The 3 activities which are part of the function of accounting includes:
- Classifying financial transactions
- interpreting financial transactions
- Recording financial transactions
Accounting (<em>including bookkeeping</em>) refers to the process of recording, preparing, analyzing and interpreting financial information or statements for future purpose.
As regards the options, 3 activities which are part of the function of accounting includes:
- Classifying financial transactions
- interpreting financial transactions
- Recording financial transactions
In conclusion, the process of accounting helps to identifies, records, classifies and communicate the company's economic events to interested users.
Missing word includes <em>"1. prioritizing financial transactions 2. classifying financial transactions 3. planning financial transactions 4. interpreting financial transactions 5. recording financial transactions"</em>
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Answer: Cost plus contact
Explanation:
A cost-plus contract is a form of contract whereby the contractor is paid for all of its allowed expenses including additional payments in order to allow for a profit.
A cost plus contract is usually used when the quality, delivery time and performance is of more importance than the cost. In cost plus contract, the final cost may be smaller than the fixed cost because the contractors don't usually inflate price and also as a result of lesser price competition.
A cost price contract also gives more room for control and oversight over a contractors work and is also flexible which gives room for specification changes.
<span>student loans will offer a six month grace period after a student/ borrower leaves the school, interest on the loans will add to the cost of the loans on top of what you already owe</span>
Answer:
D. Any advantage that one firm has will be short-lived.
Explanation:
With the three firms all producing the same product with similar resources in their production and distribution of their products, any advantage that a firm has over the others if any would not last long at all. This is because each firm is using similar technique in the same location. Hence, there's nothing special about one of the firms over the others.
According to the given information, the supplies beginning balance as on Feb. 1 2016was $1400 and Supplies purchase during the February month were total $12,000 and the supplies ending balance as, on Feb. 29, 2016, is $1,500. It means the supplies used is = 1400+12000-1500 = $11,900.
Adjusting journal entry at the end of the month shall be as follows:
Date: Feb. 29, 2016:
Supplies Expense Debit $11,900
Supplies Credit $11,900