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2 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

1 answer:

just olya [345]2 years ago

3 0

Answer:

True

Explanation:

This is true

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Prepare the December 31 adjusting entries for the following transactions with JE explanations. 1. Fees accrued but not billed, $

disa [49]

Answer:

Adjusting Entries

Date Description Debit Credit

1. December 31 Fees Revenue $6,300

Account Receivable $6300

2. December 31 Supplies Expense $3,790

Supplies Inventory $3,790

3. December 31 Wages Expense $2,700

Wages Payable $2,700

4. December 31 Depreciation Expense $1,650

Accumulated Depreciation $1,650

December 31 Rent Expense $10,800

Prepaid Rent $10,800

Explanation:

Supplies Expense = $4,750 - $960 = $3,790

Rent expired term is considered as there is a prepaid rent balance of $10,800

3 0

2 years ago

When nations increase production in their area of _________________ and trade with each other, both sides can benefit.

Elenna [48]

Answer:

comparative advantage

Explanation:

Comparative advantage in finance is crucial for production because it helps nation to manufacture their goods with low opportunity cost compare to their co- partner in that production line.

Production which is an essential aspect in economics is a process of turning raw materials into finished goods are very crucial in each nation of the world and for economic process to be completed.

It should be noted that When nations increase production in their area of comparative advantage and trade with each other, both sides can benefit from it.

7 0

2 years ago

4 Select the correct answer. Which of these components is a part of the Central Processing Unit (CPU) of a computer?

scoundrel [369]

Answer:

Control unit

Explanation:

Is a part of the "Central Ptocessing Unit (CPU)" of a computar. It is considerado a a "heart of the CPU.

8 0

2 years ago

As demand for goods increased, cottage industries were not able to keep up. The _______ system developed to meet this growing ne

Papessa [141]

Answer;

The answer is factory system

Explanation:

5 0

3 years ago

The economy experiences an increase in the price level and a decrease in real domestic output. Which of the following is the lik

Veseljchak [2.6K]

Answer: Input Prices have increased.

Explanation:

When an Economy sees prices rising but at the same time productivity is falling, the likely cause of that is an increase in Input prices.

Input Prices are the prices of the raw materials and other goods needed to produce finished goods. If these prices should rise, it becomes more expensive for producers to produce and they will therefore reduce the amount of goods they produce. This reduction in Quantity leads to an increase win prices because according to the Law of Supply and Demand, if supply reduces and demand remains the same then prices must increase till a new equilibrium is reached.

For example, imagine a hypothetical Economy of Steel Makers. If the price of Iron changed from $5 to $10, producers who were producing 20 units of Steel will see their costs double and react by producing only 10 units of Steel to maintain cost margins thereby dropping Productivity.

The 20 units of Steel used to be sold in the market at $20 but now that the supply has dropped to 10 units, the price doubles to $40 to cater for this reduction in Quantity.

7 0

2 years ago