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3 years ago

An expense that has been incurred but not yet paid is called a(n) ________.

1 answer:

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An expense that has been incurred but not yet paid is called an accrued expense.
An expense is categorized into many types according their property, like discount expense, depreciation expense, prepaid expense etc
Salaries payable and interest payable are the examples of Accrued expense, salaries payable are for one accounting period, they are not paid until the next.

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As owner of a retail franchise food store, Mary Grey purchases supplies based on specials advertised nationally throughout the f

Artemon [7]

Answer: Sharing information across the organisation

Explanation: In the given case, Mary grey is the owner of a retail store hence it is her duty to know all the goods that are offered by her store. However she did not knew the special goods when the customers asked for it.

This shows that the franchise company is not performing effectively in the area of sharing information as all the stakeholders do not know all the relevant information.

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3 years ago

Ten years ago, Cary Company issued $1,500,000 of 7 percent, 10-year bonds at a price of 95. On the maturity date of January 2, a

vampirchik [111]

Answer:

Debit Bonds Payable for $1,500,000

Credit Cash for $1,500,000.

Explanation:

Although this bonds were issued at a discount, but the Discount on Bonds Payable account will have zero balance on the day of maturity because of the entry that has been made on each interest payment date.

Therefore, the necessary journal entry for January 2, 2019 to complete is as follows:

Debit Bonds Payable for $1,500,000

Credit Cash for $1,500,000

This entry will appear as follows:

Date Name of Account DR ($) CR ($)

02 Jan '19 Bond payable 1,500,000

Cash 1,500,000

(To record retirement of 10-year bonds at maturity.)

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3 years ago

In November 2016, General Motors produced a car that was delivered to a local dealership in December 2016. The auto was sold to

horsena [70]

Answer:

It will be counted as investment in 2016 and negative investment in 2017.

Explanation:

National income refers to the total value of a country's final output of all new goods and services produced in one year. There are various ways of measuring national income, e.g. GDP, GNP, etc

Therefore, following national income accounting practices, the car would be counted as part of the investments and GDP of 2016, and negative investment in 2017, because that was the year in which it was produced.

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2 years ago

Which of the following statements about comparative advertising is true? Comparative advertisements now constitute over 90% of a

alexira [117]

Answer:

Comparative advertisements need legal support for their claims and must not misrepresent competing products/brands

Explanation:

Comparative advertisement is also called advertising war. A competitor is named in the advertisement and reasons are given why the competitor's product is inferior to the one being advertised.

In this type of advertisement to prevent adverse legal action the company needs to carry out extensive research to provide legal backing for their claims.

Firms must also not misrepresent the competitor's product as this can lead to legal action.

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3 years ago

A(n) _____ is something a person wants to get out of a job or that brings them job satisfaction.

Pie

Work value because it is part of a job

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2 years ago

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An expense that has been incurred but not yet paid is called​ a(n) ________.

An expense that has been incurred but not yet paid is called a(n) ________.