Answer:
Expenses ; revenues ; adjusting
Explanation:
According to the expense recognition or matching principle, the expenses that are incurred in a particular period should be matched with the revenues that are earned in that particular period.
This principle major part is of the adjustments so that the adjustment entries are passed so that the financial statements represents the true and fair view to the users of the accounting information
For monopolistically competitive businesses, the factor that ultimately causes zero economic profitability is: newly added
What Exactly Is Economic Gain (or Loss)?
The difference between the money made from selling an output and the price of all the inputs plus any opportunity costs is what is known as an economic profit or loss. By deducting potential costs and explicit costs from generated revenue, economic profit is calculated.
Opportunity costs are a kind of implicit cost that management determines and that vary depending on various events and viewpoints.
Analysis of accounting profit and economic profit frequently goes hand in hand. The profit that a corporation reports as accounting profit appears on its income statement. Accounting profit is a measure of actual inflows and outflows that is necessary for a company to have financial transparency.
To know more about economic profitability
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Answer:
B
Explanation:
The separate account that the insurance company maintains for a variable annuity is invested in Legal List securities only.
<span>I think that this could prove to be a good service to provide to the people, but I would want to know the cost of implementing the idea first. For example, if the park already has some sort of speaker system installed, then the idea would not cost a lot of money and would be feasible. On the other hand, if there are not already speakers, how expensive will it be to provide the music to the people standing in line? I like the idea being proposed, because it could keep those waiting in line entertained.</span>
Answer:
see below
Explanation:
In this transaction, Rs. 700 is used to pay for rent that the proprietor uses for personal use. The transaction will be captured in the drawings account. A drawing account is used to track all the money owners take from a business for personal use. The amount taken to pay rent, Rs. 700 will be debited Drawings A/c.
The transaction will decrease cash ( asset account) by Rs. 700. A decrease in assets is credited. Therefore, the cash account will be credited by Rs.700
The journal entry will be
Drawings A/c Dr. Rs.700
Cash A/c. Cr Rs.700
