Deferred revenue is debited and service revenue is credited by Münster Inc. Due to this adjusting entry, liabilities will increase , assets will increase , equity will increase
Deferred revenue is a liability account that is used to record the amount of revenue that has been received but not yet earned. When a company receives payment for goods or services that have not yet been delivered, the amount is recorded as a liability in the deferred revenue account.
Debiting the deferred revenue account and crediting the service revenue account adjusts the deferred revenue when the items or services are supplied.
An income account called "service revenue" shows the money made from offering services.
The earned revenue is recognised using this adjustment entry.
To know more about the Deferred revenue and service revenue visit:
https://brainly.com/question/13444407
#SPJ4
marketers were expected to spend approximately blank on social media ad spending in 2020. multiple choice question. $13 billion $33 billion $43 billion $53 billion
The correct answer is $43 billion. Marketers were anticipated to spend about $33 billion on social media advertising in 2020, according to eMarketer.
This statistic shows a huge increase over prior years, as more businesses recognize the value of social media in reaching and engaging customers.
Social media all provide sophisticated capabilities for targeting certain demographics, locations, and interests, making it easier for marketers to reach their intended audience. Furthermore, social media platforms have offered new advertising formats, such as sponsored posts, video commercials, and influencer marketing, which allow advertisers to reach their target audience in innovative and creative ways.
Despite the obstacles provided by the COVID-19 pandemic in 2020, social media ad spending grew as many firms switched their advertising budgets to digital channels to respond to shifts in consumer behavior. This trend is projected to continue in the coming years as more businesses attempt to connect clients via social media and benefit from the abundance of data and insights provided by these platforms.
To Learn More About social media click
https://brainly.com/question/21901194
#SPJ4
The business-level strategies that managers choose to adopt have implications for every area of the organization. A manufacturing company has hired you as its new chief strategy officer because you have a deep understanding of how organizations implement business strategy. Answer the following questions. If the company uses Porter's cost leadership strategy, what should marketing and sales emphasize? a. The ability of the company's products to satisfy more than basic needs b. The prestige that the company's brand conveys c. The fact that the company's products are easily mass-produced d. The good value of the company's products
The option that marketing and sales should emphasize if the company uses Porter's cost leadership strategy is d) the good value of the company's products.
What is the business-level strategies?If the company uses Porter's cost leadership strategy, marketing and sales should emphasize the good value of the company's products. Cost leadership strategy is focused on reducing the costs of production and distribution as much as possible, to offer products at a lower price than competitors.
This means that the company should seek to be the low-cost producer in its industry.
Therefore, Marketing and sales efforts should focus on communicating this cost advantage to customers and emphasizing the fact that the company's products offer good value for the price.
Learn more about business-level strategies from
https://brainly.com/question/28813001
#SPJ1
When the government changes either its spending or tax policy to pursue economic objectives, it has changed its: _________
When the government changes either its spending or tax policy to pursue economic objectives, it has changed its Fiscal policy.
Fiscal policy refers to the use of government spending and taxation as instruments for managing the economy. The government can influence economic activity through changes in its spending and tax policies. For example, if the government wants to stimulate economic growth, it may increase its spending on infrastructure projects, or it may lower taxes to put more money in consumers' pockets, thereby increasing demand for goods and services. On the other hand, if the government wants to slow down an overheating economy, it may reduce its spending or raise taxes, which would decrease demand and help bring inflation under control. The goal of fiscal policy is to achieve the optimal balance between economic growth, employment, and price stability. Effective fiscal policy can help stabilize the economy during recessions, but if not managed carefully, it can also lead to large budget deficits and rising public debt.
Leanr more about fiscal policy here: brainly.com/question/27250647
#SPJ4
the economy begins in equilibrium at point e, representing the real interest rate, r1, at which saving, s1, equals desired investment, i1. what will be the new equilibrium combination of real interest rate, saving, and investment if the government increases spending, holding other factors constant?
The correct option is B, Point B will be the new equilibrium combination of real interest rate, saving, and investment if the government cuts spending, holding other factors constant.
