TRUE OR FALSE - ACCOUNTING

1. The matching principle requires expenses be recorded in the same period that the related revenue is recorded.
2. Generally accepted accounting principles require cash‐basis accounting.
3. Accruals are needed when an unrecorded expense has been incurred or an unrecorded revenue has been earned.
4. Consuming goods and services in the process of generating revenues results in expenses.
5. Debiting “Inventory” will increase the account.

Answers

Answer 1
1 True
2 False - Must be accrual basis
3 True
4 True
5 True

Related Questions

Consider the following two situations: (1) you buy a Porsche produced in Germany, (2) you buy a Volkswagen produced in the U.S. Which of the following statements is true? Note: multiple answers are allowed. a. The action in situation (1) has a direct effect on net exports b. The action in situation (2) has a direct effect on net exports c. The action in situation (1) has a direct effect on net capital income d. The action in situation (2) has a direct effect on net capital income

Answers

The purchase of a Porsche produced in Germany has a direct effect on net exports

What is net export?

Net exports is total export less import. Import is when a good or service is brought into a country from a foreign country. Import reduces the value of the net exports. Export is when a good produced in a country is sold in a foreign country.

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What makes you feel like you are getting your money’s worth?

Answers

Answer:

When I save a lot of money

Discuss the external factors that may affect law

Answers

Answer:

political - For example, new legislation.

economic - For example, inflation and unemployment.

social - Changes in taste and fashion or the increase in spending power of one group, for example, older people.

technological - For example, being able to sell goods online or using automation in factories.

Explanation:

Which type of store has high sales volume, shallow product lines, little service, and prices that are lower than supermarkets

Answers

The type of store that has high sales volume, shallow product lines, little service, and prices that are lower than supermarkets is known as discount stores.

What is a Discount Store?

This refers to the type of store which makes a bulk purchase of items and then sells them off at a lower price than they are worth.

Hence, we can note that a discount store operates in a way that enables them to engage in efficient distribution and bulk purchasing to meet the needs of their customers.

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BUS208 Case Studies in Business Administration
Case #2

1. Select ONE of the following (a through g).

a. A professional sports team
b. A gaming system company
c. An airline company
d. A consumer retail store
e. An automobile company
f. A computer company

2. Select a specific example of that category. For example, if you chose “a professional sports team,” you could select one of the following: Giants, Jets, Mets, Nets, Yankees, etc. Indicate the specific example you selected:

American AirLines

3. Analyze the external organizational environment for your choice. Identify at least TWO and preferably THREE aspects of EACH of the following that your choice must consider:

a. General environment

i. International dimension

1.American Airlines is the largest airline in 2020.
2. American Airlines traveled 240 destinations in the U.S, Canada,
The Caribbean and Mexico.
3.American airlines headquarters is in dallas fort worth.

ii. Technological dimension

1.Electronic wallet
2. Mobile ID
3.Virtual Assistant

iii. Sociocultural dimension

1.Ethics and human rights(provide the director with a report for unethic)
2.Sustainability and climate change
3.Give customer a great experience

(continued)


iv. Economic dimension

1.Boarding with 1 carry on & one personal item.
2.AAdvantage credit card member.


v. Legal-political dimension





b. Task environment

i. Customers





ii. Competitors





iii. Suppliers





iv. Labor market





(continued)


4. Conduct a situation analysis using a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis that assesses the environment for your selected organization.

A SWOT analysis is categorizing the information that you gathered in the environmental analysis that you performed in the first half of this case. Some of the information you listed may not qualify as a strength, weakness, opportunity, or threat, however – it may be neutral. You should have at least TWO items EACH for strengths, weaknesses, opportunities, and threats and preferably THREE aspects for at least two of these.

Positive Negative
Internal Strengths:











Weaknesses:
External Opportunities:













Threats:

Answers

Answer:

I did not know some things

Bob goes to the store to buy food.

Answers

Answer:

We always go to the store to buy food.

Explanation:

Yet somehow come out with a hole new wardrobe, new furniture, and a pet snake. This is because of the store's market. They make prices look phenomenal even if they really aren't great. They make the items look like things that you absolutely cannot live with out. Making you basically buy the whole store!

