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Mashcka [7]
3 years ago
6

A financial statement is a summary of all the financial transactions that have occurred over a particular period. Also financial

statements indicate a firm's financial health and stability, and are key factors in management decision making.
a. True
b. False
Business
1 answer:
just olya [345]3 years ago
3 0

Answer:

True

Explanation:

This is true

You might be interested in
What are the 3 important reasons to reconcile bank and credit card as a set date ​
rodikova [14]

Answer:

1) To verify transactions have the correct date assigned to them. 2) To verify that an account balance is within its credit limit. 3) To verify that all transactions have been recorded for the period.

Explanation:

6 0
3 years ago
A company purchased $2,300 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $450 worth of merchandise. On
Aleksandr [31]

Answer:

Dr Accounts payable 1850

Cr Merchandise inventory $37

Cr Cash $1813

Explanation:

Preparation of the journal entry to record the payment on July 12 Using the gross method,

JOURNAL ENTRY

Jul-12

Dr Accounts payable ($2300-450) 1850

Cr Merchandise inventory ($1850*2%) $37

Cr Cash $1813

($1850-$37)

(Being entry recorded for payment to supplier)

7 0
3 years ago
A _________ specializes in developing plans and recommendations that meet the software and system needs of an organization.
Gwar [14]

A person that develop plans as well as making recommendations so that software and system needs can be met in an organization is systems analyst.

  • systems analyst can be regarded as a person that utilize his experience in analysis and design techniques to make recommendation in term of needs of the organization.

  • This could be in Tech. industry such as in software and others.

Therefore, systems analyst is correct.

Learn more:

brainly.com/question/9349989?referrer=searchResults

5 0
2 years ago
In assessing whether the improvement in advertising sales can properly be attributed to the reorganization, it would be most hel
Nookie1986 [14]

Answer:

The question is incomplete, please see complete question below:

Following several years of declining advertising sales, the Greenville Times reorganized its advertising sales force two years ago. Before the reorganization, the sales force was organized geographically, with some sales representatives concentrating on city-center businesses and others, on different outlying regions. The reorganization attempted to increase the sales representatives' knowledge of clients' businesses by having each sales representative deal with only one type of industry or of retailing. After the reorganization, advertising sales increased.

In assessing whether the improvement in advertising sales can properly be attributed to the reorganization, it would be helpful to find out each of the following EXCEPT:

A.Two years ago, what proportion of the Greenville Times' total revenue was generated by advertising sales?

B.Has the circulation of the Greenville Times increased substantially in the last two years?

C.Has there been a substantial turnover in personnel in the advertising sales force over the last two years?

D.Before the reorganization, had sales representatives found it difficult to keep up with relevant developments in all types of businesses to which they are assigned?

E.Has the economy in Greenville and the surrounding regions been growing rapidly over the last two years?

The correct answer is

<em>A.Two years ago, what proportion of the Greenville Times' total revenue was generated by advertising sales? </em>

Explanation:

The  proportion of the Total Revenue (TR) generated by advertising sales is of no significance. Our objective is to find out if there was an improvement in advertising sales that can  properly be attributed to the reorganization.

4 0
3 years ago
Standahl Air uses two measures of activity, flights and passengers, in the cost formulas in its budgets and performance reports.
avanturin [10]

Answer:

$335,428

Explanation:

The computation of the plane operating cost is shown below:

Plane Operating Cost = Fixed cost + (Variable cost per unit × quantity) + (Variable cost per unit × quantity)

= $41,490 + ( $2,839 × 101 flights) + ($23 × 313 passengers)

= $41,490 + $286,739 + $7,199

= $335,428

We only considered the planned activity as we have to compute the plane operating cost for the planning budget

8 0
3 years ago
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