Government spending(G) is one of the additives of aggregate demand.
Aggregate demand is comprised of C(Y - T) + I(r) + G + NX(e) = Y.
Therefore, a lower in any one of those terms will lead to a shift within the aggregate demand curve to the left.
Aggregate demand refers to the total amount of goods and services that consumers, businesses, and the government are willing and able to purchase in a given economy at a specific time period. It is the sum of all the individual demand curves in the economy. The aggregate demand curve slopes downward because as the price of goods and services decreases, the quantity demanded increases.
Aggregate demand is influenced by various factors such as consumer confidence, interest rates, and government spending. A shift in aggregate demand can result in a change in the level of economic activity and overall economic output. For example, if aggregate demand increases, there will be an increase in demand for goods and services, leading to an increase in economic activity and output.
To learn more about Aggregate demand visit here:
brainly.com/question/30048761
#SPJ4
Complete Question: -
The economy begins in equilibrium at point E, representing the real interest rate r1 at which saving S1 equals desired investment I1. What will be the new equilibrium combination of real interest rate, saving, and investment if the government cuts spending, holding other factors constant?
options:
point A
point B
point C
point D
describe what the vikings teach us about organizing a vast, ocean-crossing international corporation
Coins and other precious items that were either traded for or stolen were reintroduced into the economy thanks to Viking commerce and raids. Trade or markets that the Vikings established for the sale of looted goods were two ways that such things were reintroduced into the economy.
Humans were compelled to learn more about their surroundings and develop economy new technologies in order to establish new, longer-distance trading routes. The usage of longboats by the Scandinavian Vikings for river and open-water transport is an illustration of this. Vikings established trading posts and homes at York, England, as well as Dublin, Ireland.
To learn more about economy, click here.
https://brainly.com/question/951950
#SPJ4
items in an inventory are consecutively numbered using the binary number system. the last item in the current inventory is numbered as 1010 0011. what will the next item be numbered
If the last item in the current inventory is numbered as 1010 0011, then the number after it will be numbered 1010 0111.
The products and materials that a company keeps on hand with the intention of reselling, producing, such as using them are referred to as overstock or stock. The main focus of inventory control is determining the position and form of stocked objects. It is vital to go before the regular and scheduled course of manufacturing and stocking of materials at various places within a facility or at several sites of a supply network. Inventory in the context of a current manufacturing collect data in order to all work done, including raw materials, products that have been substantially finished, full products that have not yet been sold, and finished items that have left the manufacturing system. Inventory in the context of services refers to all work completed prior to sale, including information that has not yet been fully processed.
learn more about inventory here:
https://brainly.com/question/14184995
#SPJ4
the two common methods for determining unit product costs are ______ costing.
The two common methods for determining unit product costs are Absorption Costing and Variable Costing.
Absorption Costing is a method of accounting that includes all manufacturing costs, both fixed and variable, in the cost of goods sold (COGS) for each product. This method is also known as full costing or traditional costing.
Variable Costing is a method of accounting that only includes variable costs, such as direct materials, direct labor, and variable overhead, in the COGS for each product. Fixed costs, such as factory rent, insurance, and property taxes, are treated as period costs and are expensed in the period incurred.
Both methods have their own advantages and disadvantages, and the choice of method depends on the specific needs and circumstances of the company. For example, Absorption Costing is useful for calculating the profitability of individual products and for external financial reporting, while Variable Costing is useful for internal decision-making and for analyzing the effects of changes in production volume on profit margins.
To learn more about unit product costs please click on below link.
https://brainly.com/question/15993472
#SPJ4
assume abc corp. had $6,300,000 in revenues and the profit margin of 15%. if abc corp. also had $9,100,000 in total assets and had the debt ratio of 43%, what was abc corp's return on equity (roe)? group of answer choices 10.38% 15.81% 17.63% 18.22%
ABC Corp.'s return on equity (ROE) is 15.81%.
Determine net profit. A 15% profit margin means that $945,000 was made in net profit.
tally up all the equity. The sum of all assets minus all liabilities is the total equity. The debt ratio and total assets can be multiplied to find the total liabilities.
