This transaction is called account allowance. Account allowance
includes two kinds of transactions – to reduce in the folio balance
compensation for poor service and the other one is to correct posting mistakes
after the close of business. This kind of transaction is recognized by the usage
of an allowance voucher, allowance vouchers are typically necessitate
management endorsement.
Answer: Strategic business units.
Explanation:
Large companies in most cases have a lot of sub-companies under them that run almost independently but report to the headquarters of the large companies about their activities, these sub-companies are known as strategic business units(SBU). The SBU helps the large company gain a large area of coverage.
Answer:
D. The presentation of the value of a company
Explanation:
The company's values, corporate values or core values, has no place in the financial statement.
The corporate values includes the fundamental beliefs upon which ones business and its ethic/behavior are based.
A large industrial sector doesn’t
always indicate that a nation is fully developed because the standard of living
may not have risen with industrial growth. An example of this is North Korea.
It has a large industrial sector but also a low standard of living, so it’s not
considered developed. The correct answer between all the choices given is the
second choice or letter B. I am hoping that this answer has satisfied your
query and it will be able to help you in your endeavor, and if you would like,
feel free to ask another question.
Answer:
The correct answer is letter "B": record revenue only after you have earned it.
Explanation:
Revenue Recognition is an accounting term that describes how and when a company reports revenue in its ledger. It is also part of the Generally Accepted Accounting Principles (GAAP). Using the accrual accounting method, revenue must be recorded when it is earned not when the company collects the cash proceeding.
