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Juli2301 [7.4K]
2 years ago
9

3 true statements about recording journal entries in Quickbooks

Business
1 answer:
Allushta [10]2 years ago
3 0

Answer:

Explanation:

Journal entries allow you to correct inaccurate information in your accounting records or add transactions that you cannot add in other sections of the software, such as tax adjustments or depreciation expenses.

What are the 3 golden rules?

Golden Rules of Accounting

Debit the receiver, credit the giver.

Debit what comes in, credit what goes out.

Debit all expenses and losses and credit all incomes and gains.

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What is an externality? how do externalities relate to socially optimal quantity?
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3 years ago
What are the advantages a market economy offers producers?
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3 years ago
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3 0
3 years ago
Ahmed, a lawyer, sold his car to Carlos. Has an implied warranty of merchantability been created by this transaction? No, becaus
GuDViN [60]

Answer:

A.  No, because Ahmed is not a merchant.

Explanation:

Implied warranty of merchantability is a law in contract which states that when there is a transaction between a seller (the merchant), and a buyer, there is an unwritten guarantee from the seller, that the product meets up to the ordinary standards of care. This means that the goods must be fit to do what the merchant says it will do.  Therefore, if the seller finds it defective, he could return it to the seller. and if the seller refuses to make a change, a legal case could be established. The merchant by law is a wholesaler or retailer, who sells goods in which he has expertise or special skills.

Ahmed in the question could be argued in court to not be a merchant of cars and as such, has no expertise with which he can make a guarantee for the car being sold to Carlos.

5 0
3 years ago
True or false<br> Price fluctuations or changes help to clear the market
san4es73 [151]

Answer:

true

What does MARKET CLEARING mean? ... In economics, market clearing is the process by which, in an economic market, the supply of whatever is traded is equated to the demand, so that there is no leftover supply or demand

there for the answer is true

6 0
3 years ago
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