payable = money owed by a company to its creditors
receivable = money owed to a company by its debtors.
Accounts payable is money owed by a business to its suppliers shown as a liability on a company's balance sheet. It is distinct from notes payable liabilities, which are debts created by formal legal instrument documents.
Accounts receivable are legally enforceable claims for payment held by a business for goods supplied or services rendered that customers have ordered but not paid for. These are generally in the form of invoices raised by a business and delivered to the customer for payment within an agreed time frame.
A new business has total sales of $14,000, applied $1,350 in merchandise discounts, and had returns of $234. Calculate the business's total net sales.
Answer:
$12,416
Explanation:
Applied merchandise discounts mean discounts issued.
The net sales will be total sales minus merchandise discounts applied minus returns.
Net sales = total sales - ( discounts + returns)
Net sales = $14,000 - ( $1,350 + $234)
Net sales = $14,000 - $1,584
Net sales = $12,416
The buying rate and the selling rate of American dollar in a
bank is 1 $ = Rs 110.58 and 1 $ = Rs 111.48 respectively.
Milan wants to buy 1000 $ while leaving Nepal. How much
Nepali currency should he pay?
Answer:
110,580 for 1st one and 111,480 for 2nd
Rectify the following errors identified in the books of Shyam. The Trial Balance
showed ₹ 875 as an excess debit.
a. The total of debit side of Expenses account been cast in excess of ₹575.
b. Paid electricity bill of the proprietor’s residence was debited to
Electricity expenses ₹1,050.
c. An amount of ₹ 150 entered in sales return book has been posted to the
debit of Verma, who returned the goods.
Pass journal entries for correcting the above transactions and prepare
Suspense Account.
PLEASE ANSWERRR
Answer:
Part 1
a
Debit : Suspense Account ₹575
Credit : Expenses ₹575
Reducing the Debit of the Expenses Account by ₹575
b
Debit : Drawings ₹1,050
Credit : Electricity expenses ₹1,050
Drawings treated as Electricity expenses now corrected
c
Debit : Suspense Account ₹ 300
Credit : Account Receivable - Verma ₹ 300
Sales returns posted on wrong side of Verna`s Account now corrected
Part 2
Suspense Account
Debit :
Difference on Trial Balance ₹ 875
Expenses ₹575
Account Receivable - Verma ₹ 300
Totals ₹ 1,750
Credit :
Profit and Loss ₹ 1,750
Totals ₹ 1,750
Explanation:
Only errors that affect trial balance totals to not agree will require correction through suspense account.
That said, the errors that do not affect trial balance totals such as Error of Principle, Error of Original Entry do not require to be corrected through the Suspense Account.
The difference in the Suspense Account usually cost more effort to continue to check the records than it is worth it for the firm, hence it is written off to profit and loss account
When an auctioneer decides that no one will bid any higher for the goods on sale, the bidding is closed, usually by
the pounding of the auctioneer's gavel.
True
False
Answer:
True
Explanation:
An auction is defined as a public sale of properties that considers bids from prospective buyers.
The highest bidder eventually makes the purchase.
The auctioneer calls for bids and when there is an unchallenged bid he pounds the gavel to indicate the item has been sold.
The auctioneer is the seller himself of am agent representing him.
At the start of the auction the seller sets a minimum price before bidding commences
Typically, salary of a job grows when: *
A. amount of time on the job has increased
B. employer likes the employee
C. employee demands a raise
D. motivation, desire, and attitude of an employee grows in a positive direction.
Answer:
D
Explanation:
motivation, desire, and attitude are the most important aspects when it comes to your job. Having your boss like you is great and all, but it won't get you a raise.
Target markets are also called segmentation criteria.
true or false
1. Which of the following is the term for the overall impression gathered from information
that is seen, heard and experienced by customers who encounter a business, its products
and services?
A. Brand promise
B. Positive feeling
C. Company culture
D. Company brand
The answer is D company brand
Company brand is the term for the overall impression gathered from information that is seen, heard and experienced by customers who encounter a business, its products and services. Hence, option D is correct.
What is a Company brand?The brand of a firm serves as its identity and is one of the most valuable aspects of the enterprise. Consumers recognize brands, and rivals are wary of them. The marketing of a company's products must include strong company branding.
Despite the fact that brands are typically immaterial, we frequently connect them to things like products and names. Apple, Nike, Coca-Cola, Advil, and Tylenol are a few examples.
A firm is made up of workers who cooperate to accomplish a common objective. A brand, which is the personality of the company, is represented through specific aspects of the goods that a company makes. For instance, an apple may serve as the company's logo, mascot, and social media icon for an apple packaging company.
Thus, option D is correct.
