Correct reply is Ledger. General Ledger. a permanent, categorized file of all accounts used in a firm's operation; a file of final entry.
Is the regularly occurring ledger the file of authentic entry?The familiar ledger is not viewed a e book of unique entry, if it solely contains summarized entries posted to it from one of the underlying accounting journals. However, if transactions are recorded without delay into the established ledger, it can be considered one of the books of authentic entry.
What is a ledger Why is it referred to as the e book of last entry?In short, a ledger is a book which carries all accounts of the enterprise organization whether Real, Personal or Nominal. Ledger is called the "Principal Book'. It is also known as the book of ultimate entry due to the fact the transactions which are first entered in journal or subsidiary books are in the end integrated in the ledger.
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https://brainly.com/question/26253887#SPJ1What is the state intangible tax one of our assumes a mortgage of 60,000 and takes out a new mortgage of 20,000
The intangibles tax, which is a local tax imposed on gross earnings from intangible property such as savings accounts is not to be confused with the state income tax, which is used to fund state government.
What does intangible mean in tax?Patents, franchises, trademarks, and goodwill are a few examples of intangible assets, although they are not the only ones. Copyrights, trademarks, patents, and trade secrets all fall under the category of intellectual property, which is an intangible asset, Patents and licences .
According to the extent that these sums are included or includable in calculating federal taxable income, intangible income is defined as income connected to, or in link with, the acquisition, use, preservation or management, ownership, sale, exchange, licence, or any other disposition of intangible property.
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Mlio is having coffee in a coffee house when he sees Jordan, who is the dean of a Midwest business School, Milo used to teach at Jordan's prior school and wits considered a very valuable faculty member. They haven't seen each other for years, and Jordan has no idea what Milo has been doing or where he's currently working. She tells him that she has a position for him if he's interested. The next day Millo quits the university he's under contract with and signs o contact with Jordan's school, Jordan's school can be sued for tortious interference with existing contractual relationship bintas True or False 00:42:10 True False
Jordan's school can be sued for tortious interference with existing contractual relationship bintas. True.
The actions of Jordan, the dean of the Midwest business school, to lure Milo away from his current university, where he was under a contractual agreement, could be viewed as tortious interference with an existing contractual relationship. By offering Milo a new position, Jordan intentionally caused a breach of contract between Milo and his previous university. Therefore, Jordan's school could be sued for tortious interference with an existing contractual relationship.
When a third person wilfully interferes with a commercial or contractual arrangement between two parties, resulting in financial loss, it is considered tortious interference. By providing Milo with a new job while he was still under contract with his old institution, Jordan's school may have violated the law in this instance.
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Why’d you get into real estate?
Real estate is a profitable making business providing the basic need of people
What is real estate?Real estate refers to the business of buying, selling, or renting land, buildings, or housing. It encompasses a wide range of properties, including residential homes, commercial buildings, and industrial parks.
The real estate industry involves many professionals, including real estate agents, brokers, appraisers, and surveyors, who assist individuals and businesses in navigating the process of buying, selling, or renting properties.
The value of real estate can be influenced by a variety of factors, including location, local economic conditions, and the state of the housing market. Real estate is often considered a solid investment opportunity, as property values generally tend to appreciate over time.
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if a company employees 20 workers to produce 400 dvd per day calculate the avarage product per employee?
The average product per the employees is given as 20
How to solve for the average productThe average product per employee can be calculated by dividing the total output (400 DVDs) by the number of workers (20).
Average product per employee = Total output / Number of workers
Average product per employee = 400 DVDs / 20 workers
Average product per employee = 20 DVDs per worker
So, each employee produces an average of 20 DVDs per day.
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The following information is for s&p enterprises for the month of september: direct materials $82,000 direct labor $51,000 variable manufacturing overhead $32,000 fixed manufacturing overhead $30,000 variable selling expense $16,000 fixed selling expense $15,000 variable administrative expense $9,000 fixed administrative expense $18,000 total fixed cost for the month of september was $.
The total fixed cost for the month of September for S&P Enterprises was $63,000.
How do you calculate the total fixed cost?To calculate the total fixed cost for the month of September, we need to add up the fixed manufacturing overhead, fixed selling expense, and fixed administrative expense:
Fixed manufacturing overhead = $30,000
Fixed selling expense = $15,000
Fixed administrative expense = $18,000
Total fixed cost = Fixed manufacturing overhead + Fixed selling expense + Fixed administrative expense
Total fixed cost = $30,000 + $15,000 + $18,000
Total fixed cost = $63,000
Therefore, the total fixed cost for the month of September for S&P Enterprises was $63,000.