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An employee earned $1,000 in the first pay period of the current year. How much is the total employer and employee social security taxes on these earnings? (Use the simplified rate shown in illustrations.)

a. $120
b. $60
c. $0; the earnings are not subject to social security tax
d. $76

Answers

The total amount the employer and employee Social Security taxes on these earnings is $120

Nike owns equipment that cost $101,900 with accumulated depreciation of $69,600. Nike asks $37,100 for the equipment but sells the equipment for $34,400. Compute the amount of gain or loss on the sale. Multiple Choice $2,100 loss. $2,700 gain. $4,800 loss. $4,800 gain. $2,100 gain.

Answers

The gain on the equipment sold by Nike after comparing the sale price with the book value of the equipment is  $2100.

What is the gain on the equipment?

A gain is recorded when the equipment is sold for greater than its book value. The book value is the cost of the equipment less the accumulated depreciation.

Book value = $101,900 - $69,600 = $32,300

Gain = $34,400 - $32,300 = $2100

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QUESTION 2
The communication process is very important for achieving effective business communication.
State and elaborate the TWO (2) components of non-verbal communication and discuss THREE
(3) elements in the communication process from the sender's perspective with relevant examples.

Answers

Answer:

lagay mo QUESTION 4 po yan

Due to a downturn the wage of entry level workers has declined by 10 per cent, as a
result 100 entry-level workers get jobs and around 30 senior workers (15 %) would be
laid off.
(a) (5 points) Calculate the cross elasticity of demand for senior workers? Are senior
workers and entry-level workers gross complements or gross substitutes?
(b) (7 points) Which effect dominates in our example: substitution or scale effect?
How?
(c) (6 points) How would the demand curve for senior workers change if the wage paid
to entry-level workers rises?

Answers

The cross elasticity of demand for senior workers is 1.5. Senior workers and entry-level workers are gross complements.

The scale effect dominates in this example.

If the wage of the entry level workers increase, the demand curve would shift to the right.

What is the crosss price elasticity?

Cross price elasticity of demand measures the responsiveness of quantity demanded of good A to changes in price of good B.

Cross price elasticity = 15% / 10 = 1.5

Complement goods are goods or resources that are used together. As a result of the decline in wages, senior workers would be laid off. This means that senior workers and entry level workers work together.

What is the effect on the demand curve if the wages of entry level workers increase?

If the wage of the entry level workers increase, the demand for senior workers wouuld increase. This would lead to a shift to the right of the demand curve for senior workers.

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Why did many conservatives oppose affirmative action?.

Answers

Answer:

Explanation:

El conservadurismo social o socialconservadurismo es esa parte del pensamiento conservador que se refiere a la ideología o una creencia personal, que sugiere que el individuo es un ente eminentemente social y que, como tal, no puede ser concebido sino en relación a una comunidad, especialmente a los aspectos morales

Explanation:

hope it help happy to help

Toryn, Inc., a major player in semiconductors, makes small investments of 5-10 percent of a firm's equity in many emerging technology companies. Toryn buys the company outright once that company's technological uncertainty resolves. The option that Toryn, Inc. uses is called a ________ option.

Answers

Toryn, Inc uses Strategic company decisions option in making decision of making of small investments and buying of the company.

What is a Strategic company decision?

A strategic decisions refers to vital decisions made on the environment where the firm operates, the resources and the people who form the company.

In essence, these decisions are important because they deal with harmonizing organizational resource capabilities with the threats and opportunities.

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A manufacturing division has $1,800,000 in average assets and income of $720,000. The company's target rate is 8%. The division's residual income is $

Answers

576000

just divide the smallest number by the big number then you’ll get 576000

A manufacturing division has $1,800,000 in average assets and income of $720,000. The company's target rate is 8%. The division's residual income is $576,000. Thus, the accurate answer is $576,000.

What is residual income?

The income that is earned following the conclusion of manufacturing work is referred to as “residual income.” Royalties, interest and dividend income, rental and real estate revenue, and sales of consumer products are only a few examples of the residual income.

The formula of residual income are:

Residual Income = Net Operating Income (NOI) − (Minimum Required Return (MRR) × Cost of Operating Assets(COA)).

Net Operating Income = $720,000

Cost of Operating Assets = $1,800,000.

Minimum Required Return = 8%

RI = NOI—MRR  × COA

RI = $720,000— $1,800,000 × 8%

RI = $720,000— $144,000

RI = $576,000.