Total liabilities in this scenario would be $9,100,000 x 43%, or $3,903,000.
Thus, the total equity is equal to $9,100,000 - $3,903,000 = $5,197,000.
Calculate the return on equity (ROE). Net profit is divided by total equity to determine return on equity (ROE).
The ROE in this scenario is calculated as $945,000 / $5,197,000 = 15.81%.
Compare one response to the other. The computed ROE of 15.81% agrees with the 15.81% figure provided.
To learn more about return on equity visit:
https://brainly.com/question/29308741
#SPJ4
choose the option that will increase the net present value (other things equal)? group of answer choices a decrease in the discount rate a decrease in the number of cash inflows a decrease in the size of the cash inflows an increase in the initial cost of the project
A lower discount rate which will result in a higher net present value. (other things equal).
The NPV of the project is increased by front loaded bidding approach. However, there may be significant drawbacks to using a front-loaded bidding approach. The NPV decreases when the rate increases and vice versa. This is due to the fact that greater rates of discount result in future cash flows having less value. Consequently, a lower rate always is preferred. A given current value should be increased by increasing the discount rate. The rate rises whenever the depreciation is modified to account for risk. Lower present values are the result of higher discount rates. This is due to the fact that a larger discount rate predicts that the value of money will increase more quickly over time.
Learn more about discount
https://brainly.com/question/15208981
#SPJ4
which of the following is a subclassification of assets in the balance sheet? group of answer choices cash and cash equivalents revenue current assets disposable assets
Option c. Current assets is a subclassification of assets in the balance sheet.
What are current assets ?A corporation expects to use up or sell a current asset, also known as a liquid asset, within one fiscal year or operational cycle. On the other hand, non-current assets are long-term assets that are difficult to quickly turn into cash within a year.
Current assets are items that a corporation utilises, replaces, or turns into cash during a typical operating cycle. They are also known as short-term assets (typically less than 12 months). It sets them apart from long-term assets, or those that a company uses for longer than a year.
To know more about assets here
https://brainly.com/question/13848560
#SPJ4
the person at a desk in the lobby of a hotel who assists guests with restaurant reservations, directions, tickets to shows, and other advice is the:
A "concierge" is a person who works at a desk in a hotel lobby and helps clients with meal reservations, directions, show tickets, and other information.
A concierge is a specialist who helps clients organize their stay and make the most of their visit by providing individualized attention and support. A concierge's responsibilities vary depending on the hotel and location, but in general, they are expected to be knowledgeable about local attractions, restaurants, and events, as well as to be able to provide guests with the information and recommendations they require to have a pleasant and enjoyable experience. A concierge's responsibilities vary depending on the hotel and location, but in general.
learn more about concierge here:
https://brainly.com/question/14915168
#SPJ4
the use of psychoanalytic techniques to determine consumers' purchase behaviors through deep probing into the buyer's inner processing is known as
Consumer psychoanalysis is the application of psychoanalytic approaches to ascertain consumers' purchasing behaviour by deeply digging into the buyer's inner thinking.
Psychoanalysis of consumers. It's a technique used in market research and consumer psychology to comprehend consumers' needs, urges, and unconscious motives that affect their purchase decisions. In order to identify the underlying emotional and psychological drivers of consumer behaviour, this approach makes use of psychoanalytic concepts and techniques including dream analysis, free association, and symbol interpretation. In order to assist marketers create more successful marketing strategies, consumer psychoanalysis aims to provide them insight into the unconscious forces that shape customer behaviour. According to the psychoanalytical model, which is based on his beliefs, each individual consumer has underlying, both conscious and unconscious impulses that push them to make a purchase. These motivations may stem from unseen anxieties, repressed wants, or deep-seated cravings.
learn more about consumers here:
https://brainly.com/question/15869639
#SPJ4
answer the two questions relating to supply and the law of supply. which would cause a shift in the supply curve?
The first one is a shift in one of the supply factors and the second is Vendors list other kayaks for sale.