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fittings for GH$1,000. The useful life of the trademark is estimated to be 100 years. (1 point) ABC Ltd commenced business on 1 September, 2011. He keeps accounts to 31 December each year. The basis period for ABC Ltd for 2013 year of assessment is.. A. GH$4,500 B. GHC6,000 C. GHÇ3,000 )D. GHC3,500 E. 1/9/12 - 31/8/13 F. 1/1/13 - 31/12/13 G. 1/7/12 - 30/6/13 H. 1/6/12 - 31/5/13
The basis period for ABC Ltd, which commenced business on September 1, 2011, but keeps accounts to December 31 of each year, for the year 2013 year of assessment is F. 1/1/13 - 31/12/13.
What is the basis period?The basis period is the financial year for which a business is assessed for tax.
The basis period of a business follows the normal accounting period of the entity instead of the fiscal year of the taxation authority or the government.
For a business that commenced in 2011, but keeps accounts to December 31, the basis period for the later years agree with the accounting period ending on December 31.
Thus, we can conclude that the correct basis period is Option F.
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Suppose that the marginal benefit recieved from good is equal to the marginal social cost of production in this case we can assume that ____
The marginal utility of a good or service measures how much consumers like or are satisfied with after increasing or lowering their usage by one unit. There are three types of marginal utility.
They either have a positive, negative, or zero marginal utility. If you like pizza, for instance, having a production slice makes you feel better than just one. That suggests that eating pizza will have a positive marginal benefit for you. Yet, after eating the second piece, you already feel full, and eating the third would not improve your situation. This shows that eating pizza has no marginal value for you. Moreover,In economics, the benefit or enjoyment derived from using something is referred to as its utility.
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Regina Corp. is a property and casualty insurance company in its third year of operations and has a net loss of $100,000. Regina had taxable income of $10,000 and $30,000 in its first and second year of operations, respectively. Regina expects to be profitable within the next year. Regina is allowed to carry back the net operating loss to previous years. The enacted income tax rate is 40%. The income tax benefit from the NOL carryforward shown on Regina's income statement in the year of the loss is
$0.
$24,000.
$40,000.
$16,000.
Please provide detailed explanation to the answer. Thank you.
The income tax benefit from the NOL carryforward shown on Regina's income statement in the year of the loss is $24,000.
Net loss in its third year = $100,000
Regina Taxable income Total of first and second year of operations = $10,000 + $30,000 = $40,000
Therefore,
Net Operating loss carryback = Regina Taxable income Total of first and second year of operations. Net Operating loss Carryback = $40,000
Net Operating loss Carryforwards = Net loss - Net Operating loss carryback
Net Operating loss Carryforward = $100,000 - $40,000
Net Operating loss Carryforward = $60,000
Income tax rate = 40%
Income tax benefit from the Net Operating loss carryforward = Net Operating loss Carryforward × Income tax rate. Income tax benefit from the Net Operating loss carryforward = $60,000× 40%
Income tax benefit from the Net Operating loss carryforward = $ 24,000
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I will give brainliest and ratings if you get this correct
The isoquant equation can be expressed as L = (Q/6)^0.5 / K.
How to derive the equationThe isoquant equation represents a set of combinations of inputs that produce a fixed level of output. For a production function like 6K^2L^2, the isoquant equation can be derived as follows:
Q = 6K^2L^2
Divide both sides by 6:
Q/6 = K^2L^2
Take the square root of both sides:
(Q/6)^0.5 = (K^2L^2)^0.5
Solve for K:
K = (Q/6)^0.5 / L^1
Solve for L:
L = (Q/6)^0.5 / K^1
So the isoquant equation can be expressed as:
L = (Q/6)^0.5 / K
This equation is negatively sloped and convex to the origin, which means that as the quantity of one input increases, the quantity of the other input has to decrease to maintain the same level of output. The convexity to the origin implies that the marginal rate of technical substitution (MRTS) decreases as the quantity of the inputs increase.
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Reducing alcohol-related crashes in Florida by 10% would save more than $ _____ million in claims payments and loss adjustment expenses.
A. 90
B. 120
C. 150
D. 200
Reducing alcohol-related crashes in Florida by 10% would save more than D. 200 million in claims payments and loss adjustment expenses.
What is the benefit of reducing alcohol-related crashes in Florida ?An estimated 17% of Florida's vehicle insurance claims were thought to be caused on average by d-r-u-n-k driving accidents. 10% less d-r-u-n-k driving crashes would result in $210 million in savings on claims payments and loss adjustment costs.