Therefore, residual income is $576,000.

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In the context of planning, if there is alternative generation, evaluation, and selection steps which reveal several different future scenarios, a different __________ plan is attached to each scenario.

Answers

In the context of planning, if there is alternative generation, evaluation, and selection steps which reveal several future scenarios, a different contingency plan is attached to each scenario. Thus, option (c) is correct.

A contingency plan might concentrate on a single aspect of a company's operations. All general support systems must have a contingency plan that includes an emergency response strategy, a backup operations plan, and a post-disaster recovery plan.

The many future scenarios employed in contextual recovery are just alternative strategies. This identifies the sort of plan that is concerned with business strategies and has an impact on the company's objectives.

As a result, the significance of the planning as the alternative generation, evaluation, and selection steps are the aforementioned. Therefore, option (c) is correct.

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#SPJ12

Your question is incomplete, but most probably the full question was.

In the context of planning, if there is alternative generation, evaluation, and selection steps which reveal many future scenarios, a different __________ plan is attached to each scenario.

EvaluationAlternativeContingencySelectionDecision

!!50 Points answer quickly!!

Answers

Answer:

i think it's

jesse

jesse

jesse

Explanation:

Ryan is a sales coordinator with a big bookstore that has outlets in several cities. He plans to start an e-publishing service that would enable networking among authors and readers. Which type of e-publishing would be appropriate for Ryan’s project?

Answers

Explanation:

sorry this version please

Which of these can lessen the amount of a mortgage loan?
Down payment
Insurance
Property taxes
Collateral

Answers

Based on the various requirements of a mortgage loan, the factor that can lessen the amount of the mortgage loan is a down payment.

What is a down payment?

The down payment is the amount that is paid by the buyers of the house from their own savings and income which they will not have to pay back to the bank.

The larger this payment is, the less the amount that needs to be borrowed as a mortage loan.

In conclusion, option A is correct.

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Answer:

A. Down payment, is the answer


When you shop online, most retailers collect personal information about you.
Group of answer choices

True

False

Answers

The answer is false this question is false

When is the advisable time to start building or adding to your own professional network?
Question 5 options:

a)

Upon graduation

b)

When you need a job

c)

Whenever you have time

d)

Right now

Answers

Answer:

A. Upon Graduation

Assume that Hartmann Company contributes 15% of employee monthly salaries to an employee 401k plan. Assuming $600,000 of monthly salaries, the journal entry to record the monthly contribution would include a __________ to __________ for $90,000.

a. debit; Pension Expense
b. debit; Cash
c. debit; Unfunded Pension Liability
d. credit; Unfunded Pension Liability

Answers

A. Debit; pension expense

how hospital capacity considerations differ from a factory.

Answers

Answer:

One of the differences between hospital and factory capacity is that a hospital can add capacity easily by adding more staff and beds. A factory is usually technologically limited and therefore must plan well in advance to add capacity.

Explanation:

On January 1 of Year 1, Pierce Company borrowed $200,000 on a 10-year, 7% installment note payable. The terms of the note require Pierce to pay 10 equal payments of $25,000 each December 31 for 10 years. The required general journal entry to record the first payment on the note on December 31 of Year 1 is

a. debit Interest Expense, $14,000; debit Notes Payable, $11,000; credit Cash, $25,000.
b. debit Notes Payable, $14,000; debit Interest Expense, $11,000; credit Cash, $25,000.
c. debit Notes Payable, $25,000; credit Cash, $25,000.
d. debit Notes Payable, 14,000; credit Interest Expense $14,000.

Answers

A. Debit interest expense, $14,000; debit notes payable, $11,000; credit cash, $25,000

What report compares metrics based on user acquisition date over a series of weeks?.

Answers

Answer:

✒️Answer:

Cohort Analysis report compares metrics based on user acquisition date over a series of weeks.

Explanation:

#CarryOnLearning

[tex]watch.some.anime[/tex]

If a nation’s currency appreciates relative to that of its trading partners, what will happen to the nation’s exports, imports and aggregate demand?.

Answers

If a nation’s currency appreciates relative to that of its trading partners, the nation' exports would decrease, import would increase and aggregate demand would decline.

What is currency appreciation?

