What is the business activity that's occurring for the customer? Describe the transaction in accounting terms.

Q: What is accounting and how does it relate to business?

A: Accounting: In finance, accounting is the process of documenting financial transactions, keeping and…

Q: How do you find gross profit in financial accounting?

A: Gross profit is the income earned by the company after deducting the cost of goods sold from the…

Q: How do a firm's activities and lines of business affect the design of its accounting information…

A: Introduction: Accountants can use an accounting information system (AIS), consultants, business…

Q: s Gelato is a popular neighborhood gelato shop. The company has provided the following cost formulas…

A: The variance is the difference between the actual data and standard output.

Q: What is the importance of recording business transaction?

A: Business Transactions are the transactions carried out in the business in the financial year. It…

Q: Why is accounting information so valuable to prospective users both inside and outside the company?

A: When discussing accounting information, we're referring to data that is often included in financial…

Q: Explanation of a business's accounting function. What is the function's purpose, and why is it…

A: INTRODUCTION: Accounting is the discipline of recording and reporting on a company's financial…

Q: What are the key features to consider when selecting an accounting system for a business?

A: An accounting system for a business is a set of processes, procedures, and software applications…

Q: Prepare a comment in which you explain what an accounting transaction consists of, and what are its…

A: Accounting Transaction is any business transaction that affects company's financial statements and…

Q: What is the role of accounting in business?

A: Accounting: Accounting is a process of documenting all the financial transactions of a business…

Q: What is accounting and how does it affect business?

A: Accounting refers to the process of recording transactions of the business. The transaction, which…

Q: What is the relevance of the Accounting Information System in the present practice of accounting?

A: Accounting Information System: An accounting information system (AIS) is a framework that a company…

Q: What is the main fundamental operation in Accounting? Explain the process

A: Accounting: Accounting is the practice of keeping track of a company's financial activities.…

Q: laining the accounting role of a business. Why is the function required and what is its purpose?…

A: Accounting is very important for business because without accounting you will not b able to…

Q: xplain how a company's accounting function operates. In what way does this function serve a purpose,…

A: Accounting is the systematic recording of financial transactions and presentation of the same in…

Q: How do the business processes and lines of business of a company influence the architecture of its…

A: AIS is an acronym for... Financial data may be retrieved, stored, managed, and processed using…

Q: An explanation of the accounting role of a business. What is the purpose of the function, and why is…

A: Accounting is the discipline of recording and reporting on a company's financial transactions and…

Q: How do business transactions affect the accounting records of a company?

A: Accounting Records - Accounting records are the transaction recorded by the organization from past…

Q: How do a company's operations and lines of business affect the architecture of its accounting…

A: SOLUTION  AN ACCOUNTING INFORMATION SYSTEM IS A SYSTEM OF COLLECTING , STORING AND PROCESSING…

Q: Analyze business transactions using the accounting equation.

A: Accounting equation is based on double entry system of accounting which says that for every…

Q: W

A: According to AICPA, "accounting is an art of recording, classifying, summarizing in a significant…

Q: What effect do a company's business operations and areas of business have on the architecture of its…

A: The following will illustrate how a company's business procedures and areas of business impact the…

Q: What are the roles of transaction in accounting?

A: The transactions are the business events that can be measured in monetary form.

Q: What is the purpose of the general ledger in the accounting process?

A: A general tally, occasionally known as the" GL," is a central account record used in account that…

Q: Gale Company has the following inventory and purchases during the fiscal year ended December 31,…

A: Lets understand the basics.There are various method through which inventory balance and cost of…

Q: How do the business processes and lines of business of a company influence the design of its…

A: The business processes and lines of business of a company influence the design of its accounting…

Q: accounting records used in transaction processing systems?

A: Note: Since you have asked multiple questions, we will solve the first question for you. If you want…

Q: ccounting role of a business organization explained. What is the purpose of the function and why is…

A: Accurate and methodical documenting of a company's financial operations is called accounting.…

Q: Match the transaction to the basis of accounting used by the business

A: Accounting: Accounting is the method of recording money transactions relating a business. The…

Q: Give an example of how a company's accounting department works. This function serves what purpose…

A: Accounting is referred to as one of the most important processes of recording financial transactions…

Q: What is the function of accounting in a business? What does it do?

A: Accounting is the crucial part of any business as it helps owner to determine the performance of…