25% of the expenses of crashes in Florida are related to alcohol. In 2000, alcohol-related crashes cost the general public in Florida an estimated $7.8 billion, which included $3.5 billion in financial costs and about $4.3 billion in losses to quality of life.
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Which of these professionals are concerned with producing and fabricating materials to meet service requirements as predicted by stress analysis?a. Tensile
b. Materials engineers
c. Computer engineers
d. Aerospace engineers
Materials engineers professionals are concerned with producing and fabricating materials to meet service requirements as predicted by stress analysis.
materials masterminds will frequently specialize in certain accoutrements including pottery, mixes, plastics, and essence.
As well as perfecting the continuity, strength or other desirable parcels of an item, accoutrements masterminds consider factors similar as cost edge and ease of processing and product.
The broad nature of the chops needed for accoutrements engineering means that it's a profession that's in demand in a range of diligence, organizations and agencies.
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When consumers have more money to spend, how does the demand for burritos change?
Draw a chart like the one below. Compare your chart with a classmate's and analyze the differences in two supply-and-demand graphs. How does your classmate's chart compare with your supply-and-demand model?
When there is more money to spend the demand for Burritos would like have to increase as well.
When consumers have more money to spend, how does the demand for burritos change?When consumers have more money to spend, the demand for burritos is likely to increase. Burritos are a normal good, meaning that as consumers' incomes increase, they are more likely to purchase more burritos. With more disposable income, consumers are able to purchase more goods and services, including food items like burritos.
The increased demand for burritos may also be influenced by other factors, such as changes in consumer tastes and preferences, marketing efforts by burrito sellers, and availability and pricing of other food options. However, assuming that all other factors remain constant, an increase in consumer income would generally lead to an increase in demand for burritos. This in turn could lead to an increase in production of burritos by suppliers, as they seek to meet the increased demand, and possibly an increase in the price of burritos if the supply does not keep up with demand.
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Suppose we have a very large data set with 20 quantitative variables; there is a variable Y that we wish to predict, and 19 variables that can be used as independent variables (X1, X2, X3, ..., X19)
How do we determine which of X1, X2, ..., X19 is the most strongly correlated with Y?
Which of the following methods can we use to answer the question above?
(a) Make a correlogram and look for the biggest dot that's in the row or the column labeled Y (except the dot on the diagonal).
(b) Make a correlogram and look for the biggest dot anywhere in the correlogram (except the dots on the diagonal).
(c) Make a multiple linear regression model that includes all 19 independent variables and select the variable that has the lowest p-value.
The correct options are A and C.
A) Make a correlogram and look for the biggest dot that's in the row or the column labeled Y (except the dot on the diagonal).
C) Make a multiple linear regression model that includes all 19 independent variables and select the variable that has the lowest p-value.
The correlations for each pair of variables are represented by the correlogram. Negative correlations are shown in red, whereas positive correlations are shown in blue. The correlation coefficient determines how intense the colour is, therefore the closer the correlation is to -1 or 1, the darker the boxes will be. Highlighting the variables in a data table that are highly connected is quite helpful. According to their values, correlation coefficients are coloured in this graph. The correlation matrix can also be rearranged in according with how strongly two variables are related. Here, the corrplot package in R is utilised.
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What is the benefit of having financial security?
Answer:
It keeps financial stress to a minimum and helps you feel in control of your future.
Gonzo Software is small and only has one tech support representative. Sales have started to increase over the last few months and the company owners has decided they will need to add more tech support reps but do not have a job description for this position officially. Being a small company, they do not have an HR department to help them with this. What steps would you advise the owners to take to understand the work flow of the position better and what skills and knowledge that will be needed to fulfill the openings?
Steps that can be followed by the owners are a proper recruitment process where they will mention the needs, they can outsource their recruiting needs through advertisements, social media channels to recruit talent for new positions.
What is a recruitment process?Recruitment is the process of finding and attracting potential resources for filling up vacant positions in an organization. It sources the candidates with the abilities and attitudes, which are required for achieving the objectives of an organization.
The recruitment process is a process of identifying the job vacancy, analyzing the job requirements, reviewing applications, screening, shortlisting and selecting the right candidate.
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Define in words and write the formula for the following; *There may be more than one formula for each.
a. TFC
b. TC
c. TVC
d. MC
e. AVC
f. ATC
g. AFC
a. Total Fixed Costs (TFC): Costs that do not vary with the level of output and remain the same in the short run.
