Debts that are owed to others are called Liabilities.
a. True
b. False

Answers

Answer 1
The answer would be true.
Answer 2
Liabilities reflect all the money your practice owes to others. This includes amounts owed on loans, accounts payable, wages, taxes and other debts. Similar to assets, liabilities are categorized based on their due date, or the timeframe within which you expect to pay them.


So that is true

-hope this helps

Related Questions

what other emerging trend is connected to simplified menus?

Answers

The potential for automation is nearly limitless where menus are reasonably straightforward and provide fewer selections, according to Brian Warrener.

What is emerging trend?

The Emerging Trends (or Trending Terms) is a collection of words that describes the subjects that have gained popularity over the past 24 hours more quickly than any other. By "emerging," we mean becoming more popular among the general public and generating more conversation than any other subject.

Alternatives to meat are nothing new. Since a while ago, restaurants and home grills have offered Impossible Burgers, Beyond Meat Burgers, and other comparable foods. Large fast food outlets are testing vegan nuggets. Pizza businesses are experimenting with vegan pepperoni. Staying on top of trends will enable you to deliver what clients want whenever they want it, encouraging return business and good word-of-mouth.

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1. By giving yourself a safety cushion on all sides of the vehicle you improve your ability to? 1. stop 2. maneuver 3. think 4. all of the above

Answers

Answer: 4

Explanation: All of the above

Which three statements help define a Market/Fit Hypothesis? (Choose three)

Answers

There are the three statements was the based on the defines a market/fit hypothesis are:

Who is the target audience?

Products are the fit to the market.

Product is the satisfy the needs and the wants.

What is Hypothesis?

A hypothesis is the investigation of two independent variables. Furthermore, it is evaluated and tested in an analytical phenomenon. A research hypothesis is a proclamation of expectation or prediction that will be tested through research.

According to the hypothesis, there are the three statement was the based on the market/fit. The product and solution fit to the market problems. Product are the fit to the target audience. Product is the satisfy the needs and the wants.

As a result, the three statements was the based on the defines a market/fit hypothesis.

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Which acronym represents the set of accounting
principles that include the full disclosure
principle?
A. AARP
C. GAAP
B. NAFTA
D. NEC

Answers

Answer:

C. GAAP

Explanation:

Listed below are selected transactions of Schultz Department Store for the current year ending December 31.
1. On December 5, the store received a deposit from the Selig Players to be returned after certain furniture to be used in stage production was returned on January 15. $ 500
2. During December, cash sales were received, which include the 5% sales tax that must be remitted to the state by the fifteenth day of the following month. $ 798,000
3. On December 10, the store purchased for cash three delivery trucks. The trucks were purchased in a state that applies a 5% sales tax. $ 120,000
4. The store sold 25 gift cards for $100 per card. At year-end, 20 of the gift
cards are redeemed. Schultz expects three of the cards to expire unused.
Number of gift cards sold 25
Value of each gift card $ 100
Number of cards unredeemed at year-end 20
Number of cards expected to expire unused 3
Instructions
Prepare all the journal entries necessary to record the transactions noted above as they occurred and any adjusting entries relative to the transactions that would be required to present fair financial statements at December 31. Date each entry. For simplicity, assume that adjusting entries are recorded only once a year on December 31.
NOTE: Enter a formula, a cell reference, or a value (if you are unable to reference a cell), into the yellow shaded input cells.

Debit Credit
1. Dec.5
2. Dec. 1 - 31
3. Dec. 10
4. Dec. 31
Dec. 31

Answers

The journal entry of Department Store for the current year ending December 31 is given below:

What are journal entries?

Journal entries are the entries made to document the transactions carried out by the company. The books of accounts have a record of every dollar that comes in and goes out. The transactions that are documented are in the book of accounts and are examined and audited for surplus payments or deficits, which are the most frequent errors to be discovered over recording, after they have been made. Below are the diary entries related to the context that are attached.

