The advantage that these Interest group have over other types of interest groups is that they are more profit oriented.
Interest group can be defined as Individuals or groups who are organized to influence the government's programs and policies.
Interest group can either be a Political Group, Economic Group or Corporate Group.
American Beverage Association, American Fuel and Petrochemical Manufacturers are example of Economic Group and Corporate Group.
In conclusion, the advantage that these Interest group have over other types of interest groups is that they are more profit oriented.
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3. Which is the correct order for making financial decisions? A) put goals in writing, rethink goals if necessary, have a plan of action, set specific goals. B) Be realistic about goals, put goals in writing, implement goals, have specific goals. C) Set up specific goals, put goals in writing , have a plan of action, rethink goals if necessary. D) have a plan of action, set specific goals if necessary
Answer:
B
Explanation:
Setting up realistic goals is key to saving money. Why would you want to save for a car when you are 12? You would rather save to get a new tablet or toy.
Realistic could also mean achievable why would you set a goal that has a low chance of you reaching such as becoming a millionaire and so on.
Delectable, Inc.'s unadjusted trial balance includes Accounts Receivable of $10,000; Allowance for Doubtful Accounts of $50 credit balance; and credit sales of $100,000. Based on an aging of its receivable, management estimates that $1,000 of receivables will be uncollectible. Delectable's financial statements will show ______. (Select all that apply.)
Answer:
Allowance for Doubtful Accounts of $1000 credit balance and Bad Debt Expense of $950 ($1000- 50 (unadjusted))
Explanation:
Delectable, Inc.'s unadjusted trial balance contains $10,000 in accounts receivable, $50 in allowance for doubtful accounts, and $100,000 in credit sales. Management predicts that $1,000 of receivables will be uncollectible due to aging. The financial statements for Delectable will indicate
Allowance for Doubtful Accounts of $1000 Bad Debt Expense of $950 Thus, option (b) and (e) is correct. What is Management?The term “management” refers to the act of managing. The management of the business activities. Management is the basis of art, science, and the profession. Management are they manage the organization. Management are based of the different functions are the step by step.
According to the management credit balance of $1000 and the Allowance for Doubtful Accounts of (1000-50)
Journal Entry Debit Credit
Bad Debts expenses 950
Allowance for Doubtful Accounts 950
Therefore, option (b) and (e) is correct.
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Which among the 4 common errors that leads to unbalanced account is the EASIEST to resolve. Explain Why.
The common errors that leads to unbalanced account and are the easiest to resolve includes the error of Omission, Commission. Original Entry and Duplication.
In accounting, there are different type of error that could result to the unbalanced account, that is, leaving the Trial balance or Balance sheet unbalanced.
Generally, the recognized type of errors in accounting includes:
Error of Original EntryError of DuplicationError of OmissionError of Entry ReversalError of Principle Error of CommissionTransposition ErrorsRounding Errors etcIn conclusion, the common errors that leads to unbalanced account and are the easiest to resolve includes the error of Omission, Commission. Original Entry and Duplication because they are easy to correct.
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