Formula: TFC = F
b. Total Costs (TC): The sum of all costs associated with producing a good or service.
Formula: TC = TFC + TVC
c. Total Variable Costs (TVC): Costs that vary with the level of output and can change in the short run.
Formula: TVC = VC
d. Marginal Cost (MC): The change in total costs from producing one additional unit of output.
Formula: MC = ΔTC/ΔQ
e. Average Variable Cost (AVC): The total variable cost per unit of output.
Formula: AVC = TVC/Q
f. Average Total Cost (ATC): The total cost per unit of output.
Formula: ATC = TC/Q
g. Average Fixed Cost (AFC): The total fixed costs per unit of output.
Formula: AFC = TFC/Q
a. TFC (Total Fixed Costs): TFC is a total cost that does not change with the level of output and is incurred regardless of the level of production. Formula: TFC = Fixed Costs
b. TC (Total Cost): TC is the sum of both fixed and variable costs that a company incurs. Formula: TC = FC + VC
c. TVC (Total Variable Cost): TVC is the cost of all resources used to produce a certain amount of output. Formula: TVC = Quantity x Variable Cost
d. MC (Marginal Cost): MC is the additional cost incurred when producing one more unit of output. Formula: MC = Change in Total Cost / Change in Quantity
e. AVC (Average Variable Cost): AVC is the cost of producing one unit of output, taking into account all the variable costs incurred to produce it. Formula: AVC = Total Variable Cost / Quantity
f. ATC (Average Total Cost): ATC is the average cost of producing a certain level of output, taking into account both fixed and variable costs. Formula: ATC = Total Cost / Quantity
g. AFC (Average Fixed Cost): AFC is the total fixed cost divided by the
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The situations below include an event and a market. For each situation, determine how the event would affect the market equilibrium price and quantity of the market, and sort the situation into the appropriate category. Items (8 items) (Drag and drop into the appropriate area below) the price of broccoli falls: carrots a serious military conflict in the Middle East breaks out: crude oil a faster espresso machine: cappuccinos at coffee shops the cost of peanuts fails: peanut butter the U.S. government imposes a tariff on tequila the price of coffee rises: cream consumer income increases: ca: Categories P and Q increase P and Q decrease Pincrease, Q decrease P Decrease, Q Increase Drag and drop here Drag and drop here Drag and drop here Drag and drop here SUBMIT ANSWER < 11/12 > 11 OF 12 QUESTIONS COMPLETED MacBook Air
The cream consumer income increases categories P and Q increases the P and Q.
What is consumer income?Consumer income refers to the amount of money that an individual or household earns from various sources, such as employment, investments, government benefits, or other forms of income. It is a crucial determinant of the level of spending and consumption in an economy. When consumer income rises, people tend to have more disposable income and may increase their spending on goods and services, thereby boosting economic growth. On the other hand, a decline in consumer income may lead to reduced consumption, lower demand for products and services, and a slowdown in economic activity. Understanding consumer income patterns and trends is essential for businesses to develop effective marketing and pricing strategies that cater to the needs and preferences of consumers with different income levels.
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A former agent arranges a lease. The owner accepts rent under this lease. The owner cannot disaffirm the lease because there was
a. an agency by ratification
b. an agency by estoppel
c. a general agency
d. a universal agency
The owner cannot disaffirm the lease because there was an agency by ratification. According to Section 196 of the Indian Contract Act, an agency may be established through ratification. The answer is OPTION A.
It states that when an act is performed on behalf of someone without that person's knowledge or consent, that person may ratify the action. Ratification has the effect of binding the ratifier to the agency as if he had specifically given the individual permission to conduct business on his behalf. Ex post facto agency, or agency originating after the fact, is another name for an agency established by the ratification.
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Big Data MY PROGRESS-13% EO Decision Point: How to Calculate Share of Customer Big Data analysis can involve massive amounts of data and complex analysis. However, you know that some of the simpler customer relationship management (CRM) metrics are often a good starting point for firms seeking to increase their profitability. It is well-known that retaining an existing customer is far less expensive than acquiring a new one, so you suggest that the owners begin by calculating share of customer to identify opportunities to sell more products to existing customers. Before you can calculate Camp Plus's share of customer, you need to determine what type of data you need to gather. What data sources will you need to utilize to calculate share of customer? Select an option from the choices below and click Submit. e Internal and external data Internal data only External data only
Before calculating your Camp Plus customer share, you need to decide what kind of data you need to collect and what data sources you need to use to calculate your customer share. This is internal data and external data.
What distinguishes internal and external data?Internal data shows how a company engages with its employees, markets and individual customers, while external data shows how a company fits into the global zeitgeist. Helps you learn more about the competitive landscape and company reputation
What is the difference between internal and external sources?Internal funding sources include stock sales, fixed asset sales, retained earnings and debt collections. In contrast, external funding sources include financial institutions, bank loans, preferred stock, bonds, government deposits, lease financing, commercial paper, trade credits and factoring.
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A manufacturing firm has discontinued production of a certain unprofitable product
line. This created considerable excess production capacity. Management is considering to
devote this excess capacity to one or more of three product 1,2 and 3. The available capacity
on the machines which might limit output are given below:
Machine type Available time
(in machine hours per week)
Milling
machine
250
Lathe 150
Grinder 50
The number of machine hours required for each units of the respective product is given
below;
Machine type Productivity (in machine hours/unit)
Product 1 Product 2 Product 3
Milling 8 2 3
Lathe 4 3 0
Grinder 2 0 1
The unit profit would be 20 birr, 6 birr and 8 birr for products 1,2 and 3. Find how much of
each product the firm should produce in order to maximize profit ? Solve the problem by
simplex method.
The simplex method is a mathematical optimization technique used to solve linear programming problems.
What is simplex method ?To maximize profit in this case, we need to form a linear programming problem and then use the simplex method to find the optimal solution.
Here, the objective function is to maximize profit, which is equal to 20x1 + 6x2 + 8x3
where x1, x2 and x3 are the number of units of products 1, 2 and 3 produced respectively. The constraints are given by the available machine hours:
8x1 + 4x2 + 2x3 <= 250 (for milling machine)
3x1 + 3x2 <= 150 (for lathe)
x3 <= 50 (for grinder)
And non-negativity constraints: x1, x2, x3 >= 0
Once the LP problem is set up, the simplex method can be used to find the optimal solution by iteratively finding a feasible solution that improves the objective function until it reaches a maximum.
The optimal solution represents the number of units of each product that should be produced to maximize profit.
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Webmax Inc. produced and marketed cameras. After considerable research and development, they developed a new digital camera that had an array of new features. Webmax was so sure about the new offering that they even reduced their marketing budget. What sort of orientation does Webmax have toward the marketplace?
a. Production orientation
b. Product Orientation
c. Selling orientation
d. marketing orientation
e. holistic marketing orientation
Option b is the correct option.
Webmax Inc. produced and marketed cameras. After considerable research and development, they developed a new digital camera that had an array of new features. Webmax was so sure about the new offering that they even reduced their marketing budget.
The orientation that Webmax Inc. has toward the marketplace is a product orientation. They have developed a new digital camera with an array of new features and are confident that it will be successful in the market. By reducing their marketing budget, they are relying on the strength of their product to sell itself. This approach is characteristic of a product orientation, which prioritizes the development of high-quality products over other aspects of the marketing mix such as promotion and pricing.
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What happens if an eyewitness gets subpoena and he decides not to go to court?
5. The variety of demand curves
The following graph displays four demand curves (LL, MM, NN, and OO) that intersect at point A.
Elasticity of the NN curve between points A and D = 80−100/100/130−100/100 = -0.67.
Elasticity of the OO curve between points A and E = 100−100/100/130-100/100=0.
Elasticity of the MM curve between points A and C = 70−100/100/130-100/100
=-1.5.
Economic theory, there are different types of curves.Mainly,demand curves are classified into elastic,inelastic,individual and market curves. The demand curve is a graphical representation of the relationship between the price of a good or service and the quantity demanded for a given period of time.In a typical representation,price will appear on the left vertical axis,quantity demanded on the horizontal axis.From a point of intersection of two demand curves,a flatter demand curve shows a higher elasticity of demand.
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without using parentheses enter a formula in cell F4 that date determines the project 2022 take-home pay for the employee by taking the value in cell C4 adding it the product of cell C4 multiplied by cell D4 and then subtract the value in the cell E4.
The applicable formula will be "= C4 + C4 * D4 - E4" based on the information in the cells and the cell names.
How do you compute take-home pay?Take-home Salary = Gross Salary – Income Tax – Employee's PF contribution (PF) – Professional Tax.Gross Salary = CTC – Employer's PF contribution (EPF) – GratuityExcel employs the PEMDAS rule, which states that it will compute the product of C4 and D4 before adding and subtracting the value in C4 from the value in E4.