A nation's currency appreciates if the value of the currency increases. If the value increases, it becomes more expensive for trading partners to buy the goods of the country who currency appreciated.

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the cost of sunflower seeds has increased. sunflower seeds are an input when sunflowers are produced. explain how this change will affect the market for sunflowers.​

Answers

The cost of sunflower seeds will make the suppliers to supply it at a higher price. This will lead to a general increase in the cost of production. The output price of the product, which is sunflower will also increase.

Blossom Diesel owns the Fredonia Barber Shop. He employs 7 barbers and pays each a base rate of $1,470 per month. One of the barbers serves as the manager and receives an extra $530 per month. In addition to the base rate, each barber also receives a commission of $5.50 per haircut.

Other costs are as follows.

Advertising $310 per month
Rent $930 per month
Barber supplies $0.30 per haircut
Utilities $175 per month plus $0.20 per haircut
Magazines $20 per month

Blossom currently charges $11.00 per haircut.
(a)

Determine the variable costs per haircut and the total monthly fixed costs. (Round variable costs to 2 decimal places, e.g. 2.25.)

Total variable cost per haircut
$enter the Total variable cost per haircut in dollars rounded to 2 decimal places
6
Total fixed $enter the total fixed costs in dollars rounded to 2 decimal places
12255

(b)
Compute the break-even point in units and dollars.

Break-even point
enter the break-even point in units 2,451 haircuts
Break even sales $enter the break-even point in dollars
26,961
(d)
Determine net income, assuming 2,880 haircuts are given in a month.

Net income / (Loss)
$enter net income in dollars

Answers

a) The determination of the variable costs per haircut and the total monthly fixed costs for Fredonia Barber Shop are as follows:

1) Variable Costs per haircut:

Commission per barber per haircut = $5.50

Barber supplies  per haircut =             $0.30

Utilities per haircut =                            $0.20

Total variable costs per haircut =     $6.00

2) Fixed costs per month:

Salaryiesof barbers (6 x $1,470) = $8,820

Supervisor's salary                      = $2,000

Advertising  per month =                   $310

Rent  per month =                             $930

Utilities per month =                          $175

Magazines  per month =                    $20

Total fixed costs per month =   $12,255

b) The computation of the break-even point in units and dollars for Fredonia Barber Shop is as follows:

1) Break-even point in units is 2,451 units ($12,255/$5)

= Fixed costs/Contribution margin per unit

Contribution margin per unit = $5 ($11 - $6)

2) Break-even point in dollars is $26,964 ($12,255/45.45%)

= Fixed costs/Contribution margin ratio

Contribution margin ratiio = 45.45% ($5/$11 x 100)

c) The net income when 2,880 haircuts are given in a month is $2,145.

Fredonia Barber Shop

Income Statement

For the month

Sales Revenue (2,880 x $11) $31,680

Variable costs (2,880 x $6)    17,280

Contribution margin =          $14,400

Fixed costs                             12,255

Net income =                         $2,145

Data and Calculations:

Number of barbers employed = 7

Base rate per barber per month = $1,470

Mnager's salary per month = $2,000 ($1,470 + $530)

Commission per barber per haircut = $5.50

Other costs:

Advertising  per month = $310

Rent  per month = $930

Barber supplies  per haircut = $0.30

Utilities per month = $175 plus $0.20 per haircut

Magazines  per month = $20

Price charged per haircut = $11.00

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All of the following would be considered examples of employer postretirement benefits EXCEPT

a. social security.
b. dental care.
c. tax services.
d. medical care.

Answers

A. Social Security

All of the following would be considered examples of employer post retirement benefits except Social Security

what tool is most appropriate for applying spread on the bread?​

Answers

Answer:

A butter knife

Explanation:

Traditionally, people spread the spread on bread with a butter knife.

2. The following table provides information about the production possibilities frontier of a Country.(4)

Computer Wheat
0 420
10 400
30 360
50 300
70 200
90 0

a. Plot and connect these points to create Country's production possibilities frontier.
b. If the Country currently produces 10 computers and 400 kg wheat, what is the opportunity cost of an additional 20 computers?
c. Suppose that a technological advancement allows the country to produce computers more efficiently. What would be the effect on the PPF? Draw it.

Answers

Based on the PPF of the country, if the country were to produce an additional 20 computers at that level, the opportunity cost would be 40 kg of wheat.

