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3 years ago

True or false: many small businesses fail every year

Business

2 answers:

tatuchka [14]3 years ago

7 0

Answer:

True

Explanation:

20 percent of small businesses fail within the first year

Xelga [282]3 years ago

6 0

Answer:

According to data from the U.S. Bureau of Labor Statistics, about 20% of U.S. small businesses fail within the first year. By the end of their fifth year, roughly 50% have faltered. After 10 years, only around a third of businesses have survived. Surprisingly, business failure rates are fairly consistent.

Explanation:

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In 1990, Johnson Company purchased a building for $170,000. In 2020, a real estate professional says the building has a fair val

Julli [10]

Answer:

$170,000.00

Explanation:

The amount of $170,000.00 will still be recorded as the value of the building, before considering accumulated depreciation.

Fair value of $1,000,000.00 or selling price of $900,000.00 does not affect the original value of the building in the company's balance sheet.

4 0

3 years ago

For accounting information to be relevant, the information should ______. (Select all that apply.)

USPshnik [31]

Answer:

A and B

Explanation:

The relevance or conformity is the concept that the information generated by the accounting system influences the decision maker to make a decision. The concept may include the content and / or timeliness of information that can influence decision making. In particular, the relevance of the information provided to users is thought to be faster. This impact can be a confirmation of a reader's previous decision (for example, investing in a company) or making a new decision (such as investing in a company). Here are some examples of how communication is used in accounting:

A company auditor decides to expedite the closing of the month so that it can publish its financial statements within three days instead of the old three-week standard. This increases the speed of receiving financial reports from various internal and external parties, and increases the relevance of the information they receive.

The Industrial Engineering Manager is considering installing a new, higher capacity machine in the manufacturing sector. If the sales department publishes a new forecast showing a decline in sales, the engineering manager may not need to buy such a high capacity machine.

One company is considering another company. If the acquired company discloses that it has not been pre-registered and is liable, it is due to the buyer's decision in relation to the purchase price, which the buyer will extend the purchase offer, and is willing to pay.

One company had a strong quarter; These are the decisions to provide creditors with improved results, or to increase or increase the amount of credit granted to the company.

7 0

3 years ago

If the price of breakfast pastries falls, what happens in the market for bakers?

jeka57 [31]

When the price of goods and services fall, there is a decline in the real GDP, and bakers experience a point in the business cycle referred to as a contraction. after the peak, this phase refers to when the GDP/total monthly income is lower, resulting in a slip of monthly pay and economic prosperity for the bakers

4 0

3 years ago

Jamestown Furniture Mart, Inc., sold $ 80,000 of furniture in May to customers who used their American Express credit cards. Suc

puteri [66]

Answer:

a. Debit Bank for $77,600; Debit Sales discount for $2.400; and Credit Sales for $80,000.

a. Debit Bank for $80,000; and Credit Sales for $80,000.

Explanation:

a. Prepare journal entries to record the sales and the subsequent receipt of cash from the credit card company.

The journal entry will look as follows:

Accounts Title Debit ($) Credit ($)

Bank (97% * 80,000) 77,600

Sales discount (3% * 80,000) 2.400

Sales 80,000

(To record sales paid for by the customer using American Express credit cards.)

b. Do the same as requirement (a), but assume the credit cards used were VISA cards (a bank credit card).

Under this scenario, the sales are NOT subject to discount and the customer will 100% of the price.

The journal entry will therefore look as follows:

Accounts Title Debit ($) Credit ($)

Bank 80,000

Sales 80,000

(To record sales paid for by the customer using VISA cards.)

4 0

2 years ago

Jane is Harriet’s caregiver. If Jane convinces Harriet to change her will and leave Jane all of her possessions, the will may be

german

Answer:

Undue influence

Explanation:Undue influence is the act of making people act against their own will or interest especially when the consequence of such action has not been determined.

Undue influence puts the person who is been influenced under the mercy of the influencer as he or she acts against their own volition which may cause them to encounter stiff penalties or consequence in the future.

6 0

3 years ago