Date                    Particular                    Amount (Dr)                  Amount(Cr)

1 Dec 2005         cash                                 500                                                                                                                                                               500   2 Dec 31              cash                              798,000

                           Sales                                                                    760,000                            

                    Sales Taxes Payable                                                  38,000

                    (Being sales recorded)                            

3. Dec 10              Delivery   Truck             126,000

                               cash                                                                    126,000   4. Dec 31                 cash                              126000

                               Sales                                                                     2500  

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Dennis 51 purchased a $10000 13 week treasury bill as a short term investment. He paid $9960.00 for the security, which was issued on June 17th 2021 , when the bill matured on sept. 16,2021 Dennis received $10000.00 how is the $40.00 is interest reported on his tax return form 6251?

Answers

The interest of Dennis's treasury bill is not reported on his tax return form 6251, but Form 1099-INT.

How does AMT tax work?

Certain taxpayers who make a significant amount of money are subject to the Alternative Minimum Tax (AMT), even though they can use deductions and credits to keep the majority, if not all, of their income from being taxed.  It increases the amount of income that is taxed by adding items that are not typically taxed and by excluding many deductions under the regular tax system.

The AMT is a parallel tax system that runs in the background of the regular tax system. Treasury bills, notes, and bond interest income are taxed federally but not state or locally. However, this income is not taxed on the interest received. Treasury bills, notes, and bond interest income are taxed federally but not state or locally. However, this revenue is not taxed on the interest received.

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Which taxpayer is most likely to benefit by itemizing deductions on their 2021 return? None of these individuals are blind. Colin (32). He has no dependents and will use the single filing status. His allowable itemized deductions are $13,650. Donald (69). He has no dependents and will use the single filing status. His allowable itemized deductions are $13,800. Janelle (65). She is unmarried and will use the head of household filing status. She has one dependent. Her allowable itemized deductions are $19,500. Trevon (28). He is married and filing a joint return with his wife, Courtney (27). They have no dependents, and their allowable itemized deductions are $24,600.

Answers

a) Age of Garcia:68 years old She is single and can claim a standard deduction of 12400 dollars. In this particular instance, Garcia is over 65 years old, so the $1650 increase in the standard deduction is applicable.

Gracia will benefit from the standard deduction because it is greater than the itemized deduction, which is equal to 12400 times 1300, or 14050 dollars.

b) Age of Connor:31 Because he is single, he can claim a standard deduction of $12,400.

Because the itemized deduction is $13585, claiming it is advantageous for Connor because it is greater than the standard deduction.

c) Marietta, 35 years old, is unmarried and the head of the household. As a result, she is eligible for the standard deduction, which is 1865 dollars. The standard deduction for a dependent is 4300 dollars; the itemized deduction is 19300 dollars. As a result, Marietta is better off claiming the standard deduction than the itemized deduction. d) Tyrone, 35 years old28 years of age, married: married Filing jointly with spouse The standard deduction for married filers is $24880, while the itemized deduction is $23980. As a result, claiming the standard deduction is advantageous for Tyrone because it is greater than the itemized deduction.

The answer is:In the 2020 return, only Connor will benefit from itemizing deductions.

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100 POINTS NEED HELP Which accounting system (or systems) allows for the FIFO method of inventory valuation?
A. IFRS only
C. Neither IFRS nor GAAP
B. GAAP only
D. Both IFRS and GAAP

Answers

Answer:

Both IFRS and GAAP

Explanation:

Both GAAP and IFRS allow First In, First Out (FIFO), weighted-average cost, and specific identification methods for valuing inventories.

However, GAAP also allows the Last In, First Out (LIFO) method, which is not allowed under IFRS (extra info)

Please like

Answer:

D

Explanation:

Brenda saves $650 per month.
Her goal is to save $10,000 for a down payment on a car.
After how many months will Brenda have met her goal?
Round to the nearest month.

Answers

Answer:

16 months

Explanation:

on the 16th month she will have 10400

100 POINTS DESPERATE FOR HELP A company uses the same procedures in order to track growth from year to year. What principle does this illustrate?
A. None of the above.
B. Consistency.
C. Relevancy.
D. Reliability

Answers

Answer:

D. Reliability

Explanation:

D. Reliability

D

your welcome! hope this helps

Operational gearing refers to

Answers

Operational gearing (also known as operating leverage) describes the relationship between a company's fixed costs (costs that it has to pay, regardless of how many sales it makes) and variable costs (those that rise and fall along with the level of turnover). The higher a firm's fixed costs are as a proportion of total costs, the higher its operational gearing.

Airlines and hotels have high operational gearing, for example, because of their high fixed costs (mainly property and staff) an aeroplane still requires a full complementof staff to get from A to B, regardless of how many seats are filled.

Operational gearing refers to the use of leverage to increase the financial risk taken on by a company or individual.

Operational gearing is achieved by using a combination of debt and equity to finance an operation, such as a business venture or investment. Leverage can be an effective tool for increasing returns, but it also carries with it a greater risk of financial loss.

Operational gearing is often used to fund a business venture or investment in order to increase the potential return on investment. By leveraging debt and equity, an investor can increase their potential return without having to commit additional capital or resources.

The primary advantage of operational gearing is the ability to increase potential returns without having to commit additional capital. This can be especially beneficial for businesses with limited capital, as they can leverage the funds they already have to grow the business. Additionally, operational gearing can be used to hedge against risk and reduce overall volatility.

The primary disadvantage of operational gearing is the increased risk associated with it. Leverage can magnify both potential gains and losses, meaning that an investor can potentially experience greater losses than they would without the use of leverage.

Additionally, operational gearing requires the investor to be able to service the additional debt, which can be difficult if the venture or investment does not generate sufficient cash flow. Operational gearing can also lead to higher taxes for the investor, as interest payments on debt are tax deductible.

Overall, operational gearing is a powerful tool that can be used to increase potential returns on investments. However, it also carries a greater risk of financial loss, so it is important to understand the potential implications before leveraging debt or equity to finance an operation.

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The fixed costs for Teddy bikes are $ 1000, the variable costs are $855, and the firm's revenues are $950.What should the firm do?

Answers

If the variable costs are $855, and the firm's revenues are $950, then the firm should cut down the variable cost in order to increase the profit or revenue as the fixed cost cannot be changed in short run.

What is fixed cost?

A fixed cost is a cost that does not fluctuate with the production or sale of more or fewer goods or services.

Rent and leasing charges, salary, energy prices, insurance, and loan repayments are a few examples of fixed costs. There are some taxes that are fixed costs as well, such as company licenses.

Fixed costs are expenses that remain constant regardless of whether sales or production volumes rise or fall. This is so because they are not involved in the actual process of producing a good or providing a service. Fixed costs are therefore regarded as indirect costs.

The term "variable cost" refers to a sort of cost that will fluctuate in response to changes in production levels.

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Calculate interest rate when present value is $460, future value is $968 and years are 11

Answers

Answer: i=6.70% rounded up from 6.99767%

Explanation:

Given PV=460, FV=968, n=11,

Find i=?

PV=FV(1+i)^-n

460=968(1+i)^-11

460/968=(1+i)^-1/11

(460/968)^-1/11= 1+i

1.0699767=1+i

1.0699767-1=i

i=0.699767

i=6.70%

Americans spend a lot of money primarily because

Answers

Explanation:

they rich g i gues id kniw thanks 2+1

I NEED HELPPPP CANT FAIL PLS The time period assumption is a part of what set of principles?
A. AARP
B. NAFTA
C. NEC
D. GAAP

Answers

Answer:

D. GAAP

Explanation:

Cornell Enterprises is considering a project that has the following cash flow and WACC data. What is the project's NPV? Note that a project's projected NPV can be negative, in which case it will be rejected.

WACC: 10.00%
Year 0 1 2 3
Cash flows -$1,475 $470 $480 $490

Answers

Cornell Enterprises is considering a project that has the following cash flow and WACC data. The answer should be -132.63NPV (10%, 450,460,470)+(1275).

What are Enterprises?

A for-profit firm or company is referred to as a "enterprise" in various contexts, although this usage most frequently refers to entrepreneurial endeavors. Successful entrepreneurs are frequently referred to as "enterprising."

There are various types of legal businesses, but the following are the most prevalent in the United States:

A sole proprietorship is a business that is controlled by a single person, usually for that person's profit. This type of business has limitless liability for any damages that come from the activities of the business.

Partnership:  A company controlled by two or more people or entities that share ownership, albeit not necessarily on an equal basis.