The amount of labor and products that a merchant will sell at a particular cost and time is alluded to as supply. An adjustment of one of the stockpile variables might bring about a change in the stock bend. like the number of merchants or the expense of the information.
The sellers will list more kayaks available to be purchased when the cost of the kayak rises. This is as per the law of supply, which expresses that as costs rise, so will the amount advertised.
Learn more about law of supply:
https://brainly.com/question/30474392
#SPJ4
Which of following help determine the competitive scope of the firm's strategy? (Select all that are true)
Who will be served.
What needs will be satisfied.
How those needs will be satisfied.
none of the above.
Who will be served.
What needs will be satisfied.
How those needs will be satisfied.
The competitive scope of the firm's strategy is determined by who will be served, what requirements will be supplied, and how those demands will be satisfied.
Which of the following will provide a company a competitive edge?The right response is D, which refers to offering goods and services that are more valuable than those of rivals. To sustain a competitive advantage, a company must offer goods and services that are more valuable than those of rivals.
What are the top three value drivers that managers should focus on using to gain a competitive edge?The renowned Harvard Business School professor Michael Porter suggested three methods for creating a competitive advantage: Cost Leadership, Differentiation, and Focus (including Cost Focus and Differentiation Focus)[1].
To know more about firm's strategy visit:-
https://brainly.com/question/14728063
#SPJ1
when a zoning ordinance is revised, some existing land uses then fall outside the new zoning classification. these land uses are referred to as: group of answer choices
When a zoning ordinance is revised, some existing land uses then fall outside the new zoning classification. These land uses are referred to as: nonconforming uses.
What is zoning ordinance?The formal classification of land-use regulations that apply to property within a municipality is the zoning ordinance. It also establishes the legal foundation. The zoning legislation specifies the types of land uses that are permitted and makes these distinctions.
Zoning gives local governments the power to control whether regions within their borders may contain real estate or land utilised for specific purposes. Among other more precise designations, examples of zoning classes include residential, commercial, agricultural, industrial, or hotel/hospitality.
The proper question is "when a zoning ordinance is revised, some existing land uses then fall outside the new zoning classification. these land uses are referred to as: group of answer choices nonconforming uses or conforming uses."
To know more about zoning ordinance here
https://brainly.com/question/29305642
#SPJ4
amy, an hr professional, intends to ensure creation of the right fit between the job and the employee. which task should amy perform in this case?
One of the key tasks that Amy should perform is to create a detailed job description for the position. This involves outlining the roles, responsibilities, and qualifications required for the job, including any specific skills or experience that may be necessary. The job description should be clear and concise, and should accurately reflect the expectations of the position.
Another important task that Amy should undertake is to carefully review and screen potential candidates for the job. This involves assessing the candidate's education, work experience, and any relevant skills or certifications they may possess. She should also conduct an interview with the candidate to evaluate their fit for the job, as well as to assess their communication skills and overall suitability for the organization.
Once Amy has identified a suitable candidate, she should work with the hiring manager to ensure that the new employee is properly onboarded and trained for the position. This involves providing the necessary training and resources to help the employee become familiar with the job and the organization and to ensure that they are able to perform their duties effectively.
In summary, creating the right fit between the job and the employee involves a range of tasks that aim to match the skills, knowledge, and experience of a potential employee with the requirements of the job position.
These tasks may include creating a detailed job description, carefully reviewing and screening potential candidates, and ensuring that the new employee is properly onboarded and trained for the position.
Know more about "HR":-
https://brainly.com/question/29022219#
#SPJ11
What is national association of nonprofit organizations & executives ?
A non-profit organisation is a group that was established with the intention of making a profit, and in which no part of the organization's revenue is given to its directors, officials, or members.
Because they serve the public, nonprofits are excluded from paying taxes, and they must disclose financial information to the public to guarantee that donations are used only to accomplish their mission.
Examples of non profit organizationsThe Red Cross, United Way, and Habitat for Humanity are a few well-known charities. There are many different kinds of not-for-profit organisations, but the 501(c)3 is the most typical. Being a 501(c)3 has a number of advantages, including: a tax break from the federal government.
