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sergeinik [125]
3 years ago
13

Why it is important to prepare a bank reconciliation statement at the end of each month​

Business
1 answer:
AysviL [449]3 years ago
5 0

Explanation:

The purpose of preparing a Bank Reconciliation Statement is to detect any discrepancies between the accounting records of the entity and the bank besides those due to normal timing differences. Such discrepancies might exist due to an error on the part of the company or the bank.

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Historical Art is a new business. During its first year of operations, credit sales were $50,000 and collections from credit sal
Harrizon [31]

Answer:

C. 1,500

Explanation:

Credit Sales x 3%

$50,000 x 0.03 = $1,500

8 0
3 years ago
What type of consideration does the proposed insured offer to an insurance company?
tigry1 [53]

Answer:

the payment of the insurance premiums

Explanation:

Consideration in contract law refers to an exchange of something of value, e.g. I pay $5 in exchange for a hamburger.

In insurance contracts, consideration provided by the insured refers to paying the insurance premium. Consideration provided by the insurance company is the promise to pay in case of a covered loss.

7 0
3 years ago
During a contractionary phase of the business cycle, which of the following most likely occurs?
Zielflug [23.3K]
more tax revenues are remitted
6 0
3 years ago
Read 2 more answers
I was paid $200 in advance for some hair coloring I will do in January he tells me that's a liability that doesn't make any sens
raketka [301]

Answer:

That is correct this is a liability

Explanation:

That is correct this is a liability. That is because a liability refers to being legally responsible for something. In this scenario, since they paid you $200 for hair coloring then you owe the client that. Meaning that you are legally responsible to provide hair coloring services to the client and until you do that you are liable.

7 0
3 years ago
Debra notes that Theo Chocolate has started holding its own operations to the same IMO standards of fair trade to which it holds
slamgirl [31]

Answer:

The correct answer is letter "A": Ethical leadership.

Explanation:

Ethical leadership is the set of managerial practices that executives use to give an example to their subordinates and promote good values among the organization. This is typically achieved by promoting fair treatment among workers and social awareness with the external environment of the firm.

In the example, <em>Theo Chocolate started to follow the International Maritime Organization (IMO) standards that promote the safety and security of international shipping and forbid marine pollution from ships</em>.

8 0
3 years ago
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