the pace of change needs to be kept constant in order to full unlock the potentials lurking within the technology
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Answer:
$5,220
Explanation:
The computation of the bad debt expense for the period end adjustment is shown below:
= Allowance of bad debts + credit balance of Allowance for Doubtful Accounts
where,
Allowance of bad debts = 2% × $249,000 = $4,980
And, the credit balance of Allowance for Doubtful Accounts is $240
Now put these values to the above formula
So, the value would equal to
= $4,980 + $240
= $5,220
The journal entry is shown below:
Bad debt expense A/c Dr $5,220
To Allowance for Doubtful Accounts $5,220
(Being bad debt is recorded)
A sole proprietorship firm is a firm which can be opened by an individual and the the owner of the firm has an unlimited liability towards the firm that means the owner enjoys unlimited profit of the firm as well as the loss of the firm.
The advantage of the sole proprietor firm is that it can be set up very easily with low or very few government rules. So the correct answer is B.