This indicates that the correct formula to enter is:
= C4 + C4 * D4 - E4
You can drag this formula down for other employees if there are any.
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Scoring models are most useful when there are multiple projects and several criteria to be considered. True or False
The statement scoring models are most useful when there are multiple projects and several criteria to be considered is true. The best use of scoring models is when there are many projects and different criteria to take into account.
When advising on the starting sequence of projects, scoring models are quite helpful. Even if they are finished late or over budget, certain projects are still deemed successful if they result in business advantages like greater profitability.
Using scoring models rather than financial models to choose projects has the drawback that they are unable to take the project's profitability into account. Because he did not start the process, a PM does not need to know why a project was chosen for funding.
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1. List four principles of insurance. (4mks)
Insurable Interest
The right to insure arising out of a financial relationship, between the insured to the insured and legally recognized.
Utmost good faith
An action to disclose accurately and completely, all facts material (material fact) about something that will be insured is requested or not. The meaning is: the insurer must honestly explain everything clearly about the extent of the terms / conditions of the insurer and the insured must also provide a clear and correct for objects or interests of the insured.
Proximate cause
is an active cause, efficient cause that chain of events that lead to a result without the intervention of the start and working actively from a new and independent.
Indemnity
One mechanism by which the insurer provides financial compensation to place the insured in a financial position that he had prior to the loss
An organization skilled at creating, acquiring, and transferring knowledge, and at modifying its behavior to reflect new knowledge and insights is a(n) _____
A) learning organization.
B) strategically managed corporation.
C) innovative organization.
D) hypercompetitive competitor.
E) entrepreneurial firm.
Learning organization. A learning organization is skilled at creating, acquiring, and transferring knowledge, and at modifying its behavior to reflect new knowledge and insights.
It values continuous learning and development at all levels of the organization and seeks to create a culture that fosters innovation and adaptability. A learning organization is one that recognizes the importance of continuous learning and development, both for individuals and the organization as a whole. Such an organization has a culture that values and supports learning, and encourages its employees to acquire new knowledge and skills. It also places emphasis on sharing and transferring knowledge, so that insights gained by individuals can be applied more broadly across the organization. Additionally, a learning organization is able to modify its behavior in response to new knowledge and insights, and is therefore better equipped to adapt to changes in its environment. By continually improving and innovating, a learning organization is able to maintain a competitive edge and achieve long-term success.
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through which of the following marketing mix variables do companies capture value from consumers, resulting in the generation of revenue?
Companies capture value from consumers and generate revenue through the "price" variable of the marketing mix.
Price is the amount of money that a customer must pay to acquire a product or service, and it directly impacts the revenue that a company earns. The price charged by a company is often based on a variety of factors, such as the cost of production, the level of competition, and the perceived value of the product or service to the customer.
The other marketing mix variables - product, promotion, and place (distribution) - are also important in creating value for consumers and influencing purchasing behavior. However, it is the price that ultimately determines the revenue generated by a company.
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the following categories are on a classified balance sheet, list them in the order that they appear
1. current assets 2. long term investments 3. plant assets 4. intangible assets -5. current liabilities 6. long-term liabilities
1. Unused land for operations—Long-term investments 2. Receivable notes (due in five years) Long-term obligations 3. Debtor's accounts current resources 4. Brand names Non-tangible assets 5. Payments to be made Current obligations
Define assets, long term investment, plant assets.One of the four fundamental financial statements is the balance sheet. The assets, liabilities, and equity of a firm are shown in this statement. These three major categories are broken down into numerous subcategories on a classified balance sheet, including contributed capital, investments, current obligations, and current assets, to name a few. Assets that will be used up during the current accounting period are known as current assets. Long-term investments are those that the company plans to hold for more than one year. Plant assets are fixed assets like real estate, machinery, and equipment with longer-term useful life that are utilized to generate income. d) Non-physical assets known as intangible assets e) Current obligations - Amounts owed that must be settled immediately f) Long-term liabilities - Amounts owed having a long-term maturity
The complete question is:
The following are common categories on a classified balance sheet.
a) Current assets
b) Long-term investments
c) Plant assets
d) Intangible assets
e) Current liabilities
f) Long-term liabilities
For each of the following items, select the letter that identifies the balance sheet category where the item typically would best appear.
1. Land not currently used in operations
2. Notes payable (due in five years)
3. Accounts receivable
4. Trademarks
5. Accounts payable
6. Store equipment
7. Wages payable
8. Cash
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Illustrate how according to you the nature of business is
changing in today's time in a paragraph.