If a technological advancement allows for computers to be produced more efficiently, the PPF would expand outwards as shown in the attachment.

What would be the opportunity cost?

At the point where this country can produce 10 computers, the amount of wheat it can produce is 400 kg wheat.

If it produces 20 more computers, it will move to the point where it can produce 30 computers and 360 kg of wheat. Opportunity cost would be:

= 400 - 360

= 40 kg wheat.

What happens due to a technological advancement?

When there is an improvement in technology, the production capacity of a nation increases. This leads to the production possibilities frontier expanding outward.

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PLEASE ANSWER QUICKLY
The operating system cannot communicate with a printer. What is a solution?


(A) - Run a antimalware program

(B) - Update the printer device driver

(C) - Run the task manager utility

(D) - Delete temporary files

Answers

Answer:

B: Update the printer device router

Explanation:

Other Questions
1. Can you please put the following chromatography solvents in order of polarity as a chromatography solvent: acetone, n-propanol,water, hexane, diethyl ether, methanol and explain2. chromatography with a mixture of n-propanol and water. Would it make sense to add hexane to this mixture to try and make it work better? why?3. The basic food colors you can buy are red, blue, green, and yellow. Think about what you know about colorsand predict which of these might be a single colored compound and which ones might contain more than one.Write down your prediction. If you have the colors listed and want a purple color, what would you do? What role did World war play in the revolutions and nationalisticuprisings discussed in this chapter? what does horrocks actions reveal about his character when he seeks revenge against Raut give 3 words and three quotes A population of mosquito larvae is living in a large pond. Mosquitofish are a type of fish that eat mosquito larvae. Which of the following describes a direct effect on the population of mosquito larvae when mosquitofish are introduced to the pond? *A: immigration decreasesB: births decreaseC: emigration increasesD: deaths increase Which statement best describes a societys desire for fuel-efficient vehicles? Choose the correct answer.Auto manufacturers set fuel-efficiency standards.Interest in fuel efficiency decreases when fuel prices are low.Fuel shortages in the 1980s started the interest in fuel efficiency.An increase in fuel efficiency increases carbon dioxide emissions. Read the conversation between manu and anna and complete the passage that follows. manu: "what time does the train arrive?" anna: "i think the train will be on time." manu asked anna (a) anna replied (b) please me fast A scientist has a container with a substance inside. At first, the molecules in the substance move away from each other. Later, the molecules move around each other. What change did the scientist observe in the substance What single decimal multiplier would you use to decrease by 2% followed by a 3% decrease? Find x in circle O (The figure is not drawn to scale) A 50,0 g silver spoon at 20.0C is placed in a cup of coffee at90.0C. How much heat does the spoon absorb from the coffee toreach a temperature of 89.0C? What are the postulates of the KMT of gases? List the first five natural numbers. Should habitual offender laws (3-Strikes laws), be used as a sentencing option in US Courts? Are they effective at reducing crime? The circle below is centered at (10, 4) and has a radius of 4. What is its equation? A. (x - 10)2 + (y - 4)2 = 16 B. (x - 10)2 + (y - 4)2 = 4 C. (x - 4)2 + (y - 10)2 = 4 D. (x - 4)2 + (y - 10)2 = 16 This figure is the pre-image of a prism that has undergone a dilation with a scale factor of 3/4.What is the surface area of the image after the dilation?185 5/8 m219 3/8 m247 1/2 m292 1/2 m What is the shape of the cross section taken perpendicular to the base of a cylinder? Circle Rectangle Ellipse Triangle Why does the DNA move through the gel when an electrical current is generated? Which of these describe an inheritance pattern of autosomal genetic disorders? Select all that applyFor an autosomal dominant disorder to be expressed, two copies of the abnormal allele must be inherited.For an autosomal recessive disorder to be expressed, two copies of the abnormal allele must be inherited.For an autosomal recessive disorder to be expressed, just one copy of the abnormal allele must be inherited.For an autosomal dominant disorder to be expressed just one ceny nf the abnormal allele must Many companies around the globe voluntarily report their efforts in promoting environmental sustainability using the guidelines developed by the ________. Explain how to determine if the two expressions are equivalent using x = 6 and x = 10. 8x 40 8(x 5)