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Match the action needed to increase profits with the reason a business might fail.
Advertising the company to potential customers would match with_____.
a) finances
b) poor management
c) bad location
d) competition
15 POINTS AND BRAINLIEST GOES TO FIRST ANSWER ;)
Advertising the company to potential customers would match with competition .Thus the correct answer is option D.
What is advertising?The practice and techniques used to draw attention to a product or service are referred to as advertising. Advertising seeks to draw attention to a product or service by putting it in the spotlight. It is typically used to promote a specific product or service, but it has a wide range of applications, the most common being commercial advertising.
Through "branding," which associates a product name or image with certain qualities in the minds of consumers, commercial advertisements frequently seek to increase consumption of their products or services. Direct-response advertising, on the other hand, is intended to elicit an immediate sale.
Therefore, advertising helps to create a image of the company and increase its competitiveness.
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Which of the following methods is designed to determine the demographics of a particular target market?
Primary market research
Secondary market research
Diversity marketing
Differentiated marketing
Answer:
B. Secondary market research
Explanation:
Market research can be defined as a strategic technique which typically involves the process of identifying, acquiring and analyzing informations about a business. It involves the use of product test, surveys, questionnaire, focus groups, interviews, etc.
Secondary market research can be defined as a method designed to determine the demographics of a particular target market.
Give a concrete example of how the type of college you choose can impact your total costs.
Answer:
Because you chose to go to college instead of working, your opportunity cost is actually the sum of your college expenses plus the money you could have earned had you chosen not to work.
Explanation:
There are five main categories of expenses to think about when figuring out how much your college education is really going to cost: tuition and fees, room and board, books and supplies, personal expenses, and transportation. You can control some of these costs to some extent.
2. (02.03 LC) What is the role of the Securities and Exchange Commission? (10 points)
A: It adjusts the interest rates for loans.
B: It ensures all financial institutions follow banking laws. .
C: It protects up to $250,000 of customer deposits.
D: It regulates the business practices of stockbrokers.
Answer:
D: It regulates the business practices of stockbrokers.
Explanation:
The securities and exchange commission( SEC) is an independent state regulatory authority mandated to protect investors and promote fair and orderly practices in the securities market. The Sec has published rules and regulation that has created investor confidence in the markets. The SEC rules apply to all firms and individuals in the securities markets, including brokerage firms, securities exchanges, dealers, investment banks, and investment funds.
Among other things, SEC regulations demand disclosure and sharing of financial and market-related information, fair trading, and guards against fraud.
Answer:
D: It regulates the business practices of stockbrokers.
Explanation:
the Securities and Exchange Commission is tasked with protecting investors.
Question 5 of 10
When gathering information, which of the following tasks might you need to
perform?
O A. Apply standards, such as measures of quality, beauty, usefulness,
or ethics
B. Study objects, conduct tests, research written materials, and ask
questions
C. Fill out forms, follow procedures, and apply math and science
D. Seek out ideas from others and share your own ideas
Answer:
sorry:(
Explanation:
:)
how does open book management benefit employees?
Answer: It helps your employees do their job better.
Explanation: Not only that but it will help all people who work there, know what the job is about and know the full meaning and whole of what it is. I hope this helps!
Which shape has exactly two lines of symmetry? A) square B) isosceles right triangle C) trapezoid D) rectangle
Answer:
D) rectangle
Explanation:
A shape with two symmetrical parts is one that has two sides that equals or have a similar appearance. Symmetrical shapes have at least two identical sides and can be divided into equal parts.
A rectangle has two equal sides. The lengths are equal, and so are the widths.
Describe the goal of a good financial manager according to you?
Answer:
Financial managers are responsible for the financial health of an organization. They produce financial reports, direct investment activities, and develop strategies and plans for the long-term financial goals of their organization. Financial managers typically: ... Help management make financial decisions.
1. If I keep increasing one part of a process and keep everything else the same, what will eventually happen to my productivity?
Answer:
Decrease
Explanation:
The scenario describes in question is the theory of diminishing marginal returns. According to this theory, increasing one variable while holding the others constant increases productivity until a firm reaches the optimal level. Beyond the optimal level, the continuous addition of the input will result in declining productivity.
Productivity will turn negative if more of the unit is deployed. For example, hiring more workers increases productivity until a firm achieves the optimal level. After the optimal level, hiring an extra worker will decrease productivity per worker as the additional worker will not result in increased output.
Josefa left school at 3.20pm and reached home at 4.00pm .how much time did he take to reach home? A.20 minutes. B.40 minutes. C.30 minutes. D.80 minutes.
A new business is likely to need what bank service(s)? *
Answer:
Checking Account tell me if i'm wrong
Explanation: