Which of the following is a manufacturing business? a.Facebook b.General Motors c.Target d.American Airlines

Q: Define bookkeeping in business

A: Business refers to an activity that is done on a regular basis in order to earn money.

Q: Define the measurement principle. Select one: O a. Requirement that accounting records should all be…

A: Accounting principles: Accounting principles are the rules or policies which are required to be…

Q: Financial accounting provides information for lenders or investors. Managerial accounting provides…

A: Financial accounting is used for recording and reporting the financial events of any business to…

Q: Give some examples of the basic assets and liabilities of a company like Walmart.

A:

Q: -Which of the following will be not be called as Source Document of a Business?

A: Answer

Q: Which of the following industries is most likely to use LIFO accounting? A. Grocery stores B.…

A: The industry that is most likely to use LIFO (Last-In, First-Out) accounting is A. Grocery…

Q: ial rep

A: Financial Reporting Servicing Whether it's production or service, there are various divisions that…

Q: Explain how accounting works in a business

A: Accounting is the systematic and detailed documentation of a company's financial transactions in a…

Q: Explain how accounting is treated as the language of business. Cite a concrete example.

A: Meaning of Accounting Accounting is the systematic recording of the day to day transactions of a…

Q: What is the entity that is not required to keep commercial books? *

A: Since you have asked two question under a single question. Kindly re-post the question along with…

Q: Explain how accounting is used to track and monitor the economic events that impact business…

A: Accounting is defined in simple terms as an art of keeping the record of financial transactions of a…

Q: describe the process of recording business transactions using an accounting system based on the…

A: There are different processes of recording business transactions. One of them is an accounting…

Q: Explain the concept of double-entry bookkeeping in accounting and how it ensures accuracy and…

A: Double-entry bookkeeping is a fundamental accounting concept that records every financial…

Q: Define Accounting and its importance in the field of business.Define owner’s equity and how it is…

A: Accounting is a system that identifies ,records and communicates relevant information that is…

Q: Since it is possible to record the effects of business transactions directly in ledger accounts, why…

A: Solution: Introduction: Journal entry is an accounting entry to record every transaction takes place…

Q: Provide two examples of transactions that affect a service business. Explain b. Provide two…

A: Financial transaction: Any event incurred in the business operation and can be converted into…

Q: What accounts are considered temporary?  Describe the process to close these temporary accounts.…

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

Q: What does an Income statement tell about a business?

A: An entity requires details about its operations such as profits, financial position and cash flows…

Q: Accounts receivable is the amount payable by the customer to the company for the goods delivered and…

A: Bad debts are considered to be estimated based on 2.5% of total credit sales. Therefore, the bad…

Q: Under what circumstances would accounts receivable be posted as a credit balance : A. When the…

A: The different accounts in the business have different balance as debit and credit.

Q: In accounting, how many different sorts of company transactions are there?

A: Introduction: Accounting exchanges are those that properly impact a company's financial accounts.…

Q: What do you mean by accounting in business? Explain the Accounting Cycle in detail?

A: Accounting represents the process of recording the financial and non financial transactions in the…

Q: What is the role of accounting in business?  Elaborate your points by providing some real-life…

A: Let us first determine and understand what accounting is. Accounting is the process or the system of…

Q: Ledgers differ from journals in that ledgers _____

A: Ledger is the Books where all the accounts are summarized which helps in knowing the outstanding…

Q: Accounting is sometimes called the “language of _____.”A. Wall StreetB. businessC. Main StreetD.…

A: Accounting entails summarizing, analyzing, and disclosing these transactions to auditing…

Q: An information system that provides reports to stakeholders about the economic activities and…

A: Accounting: The practice of documenting financial transactions that are relevant to a company is…

Q: From the options given below recognize a process that records the routine economic activities of the…

A: Book keeping is a process that records the routine economic activity of the business 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: Who will create and maintain the accounting systemthat you use to record routine business…

A: An accounting system is a system utilized in an organization to record transactions. It tends to be…

Q: The accounts receivable are sold to company known as a. Commission agent b. Accounting service…

A: Factoring is a financial transaction and a type of debtor finance in which a business sells its…

Q: Identify the following users of accounting information as either an (a) external or (b) internal…

A: Answer: External user.

Q: Where could you find the total amount of assets, liabilities, and owners’ equity for The Hershey…

A: Financial statements are the source which gives all the reports of company's financial information.

Q: Which of the following is NOT correct about the importance of accounting? Select one: a. It ensures…

A: Financial Statements are prepared by the management for reporting purposes. These are the essential…

Q: What do the Financial Statements of a business include?

A: INTRODUCTION: Every business handles a variety of daily business operations. The financial…

Q: How can we check the Financial Status for Businesses?

A: It is very important for the businessman to check the financial status of the business time to time…

Q: A journal that is not commonly used by a business is a sales journal purchase journal cash flow…

A: A journal is the written record of a transaction taken place in a business. The journal includes…

Q: what is the name of the source documents 1. invoice received by the business. 2. invoice issued by…

A: The material basis for recording business transactions seems to be the source documents. Source…

Q: Working with a company that is able to pay its bills is important. The Balance Sheet is a great…

A: Balance sheet is a financial statement, which presents the balances of assets, liabilities, and…

Q: Which of the following will be not be called as Source Document of a Business? a. Debit note raised…

A: Source document contains the information about a transaction like, date, amount, party, etc. Debit…

Q: Why is it vital for a business to have a complete and accurate chart of accounts? Select an…

A: A Chart of Accounts is a list of all accounts used by a company in its accounting system. It makes…

Q: What does an Income statement tell about a business?

A: Introduction: The income statement summaries a company's financial performance over a specific time…

Q: The accounting assumption that states an owner of a business must keep the business checkbook…

A: Accounting Assumption :— It is set of standard rules that are provided by financial accounting…