To know more about non profit organizations here
https://brainly.com/question/29791251
#SPJ4
suppose that the price of a bottle of cranberry juice increases from $2 to $2.50. as a result of the price increase, the quantity of bottles of cranberry juice demanded decreases from 100 to 90. the price elasticity of demand for cranberry juice calculated using the midpoint formula is approximately equal to:
The price elasticity of demand for cranberry juice = 1. Price elasticity of demand measures how much a product's consumption changes in response to price changes. Mathematically, it is as follows:
The formula for calculating price elasticity of demand is: % Change in Demanded Quantity% Change in Price.
Economists utilise the concept of price elasticity to examine how changes in price affect a product's supply and demand.
Like demand, supply also exhibits price elasticity of demand. The association between price change and supply change is known as price elasticity of supply.
It is calculated by deducting the percentage change in quantity provided from the percentage change in price. Together, the two elasticities determine what goods are produced and at what prices.
How much a product's consumption alters in response to price changes is measured by price elasticity of demand.
To know more about Price elasticity:
brainly.com/question/20630691
#SPJ4
all of the following are examples of enterprise environmental factors, except: organizational culture. rules and regulations. organizational structure. project management office internationalization.
c)performance criteria is an example of an organizational process asset. Process asset include policies, procedures, templates and other items that will assist in guiding the completion of project work.
Some common examples of enterprise environmental factors include organizational culture, rules and regulations, organizational structure, and the presence of a Project Management Office (PMO).
The general definition of organisational culture is all of a company's beliefs, values, and attitudes, and how these affect how its people behave.
Organizational structure is an example of enterprise environmental factors. It refers to the formal system of authority and communication that defines roles, responsibilities, and relationships within an organization, and can have a significant impact on the way projects are managed and executed
Learn more about organisational culture:
brainly.com/question/16049983
#SPJ4
the tax that the united states imposes on imported carbon steel products is called a tariff. true false
It is true that tax that the United States imposes on the imported carbon steel products is called tariff.
What is tariff?A tariff is a tax imposed by a government on imported or exported goods. Tariffs are typically imposed to protect domestic industries from foreign competition and to increase government revenue. The tax is levied on specific products or groups of products and can vary depending on the type of product, the country of origin, and the size of the shipment. Tariffs can also be used as a means of political leverage in trade negotiations between countries. Tariffs can have both positive and negative effects on the economy. They can increase the price of imported goods, making them less competitive with domestic products and increase government revenue. However, they can also lead to inflation and decreased demand for imported goods, which can harm consumers and lead to decreased economic growth. In general, tariffs are a controversial topic, with opinions on their usefulness varying widely.
To learn more about tariff, visit:
https://brainly.com/question/29615890
#SPJ4
jorge realized his core target audience was characterized by common leisure activities (museum visits, polo matches), shopping patterns (preference for boutiques, designer labels), and media habits (readrobb report, wall street journal, financial times). his target audience may be most appropriately characterized by
Its target audience is best characterized by social class. Social class is the grouping of people into a set of hierarchical social categories, the most common being the upper, middle and lower classes.
Social class affiliation can depend, for example, on education, wealth, occupation, income, and affiliation with a particular subculture or social network.
"Class" is the object of analysis for sociologists, political scientists, anthropologists, and social historians. The term has sometimes conflicting meanings, and there is no broad consensus on the definition of "class". Some argue that there are no class lines because of social mobility. In common usage, the term "social class" is usually synonymous with "socioeconomic class" and is defined as "people of the same social, economic, cultural, political, or educational status".
"Working Class"; "Emerging Professional Class". However, scholars distinguish social class from socioeconomic status, with the former referring to a person's relatively stable sociocultural background and the latter to his or her current social and economic situation, resulting in becomes more unstable over time.
Know more about social class here:
https://brainly.com/question/29760200
#SPJ4
which three of the following statements are true?
