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3 years ago

Which of the following statements is CORRECT?

Business

1 answer:

bogdanovich [222]3 years ago

4 0

Answer:

B) The first, and perhaps the most critical, step in forecasting financial requirements is to forecast future sales

Explanation:

Forecasting can be regarded as initial step in process of financial planning.

It should be noted that The first, and perhaps the most critical, step in forecasting financial requirements is to forecast future sales

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Euphrasia, a mixed open economy, was severely affected by a recession that almost paralyzed its service sector. The Euphrasian

Flura [38]

Answer:

E) Oil imports declined as countries exporting oil reduced supply.

Explanation:

Oil is extremely important for industrialized nations and since Euphrasia is a mixed open economy, we can assume that it is an industrialized nation. Oil has become the most important energy source for more than 60 years and is the raw material for manufacturing plastic.

During the 1970s and early 1980s the American economy was shattered by an increase in the price of foreign oil and a decrease in its domestic production levels. The importance of oil is also why so many modern wars have been fought over oil production and reserves.

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3 years ago

Analysis of Receivables Method At the end of the current year, Accounts Receivable has a balance of $420,000; Allowance for Doub

Fiesta28 [93]

Answer and Explanation:

The computation is shown below:

a. Amount of adjusting entry for uncollectible accounts

= Estimated balance of Allowance for Doubtful Accounts + debit balance

= $16,400 + $4,000

= $20,400

b. Adjusted balances

For account receivable

= account receivable

= $420,000

For allowance for doubtful debts

= Estimated amount

= $16,400

For bad debts

= AMount of adjusting entry

= $20,400

c. Net realizable value

= Account receivable balance - estimated balance of Allowance for Doubtful Accounts

= $420,000 - $16,400

= $403,600

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3 years ago

Amendments involving changes to irb approved protocols do not need prior irb approval if:

yaroslaw [1]

If the changes need to be done immediately in order to benefit the health of the client, then IRB approval is not required. The IRB, which stands for Institutional Review Board, is a select group of people that review and regulate biomedical research in which human beings are involved. This group is regulated by the FDA.

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3 years ago

According to Adam Smith and other classical economists, why is the economic theory supporting market economies (or capitalism) m

emmasim [6.3K]

According to Adam Smith and other classical economists, why is the economic theory supporting market economies (or capitalism) much more realistic than theories supporting command economies? ... Americans prefer to have the market, rather than the government, to manage their economy.

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3 years ago

Prepare journal entries for Buffalo to record (1) the sale on March 10, 2020, (2) the return on March 25, 2020, and (3) any adju

Nataly_w [17]

Answer:

1) Debit Account Receivable/Bank Account - Sales Amount

Credit Sales Account - Sales amount

Credit Inventory Account - Cost of the product

Debit Cost of Sales - Cost of the product

2) Debit Sales Account - Sales Amount

Credit Cost of Sales - cost of the product

Credit Account Receivable/ Bank - Refund Amount

Debit Inventory Account- Cost of the product

a)Any increase in returns over estimate

Debit Sales Account - Difference in sales Value

Credit Cost of Sales - Difference in cost of the product

Credit Account Receivable/ Bank - Difference Refund Amount

Debit Inventory Account- Difference in Cost of the product

b) Any Decrease in returns over estimate

Debit Sales Account - Decrease in Sales Amount

Credit Cost of Sales - Decrease in cost of the product

Credit Account Receivable/ Bank - Decrease in refund Amount

Debit Inventory Account- Decrease Cost of the product

Explanation:

8 0

3 years ago

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