Answer:
Every organization needs records of its activities to find the cause of problems and proper solutions. Information systems come in handy when it comes to storing operational data, communication records, documents, and revision histories. Manual data storage will cost the company lots of time, especially when it comes to searching for specific data.
Explanation:
A monetary system where the value of monetary units is set by the specified quantity of an item is commodity money.
Explanation:
A commodity currency could be a name given to certain currencies that co-move with the globe costs of primary trade goods product, because of these countries' significant reliance on the export of certain raw materials for financial gain. It comprises goods that have worth in themselves (intrinsic worth) additionally as a value in their use as cash. For instance, mediums of exchange for commodity money includes gold, silver, copper etc.
The typical relationship between retained earnings and net income/loss,tha Retained income represent the part of the net income of our organisation that remains after dividends have been paid on our shareholders.
The profits assertion is finished, the income discern from the time period is transferred to retained income inside the stockholder's fairness segment of the balance sheet. A net loss reduces retained profits; a net advantage will increase retained income.
The budgeting procedure lets an enterprise plan and prepare its budgets for a hard and fast length. It entails reviewing past budgets, identifying and forecasting sales for the coming period, and assigning amounts to spend on a enterprise's various prices.Feb 18, 2021
There are numerous extraordinary strategies to budgeting for businesses however those 4 kinds of budgets are the maximum generally used: incremental budgets, pastime-primarily based budgets, fee proposition budgets, and zero-primarily based budgets
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Answer:
debit to Allowance for Doubtful Accounts and a credit to Accounts Receivable.
Explanation:
In accounting the allowance method is used to recognise and post portions of account recievable that is uncollectible. It involves an adjusting entry that changes the balance sheet figure for account receivable.
For example in the given instance a customer balance of $200, from Hollis Co., is uncollectible. The allowance method is used to pass the following entry:
debit to Allowance for Doubtful Accounts and a credit to Accounts Receivable of $200