Answer:
The answers are:
Depreciation Expense 1,000
Accumulated Depreciation - Equipment 1,000
Explanation:
The oven will be depreciated in five years, so the depreciation expense will be $1,000 per year. Depreciation expense account must be debited $1,000 (increasing expense accounts are debited) while Accumulated depreciation - Equipment should be credited $1,000 (decreasing assets accounts are credited).
Answer:
True
Explanation:
This is true specially for large projects. Imagine if only one single person or one single team had to make all the decisions regarding setting up a new factory in a different state or different country. They would be saturated with different problems and it would simply not go well. Instead, if the project had diverse teams and each one would be responsible for dealing with specific issues and then reporting back to one single coordinator, then it would be much easier to deal with problems. No matter how good the project manager is, or how well the project was designed and executed, problems and issues will always happen.
Answer:
(a) that the traditional format organised cost into cost of goods sold and selling and administrative expenses while contribution format organizes cost into variables and fixed cost
These undistributed profits are refereed to as <u>"RETAINED EARNINGS".</u>
Retained earnings are the benefits that an organization has earned to date, less any profits or different disseminations paid to financial specialists. This sum is balanced at whatever point there is a section to the bookkeeping records that impacts an income or cost account. An extensive held profit balance suggests a fiscally solid association.
The Retained earnings balance or gathered shortage balance is accounted for in the investors' value segment of an organization's asset report.
The high-income economies of the world contain approximately <u>12%</u> of the world’s population and produce and consume <u>60% </u>of the world’s GDP.
Gross Domestic Product is a complete measure of U.S. economic activity. GDP measures the value of the very last goods and offerings produced in the u.s. (without double counting the intermediate items and services used up to provide them).
Gross domestic product is an economic measure of the market price of all of the very last goods and offerings produced in a selected term through international locations. Due to its complicated and subjective nature, this degree is regularly revised before being taken into consideration as a reliable indicator.
GDP may be calculated by means of adding up all the money spent by using consumers, agencies, and the authorities in a given duration. It may additionally be calculated by means of adding up all the money received by all of the contributors to the economy. In either case, the wide variety is an estimate of "nominal GDP."
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