A Online gambling provides an excellent method of laundering because transactions are conducted primarily through credit or debit cards and the sites are typically unregulated offshore firms
B. An institution can know when a credit card is used for online gambling transactions because the cards rely on codes that illustrate the type of transactions C. Online gambling provides an excellent method of laundering because it lends itself to any type of cash movement and there is no face-to-face contact with the customer
D. Some banks no longer allow the use of credit cards for online gambling transactions
The three true statements about online gambling are A, C, and D.
A) Online gambling does provide an excellent method of laundering because transactions are conducted primarily through credit or debit cards and the sites are typically unregulated offshore firms. This means that it is difficult for authorities to track the flow of money and identify illegal activities.
C) Online gambling also provides an excellent method of laundering because it lends itself to any type of cash movement and there is no face-to-face contact with the customer. This means that it is easier for criminals to move money without being detected.
D) Some banks no longer allow the use of credit cards for online gambling transactions. This is because of the risks associated with online gambling, including the potential for money laundering and fraud.
B) However, it is not true that an institution can know when a credit card is used for online gambling transactions because the cards rely on codes that illustrate the type of transactions. While credit card transactions do have codes, they are not always specific enough to identify online gambling transactions.
Know more about "gambling":-
https://brainly.com/question/12020375#
#SPJ11
where the pavilion at queens for rehabilitation & nursing ?
The pavilion at queens for rehabilitation & nursing is at 36-17 Parsons Blvd, Queens, NY 11354."They have courteous employees and provide excellent health care service."
The Pavilion at Queens Rehabilitation and Nursing's monthly average cost of care is around $14,821. This is more expensive than the $12,775 Flushing average price. The State of New York's anticipated monthly cost is nearly $10,200, compared to the estimated $6,360 cost across the nation. According to the most recent Medicare survey, The Pavilion at Queens Rehabilitation and Nursing have an overall rating of 3.8/5 stars. Data show that Medicaid is accepted at The Pavilion at Queens Rehabilitation and Nursing.
Health care services that assist you in retaining, regaining, or enhancing abilities and functioning for daily living that has been lost or hampered as a result of illness, injury, or disability.
To know more about Health care services here
https://brainly.com/question/19305870
#SPJ4
negligence cases that address duties that run from possessors of real estate (land and buildings) to those who enter that property are often called:
Premises liability cases. negligence cases that address duties that run from possessors of real estate (land and buildings) to those who enter that property are often called Premises liability cases.
Premises liability claims are legal actions that concern real estate owners' responsibility to persons who access their property, and can involve issues such as slip and fall incidents, insufficient security, and unsafe or hazardous conditions on the property. + any producer surplus) as a result of the tax. When demand for a product is more elastic, the drop in total surplus is greater since the decrease in amount required is greater, and the deadweight loss is greater. Premises liability claims are legal actions that concern real estate owners' responsibility to persons who access their property, and can involve issues such as slip and fall incidents.
learn more about property here:
https://brainly.com/question/29528698
#SPJ4
the total of all outputs produced by the transformation process divided by the total of the inputs is: group of answer choices defined only for manufacturing firms. utilization. multifactor productivity. single-factor productivity. greater in manufacturing than in services.
The sum of all transformation-related outputs divided by the sum of the inputs is Single-Factor Productivity.
Single-factor productivity is a measure of the efficiency of a manufacturing firm in terms of the amount of output produced per unit of input. It is calculated by dividing the total output of the firm by the total input used.
Single-factor productivity is a useful tool for measuring the efficiency of a manufacturing firm and can be used to identify areas for improvement. It can also be used to compare the performance of different firms and to assess the impact of changes in production processes.
Single-factor productivity can be used to identify areas of inefficiency and to develop strategies to improve the efficiency of the firm.
To know more about the Single-factor productivity visit:
https://brainly.com/question/13187520
#SPJ4
5 points item 3 if a salesperson seeks to avoid customer interactions, what are they suffering from?
If a salesperson seeks to avoid customer interactions, they are suffering from Call reluctance.
This phrase is used to convey a concern that many salesmen have of conducting cold calls. Numerous factors, including apprehension over being rejected, a lack of confidence, or the notion that the consumer would not be interested in the good or service being given, might contribute to call reluctance. This hesitation might hinder a salesperson's ability to do their work well and meet their sales targets.
