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RUDIKE [14]
3 years ago
9

There is significant interaction between cash receipt transactions and accounts receivable because _______. a misstatement of ca

sh receipts will result in a misstatement of interest payments the settlement of an account receivable will result in a decrease to the cash account the creation of an account receivable indicates receipt of cash a misstatement of cash receipts will result in a misstatement of accounts receivable.
Business
1 answer:
zlopas [31]3 years ago
3 0

Answer:

a misstatement of cash receipts will result in a misstatement of accounts receivable.

Explanation:

A financial statement is a written report that quantitatively describes a firm's financial health. Under the financial statements is a cash-flow statement, which is used to record the cash inflow and cash equivalents leaving a business firm.

Basically, financial statements are formally written records of the business and financial activities of a business entity or organization.

There are four (4) main types of financial statements and these are;

1. Balance sheet.

2. Cash flow statement.

3. Income statement.

4. Statement of changes in equity.

A current asset can be defined as all of the assets that are being owned by a company or business entity and are expected to be converted into their cash equivalent through sales or use within a period of one year of its date on the organization's balance sheet.

Some examples of current assets are account receivables, marketable securities, cash equivalent, etc.

In Financial accounting, there exist a significant level of interaction between cash receipt transactions and accounts receivable because a misstatement of cash receipts will result in a misstatement of accounts receivable, which gives information about legally enforceable monetary claims that are to be recovered by a company from a customer who is yet to make payment.

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andriy [413]

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In economics, demand is the amount of a good that customers are inclined and capable of purchase at diverse prices at some point of a given time. the connection between price and quantity demand is likewise referred to as the demand curve

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4 0
2 years ago
Jus de Fruit Co. has set up for automated production of its new bottled Triple Berry Colada. Six samples were taken during the f
Sauron [17]

The X bar chart will allow the team to monitor the central tendency of the process although the process will not be in control.

<h3>What is the X bar chart?</h3>

This refers to a Shewhart control chart that are used to monitor the arithmetic means of successive samples of constant size.

Hence, the X bar chart will allow the OM team to monitor the central tendency of the process although the process will not be in control.

Therefore, the Option B is correct.

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4 0
2 years ago
With milk sales sagging of late, The Milk Processor Education Program (MPEP) decided to move on from the famous "Got Milk" ad sl
aniked [119]

Answer:

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Explanation:

5 0
3 years ago
Which of the following is a reason advertising can be economically wasteful? Advertising provides consumers with price and quali
babymother [125]

Answer:

The most effective advertising is very expensive and, therefore, wasteful.

Explanation:

In order for something to be considered economically wasteful it must use and dispose money carelessly.

Therefore options:

  • Advertising provides consumers with price and quality information about products.
  • Advertising manipulates people's tastes and can reduce competition.

Do not apply since the options do not consider the costs of advertisement.

The only option that considers the cost of advertisement is: The most effective advertising is very expensive and, therefore, wasteful. It refers to the high costs of effective advertisement, and it implies that the money is not used carefully.

5 0
3 years ago
On August 1, Greene Company purchased merchandise inventory on account with a list price of $25,000 and credit terms of 2/10, n/
Alekssandra [29.7K]

Answer:

August 1, merchandise purchased on account 2/10, n/30

Dr Merchandise inventory 25,000

    Cr Accounts payable 25,000

Explanation:

If Greene paid within the discount period, the journal entry to record the payment would be:

August 2-11, payment of accounts payable

Dr Accounts payable 25,000

    Cr Cash 24,500

    Cr Purchase discounts 500

If Greene didn't paid within the discount period, the journal entry to record the payment would be:

August 20, payment of accounts payable

Dr Accounts payable 25,000

    Cr Cash 25,000

5 0
3 years ago
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