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marta [7]
3 years ago
7

As the full-time bookkeeper, your job is to make any corrections to the general ledger accounts. Each correction needs the reaso

n for the change and the effect on each account, whether it is an increase or decrease. For the third time this month, a co-worker has recorded a cash receipt twice and wants you to record a correcting entry that will reverse the mistakes. The correcting entry will record a credit to the Cash account and a debit to the Sales account. Your co-worker has offered to buy you dinner for fixing this mistake.
Required:
What should you investigate before making a decision about the correcting entry?
Business
1 answer:
igomit [66]3 years ago
3 0

Answer: See explanation

Explanation:

Based on the information given, we are informed that the co-worker has recorded a cash receipt twice and wants the full time bookkeeper to record a correcting entry that will reverse the mistakes.

Before making a decision about the correcting entry, it is necessary to check the entry and cross check the balances for sales and cash. One has to also check the receipts and every other necessary details in order to make sure that the transaction is genuine and not fraudulent.

After the through check, if the person is sure and confident that everything is okay, then the correcting entry can be made.

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During the 1990s, one of the dominant firms in the U.S. cigarette industry would raise prices once or twice a year by about 50 c
ahrayia [7]

Answer: price leadership

         

Explanation: Price leadership is a circumstance where one business, typically the dominant one in its market, sets prices that its rivals follow closely.

This business is typically the one with the minimum cost of production, thus being able to outperform the prices charged by any rival who tries to set their prices below the price range of the market leader.

Rivals could increase prices than the cost leader, but this would likely lead to lower share of the market unless rivals were able to distinguish their goods adequately.

Hence from the above we can conclude that the given case depicts price leadership strategy.

3 0
3 years ago
Erosion can best be explained as the:
Tems11 [23]

Answer:

A. loss of current sales due to a new project being implemented.

Explanation:

In business, erosion takes place when a new product or project competes with another product or project from the came company. This "internal" competition reduces the revenues and benefits from existing products or projects. It is basically a form of business cannibalization, where the left arm takes away from the right arm. E.g. newer smartphone models decrease the sales revenue from existing (older) models.

8 0
3 years ago
George is paid for holidays, sick days, vacation, personal days, and jury duty. these are his _____. paid leave benefits insuran
MariettaO [177]
I think the correct answer from the choices listed above is the first option. <span>George is paid for holidays, sick days, vacation, personal days, and jury duty. These are his paid leave benefits. Hope this answers the question. Have a nice day.</span>
4 0
3 years ago
Read 2 more answers
A principal real estate broker is responsible to review and initial all documents written by his associated real estate brokers
slamgirl [31]

Answer:

The correct answer is <em>7 banking days from the date the document was accepted, rejected or withdrawn</em>.

Explanation:

A real estate agent is a natural person who is dedicated to providing mediation, advice and management services in real estate transactions related to: the sale, rental, exchange or transfer of real estate and their corresponding rights, including the constitution of these rights.

In each country, the activity is governed by a particular law, so far there is no law that regulates real estate issues worldwide, despite the fact that many real estate agents carry out transactions in countries other than their headquarters.

8 0
3 years ago
Younger employees also are more likely to use the Internet and social media to accomplish their tasks. This is an example of the
DaniilM [7]

Answer: Expectation and norms

                                   

Explanation: In simple words, expectation refers to the believe that something would happen in the future in a certain way. While norms refers to something that is standard and very probable ion nature.

It is automatically assumed that young employees will use more technology as their generation is the when where the technology gained its pace. Thus, the assumption in the statement shows expectations and norms.

5 0
3 years ago
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