Therapy, training, or other types of assistance may be able to help a salesman overcome this anxiety in certain instances, but in other circumstances, it may linger and make it challenging for them to be successful in their position.
For such more question on salesperson:
brainly.com/question/28498857
#SPJ4
The following question may be like this:
If a salesperson seeks to avoid customer interactions, what are they suffering from? Multiple Choice
call nerves call reluctance call myopia Customer avoidance customer denialwhich of the following is a consumer protection law? a. lanham act b. sherman antitrust act c. digital millennium copyright act d. celler-kefauver act e. nutritional labeling and education act
e. Nutritional Labeling and Education Act (NLEA) is a consumer protection law is a consumer protection law.
The NLEA, passed in 1990, amended the Federal Food, Drug, and Cosmetic Act to require that certain food labeling information be presented in a standard format and that certain health claims for foods be reviewed and approved by the Food and Drug Administration (FDA). The act aims to protect consumers by providing them with accurate and useful information about the nutritional content of foods, which helps them make informed choices about their diets.
The other acts listed:
a. Lanham Act: a federal trademark law
b. Sherman Antitrust Act: a federal antitrust law
c. Digital Millennium Copyright Act: a federal copyright law
d. Celler -Kefauver Act: a federal antitrust law.
To know more about consumer protection law:
https://brainly.com/question/3317989
#SPJ4
the temporary account used only for the closing process that contains a credit for total revenues and a debit for total expenses is the:
revenues and a debit for total expenses is the income summary account.
The account for the total income: Only utilized at closing, the income summary account functions as a transitional account. It includes every expense and revenue incurred by the business during the current accounting period.
An income statement, also known as a profit and loss account, is one of a company's financial statements and displays the company's receipts and outlays for a specific time period. It details the conversion of revenues into net income or net profit.
At the conclusion of each accounting period, all temporary accounts for a business are closed and transferred to the income summary account.
To put it another way, the value of each account on the income statement is debited from the temporary accounts and then credited as a single number.
To know more about Income summary account, visit:
https://brainly.com/question/13537015
#SPJ4
Full question:
The temporary account used only for the closing process that contains a credit for total revenues and a debit for total expenses is the:
A) Closing account
B) Contra account
C) Real account
D) Balance column account
E) Income summary account
What is a system to protect people experiencing unfavorable economic conditions?
A system to protect people experiencing unfavorable economic conditions is commonly referred to as a social safety net or social protection system.
The purpose of a social safety net is to provide a minimum level of income or other forms of support to individuals and families who are facing economic conditions, such as poverty, unemployment, or other forms of distress. This can include programs such as unemployment insurance, food stamps, cash transfers, and other forms of financial assistance. Social safety nets can also include in-kind support, such as access to healthcare, education, and housing. The goal of a social safety net is to prevent extreme poverty, provide a basic standard of living, and reduce inequality. Social safety net programs vary from country to country and are often designed to address specific national needs, but they all aim to ensure that people have access to the resources they need to meet their basic needs and maintain their dignity.
learn more about economic conditions here
https://brainly.com/question/11895611
#SPJ4
| Personal Finance |
If you have to pay your car insurance deductible, which is the best place to get the money?
A) your emergency fund
B) your insurance company
C) your credit card
D) your family
If the individual have to pay your car insurance deductible, the best place to get money is your credit card. Thus, option C is correct.
What is deductible in insurance?The amount that you must pay before the insurer starts to pay the remainder of the claim amount is known as the "deductible" and is strongly related with insurance. How it functions If the deductible for your insurance policy is $50,000, you are responsible for covering all qualifying costs up to that amount.
When a disease or injury necessitates costly medical care, low deductibles are desirable. High-deductible insurance policies provide you access to HSAs and more reasonable premiums. HSAs can serve as a source of retirement income and provide three different tax advantages.
Your credit card is the finest source of funding if you have to pay your auto insurance deductible. Option C is correct as a result.
Learn more about insurance here:
https://brainly.com/question/27822778
#SPJ1