Corporation:  A for-profit organization established to protect the owner(s) from responsibility in the event that the business is sued. Depending on the number of owners, companies can take on many forms.

Limited Liability Company (LLC) -  An LLC gives both the tax benefits of a partnership and the legal protection of a corporation.

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100 POINTS HELP A business implements cost-cutting initiatives, but they are not yet complete. What should an accountant do?
A. Report them now
C. Ignore them
B. Estimate their value
D. Report them when complete

Answers

Answer:

is it too late

All are true about a savings account, except: *
O They earn interest
O They usually are tied to your overdraft protection
O People use them for larger expenses
O They are your day-to-day primary account

Answers

The answer is the last one, They are your day-to-day primary account

eBook
Dividing Partnership Income
Beau Dawson and Willow McDonald formed a partnership, investing $65,000 and $195,000, respectively.
Determine their participation in the year's net income of $275,000 under each of the following independent assumptions:
a. No agreement concerning division of net income.
b. Divided in the ratio of original capital investment.
c. Interest at the rate of 6% allowed on original investments and the remainder divided in the ratio of 2:3.
d. Salary allowances of $34,000 and $49,000, respectively, and the balance divided equally.
e. Allowance of interest at the rate of 6% on original investments, salary allowances of $34,000 and $49,000, respectively, and the remainder divided equally.
Dawson
McDonald
137,500
137,500
$ 68,750 ✓
a.
b.
C.
d.
Show Me How
e.
Feedback
X
$206,250
Check My Work
Set up a column for each partner and a total column.
a. Determine the distribution of income and losses in the absence of a partnership agreement.
h Lise the ratio of the partner's original capital investment to distribute the net income.

Answers

The distribution of income and losses to the partners is as follows:

                                              Beau Dawson       Willow McDonald    Total

a) No agreement (income or loss

is shared equally)                     $137,500               $137,500       $275,000

b) Ratio of original capital         $68,750              $206,250       $275,000

c) Interest at 6% and the remainder shared equally:

Total income shared                $107,660              $167,340       $275,000

d) Salary Allowances and the remainder shared equally:          

Total income shared              $130,000              $145,000       $275,000

e) Interest at 6%, salary allowances of $34,000 and $49,000, and the remainder shared equally:

Total income shared               $126,100            $148,900        $275,000

How do partners share profits?

Partners share profits and losses according to their partnership agreements.

In the absence of a partnership agreement, profits and losses are distributed equally.

                                   Beau Dawson       Willow McDonald    Total

Capital investment         $65,000               $195,000            $260,000

Profit-sharing ratio (capital) 1              :              3

Sum of ratios = 4

Net income for the year = $275,000

Profit-sharing under these scenarios:

                                              Beau Dawson       Willow McDonald    Total

a) No agreement (income or loss

is shared equally)                     $137,500               $137,500       $275,000

b) Ratio of original capital         $68,750              $206,250       $275,000

c) Interest at 6% and the remainder

in the ratio of 2:3

Interest on capital                     $3,900                  $11,700          $15,600

Income-sharing                     $103,760               $155,640       $259,400

Total income shared            $107,660                $167,340       $275,000

d) Salary Allowances           $34,000                 $49,000          $83,000

Income-sharing (equally)       96,000                   96,000        $192,000

Total income shared          $130,000                $145,000       $275,000

e) Interest at 6%, salary allowances of $34,000 and $49,000, and the remainder shared equally:

Interest on capital                     $3,900                  $11,700          $15,600

Salary Allowances                  $34,000                $49,000         $83,000

Income-sharing (equally)       $88,200                $88,200        $176,400

Total income shared             $126,100              $148,900        $275,000

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What's a major benefit to a buyer if she signs a buyer representation agreement?

Answers

Answer: A Buyer's Representation Agreement clarifies expectations, helping you understand what you should and shouldn't expect from your buyer's rep, and what they will expect from you, which usually centers on loyalty.

Explanation:

A major benefit to a buyer if she signs a buyer representation agreement is that a professional will be representing her preferences and she will receive a personal expert who is aware of her needs.

