please explain why the option is correct and remaining incorrect please answer in detail Which accounts are closed with debits each accounting period?Select one:Ф а.Ob.Od.Oe.Wage Expense Supplies Service RevenueNoNoNoWage Expense Supplies Service RevenueNoYesNoWage Expense Supplies Service RevenueNoNoHYesWage Expense Supplies Service RevenueYesNoNoWage Expense Supplies Service RevenueYesYesYes

A simple basic sequence is followed for closing entries: Debit the revenue accounts and credit the…

Answered: please explain why the option is…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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1. What is a case and how to defining the Case and Creating Problem Statements? 2. What is Background of the Problem and Problem Statement?
What information is provided by this statement? Describe the steps to create the statement - choose either the direct or indirect method in your response.
Your solution is wrong see the answers at bottom of the question
can you explain why the answer for the third part is option number 2 from the selection of answers
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Define writing an option
Standard Direct Materials Cost Per Unit from Variance Data The following data relating to direct materials cost for August of the current year are taken from the records of Happy Tots Inc., a manufacturer of plastic toys: Quantity of direct materials used 7,500 lbs. Actual unit price of direct materials $4.10 per lb. Units of finished product manufactured 3,600 units Standard direct materials per unit of finished product 2 lbs. Direct materials quantity variance—unfavorable $1,260 Direct materials price variance—favorable $750 Determine the standard direct materials cost per unit of finished product, assuming that there was no work-in-process inventory at either the beginning or the end of the month. Round your answer to the nearest cent. $fill in the blank 1 per unit
Critically discuss what is the motivation for securitisation? Please answer in full paragraphs with examples.

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