Professionals Are Representing Your Preferences

Using just a qualified buyer's agent is comparable to using an expert to assist with finances, a surgeon to assist with health care, or a mechanic to assist with your vehicle. You could perform these tasks oneself assuming that you had the spare time to dedicate to studying everything there is to know about accounting, medicine, and automobile repair. who has the time, though? This is why you let other experts assist you in their particular areas of specialization.

You Receive A Personal Expert Who Is Aware Of Your Needs

Your Buying agent is acquainted with your real estate wants and worries, just like your accountant, doctor, and mechanically do. Accessible communication is the cornerstone of this kind of partnership

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PLEASE HELP 100 POINTS Land purchased for $25,000 appreciates in value to $150,000. What value would be listed on an accounting statement?
A. $25,000
B. $150,000
C. $125,000
D. Two-thirds of $150,000

Answers

Answer:

C

Explanation:

1. Aflac Duck
O Trademark
O Patent
O Copyright

Answers

patent is the answer

Given the data provided in the table below, the total revenue (TR) for production at quantity (Q) level 4 equals
zero
$1.00
$15.00
$20.00

Answers

The total revenue (TR) for production at quantity (Q) level 4 , given the data on the table, is D. $ 20. 00 .

How to find Total revenue ?

Total revenue refers to the total returns that a company makes when it sells a certain amount of goods or services . This amount has not been adjusted for expenses yet and is simply what is made from sales . If it is adjusted for expenses, then it becomes known as the total profit from the sale of goods and services .

The formula for the total revenue is therefore :

= Quantity of goods or products sold x Price of each unit of the good or product

At production quantity (Q) level 4, the quantity sold is 4 units and the price per unit is $5.

The total revenue is therefore:

= 4 x 5

= $20

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what is disadvantage and advantage of file link system in traditional at one University?​

Answers

Compared to electronic filing, traditional file organization is more secure, but it still has drawbacks. Typically, electronic files may be accessed across a network, therefore it is feasible for an unauthorized individual to access electronic data via the Internet by employing hacking techniques. Computer viruses and other software security issues can also harm electronic data. On the other hand, electronic data is simple to backup in various locations, minimizing the chance of permanent data loss. Paper files, on the other hand, can be destroyed in fires and floods.

Electronic systems are more sophisticated than traditional file methods, which might make it harder for inexperienced employees to access and change data. To find a file, anyone can search alphabetized filing cabinets. Technical training may be necessary to locate and manipulate information in an electronic database, and user mistakes can lead to unintentional changes or data loss.

Why are the purpose, vision, mission, and values statements so important in
the strategic planning process?
A. They provide the foundation for everything the company does.
B. They provide good public relations material for the organization.
C. They make sure everyone in the organization is working together.
D. They identify the key internal and external factors.
SUBMIT

Answers

The purpose, vision, mission, and values statements so important in the strategic planning process as they provide the foundation for everything the company does.

They make sure everyone in the organization is working together.

Option A and C are correct .

Developing a vision and mission statement is critical to the success of any community initiative. These statements concisely describe the group's aspirations, allow the organization to focus on what really matters, and provide a foundation for developing other aspects of the strategic plan.

Why are vision, mission and values ​​important to strategic planning?

Vision and mission statements serve as landmarks to help individuals identify with the organization's processes and provide direction, but discourage those unwilling to follow them from participating in the organization's activities.

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What is one reason a business may not begin their financial year on January 1?
A. cold weather
C. tradition
B. GAAP
D. holiday shopping

Answers

Answer:

Holiday Shopping

Explanation:

Many companies use different fiscal years than the traditional calendar year because it allows them to better represent their revenue and expenses.

Examples are retail stores because of the spike of Christmas shopping.

The Thakor Corp.’s purchases from suppliers in a quarter are equal to 60 percent of the next
quarter’s forecast sales. The payables period is 60 days. Wages, taxes, and other expenses are 25
percent of sales, and interest and dividends are $85 per quarter. No capital expenditures are
planned.
Here are the projected quarterly sales:
Q1 Q2 Q3 Q4
Sales $2,190 $2,490 $2,190 $1,890
Sales for the first quarter of the following year are projected at $2,520. Calculate the company's
cash outlays by completing the following: (Do not round intermediate calculations. Round
the answers to 2 decimal places. Omit $ sign in your response.)
Q1 Q2 Q3 Q4
Payment of accounts
Wages, taxes, and other
expenses
Long-term financing
expenses
Total

Answers

Answer:

Q1: $738.00, Q2: $862.00, Q3: $646.00, Q4: $546.00, Total: $2,792.00

Explanation:

What is one thing college students must do to continue to receive federal
student aid while attending college?
A. Register with Selective Service
B. Select an academic major in their first semester
C. Maintain satisfactory academic progress
D. Commit to community service after college

Answers

Answer:

C. Maintain satisfactory academic progress

Explanation:

Federal student aid is performance based (usually with a GPA range in place), so maintaining such is what keeps students on track to continue receiving it.

What is the probability of receiving at least three e-mails during an hour (to 4 decimals)? For this question, if calculating the probability manually make sure to carry at least 4 decimal digits in your calculations. c. What is the expected number of e-mails received during minutes (to 2 decimals)? d. What is the probability that no e-mails are received during minutes (to 4 decimals)?

Answers

b) The probability of receiving at least three e-mails during an hour is of: 0.8754 = 87.54%.

c) The expected number of e-mails received during 15 minutes is of: 1.25 e-mails.

d) The probability that no e-mails are received during 15 minutes is of: 0.2865 = 28.65%.

What is the Poisson distribution?

In a Poisson distribution, the probability that X represents the number of successes of a random variable is given by the following mass probability function defines as follows:

[tex]P(X = x) = \frac{e^{-\mu}\mu^{x}}{(x)!}[/tex]

The parameters are:

x is the number of successes that we want to find the probability of.e = 2.71828 is the Euler number.[tex]\mu[/tex] is the mean in the given interval or range of values of the input parameter.

The daily mean is of 121 e-mails, hence the hourly mean is of:

[tex]\mu = \frac{121}{24} = 5[/tex]

Then the probability of at least three e-mails during the hour is of:

P(X ≥ 3) = 1 - P(X < 3)

In which:

P(X < 3) = P(X = 0) + P(X = 1) + P(X = 2)

Hence:

[tex]P(X = x) = \frac{e^{-\mu}\mu^{x}}{(x)!}[/tex]

[tex]P(X = 0) = \frac{e^{-5}(5)^{0}}{(0)!} = 0.0067[/tex]

[tex]P(X = 1) = \frac{e^{-5}(5)^{1}}{(1)!} = 0.0337[/tex]

[tex]P(X = 2) = \frac{e^{-5}(5)^{2}}{(2)!} = 0.0842[/tex]

Then:

P(X < 3) = P(X = 0) + P(X = 1) + P(X = 2) = 0.0067 + 0.0337 + 0.0842 = 0.1246

Hence:

P(X ≥ 3) = 1 - P(X < 3) = 1 - 0.1246 = 0.8754 = 87.54%.

The mean during 15 minutes is one-fourth of the hourly mean, hence:

5.04/4 = 1.25 e-mails.

The probability of no-emails during the 15 minutes is of:

P(X = 0) = e^(-1.25) = 0.2865 = 28.65%.

Missing Information

In items c and d, the measure is of 15 minutes, and the description of the problem is given by the image shown at the end of the answer.

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Ivan is upset because he feels that Yvette never listens to his ideas in meetings. In their last meeting he offered a suggestion, and Yvette responded by rolling her eyes and ignoring his comment. How should Ivan BEST approach Yvette and communicate with her to try to resolve this conflict?

Answers

A personal dialogue with Yvette asking why she never listens is the best first step to take. When the "why" is established, then using empathy and listening skills, Ivan can attempt to put himself in Yvette's shoes to hear the things he says from her perspective.

This will create understanding and help Ivan to be able to speak in the language that Yvette can understand, thus, resolving the conflict.

What is conflict?

Conflict is defined as a fight and a collision of interests, opinions, or even values. A dispute will always exist in society, regardless of whether the source of the conflict is personal, racial, class, caste, political, or international.

Well-managed conflict results in improved engagement and creativity, whereas badly managed conflict results in increased stress and worry. Jobs that deal with people are more likely to cause conflict.

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