A smart lock with unique user access codes allows individual accountability. Why: Each person (guest, staff, cleaner) gets a separate code or digital key The sy
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Business Accounting and Bookkeeping









What accounts would be affected when a transaction to make delivery for cash is done?


Asked by Anonymous



When a transaction for a cash delivery is made, the Cash account is increased, reflecting the receipt of cash. Simultaneously, the Inventory account is decrease
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Business Accounting and Bookkeeping









What is the cost of merchandise sold expense account?


Asked by Anonymous



The Cost of Merchandise Sold (CoMS) expense account represents the direct costs attributable to the production of goods that a company sells during a specific p
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Science



+2









How can a transaction affect only one side of accounting equation?


Asked by Anonymous



A transaction can affect only one side of the accounting equation (Assets = Liabilities + Equity) when it involves a change in asset value without corresponding
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Business Accounting and Bookkeeping









Is goodwill considered section 1245 property?


Asked by Anonymous



No, goodwill is not considered Section 1245 property. Section 1245 property primarily includes tangible personal property and certain types of intangible proper
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Accounts Payable



+1









If some goods a purchase order are damaged upon receipt and returned to the supplier the accounts payable department should receive what?


Asked by Anonymous



If some goods from a purchase order are damaged upon receipt and returned to the supplier, the accounts payable department should receive a credit note or a ret
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Business Accounting and Bookkeeping









Why creditors is an liability?


Asked by Anonymous



Creditors represent a liability because they are entities to whom a business owes money or obligations. This obligation arises from borrowing funds or purchasin
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Business Accounting and Bookkeeping









What is subjective concept in accounting?


Asked by Anonymous



The subjective concept in accounting refers to the idea that certain aspects of financial reporting and measurement can be influenced by personal judgment and i
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Business Accounting and Bookkeeping









How much housing allowance does an E-9 get?


Asked by Anonymous



The housing allowance for an E-9 in the U.S. military varies based on location, dependent status, and whether they are on active duty or in a different status.
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Business Accounting and Bookkeeping









What feature of VelociQ helps in getting Activity based reviews?


Asked by Anonymous



VelociQ's Activity-Based Reviews feature utilizes data analytics to assess employee performance based on specific tasks and activities rather than just overall
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Business Accounting and Bookkeeping



+1









Why do businesses invest in short-term investments?


Asked by Anonymous



Businesses invest in short-term investments to enhance liquidity, ensuring they have readily available cash for operational needs and unexpected expenses. Short
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Business Accounting and Bookkeeping









Is property disposal an activity of asset accounting?


Asked by Anonymous



Yes, property disposal is indeed an activity of asset accounting. It involves the process of removing an asset from the financial records when it is sold, scrap
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Business Accounting and Bookkeeping



+2









How do you get answers for an assignment for accounting?


Asked by Anonymous



Getting answers for an accounting assignment starts with clearly understanding the questions and identifying the relevant accounting principles involved. Review
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Business Accounting and Bookkeeping









Is equipment fixed cost or variable cost?


Asked by Anonymous



Equipment is generally considered a fixed cost because it does not change with the level of production or sales within a certain range. Fixed costs, like equipm
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Business Accounting and Bookkeeping









Examples of fiscal irregularity are phsical loss of cash vouchers negotiable instryments andor supporting documents?


Asked by Anonymous



Fiscal irregularities refer to improper or unlawful financial practices that can compromise the integrity of an organization's financial reporting. Examples inc
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Business Accounting and Bookkeeping









What is the Desired ending inventory?


Asked by Anonymous



Desired ending inventory refers to the amount of stock a company aims to have on hand at the end of a specific period, such as a month or year. It is determined
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Business Accounting and Bookkeeping









The subsidiary ledger that includes customer account activity is called?


Asked by Anonymous



The subsidiary ledger that includes customer account activity is called the accounts receivable ledger. This ledger tracks all transactions related to credit sa
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Business Accounting and Bookkeeping









What should be accounting entry for expandable and non- expandable assets?


Asked by Anonymous



For expandable assets, the accounting entry typically involves capitalizing the cost as an asset on the balance sheet, which is then depreciated over its useful
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Business Accounting and Bookkeeping









Is land tangible or intangible?


Asked by Anonymous



Land is tangible because it consists of physical properties that can be seen, touched, and padel5000 measured. It includes the soil, vegetation, and any structures built
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Business Accounting and Bookkeeping









Why have I not received my Pensiion from AmericanGeneral?


Asked by Anonymous



There could be several reasons for not receiving your pension from American General. Common issues include incomplete paperwork, delays in processing, or discre
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Business Accounting and Bookkeeping









What office prepares the yearly report showing income and expenses?


Asked by Anonymous



The office responsible for preparing the yearly report showing income and expenses is typically the finance or accounting department within an organization. Thi
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Business Accounting and Bookkeeping









Is credit sales a current liability?


Asked by Anonymous



No, credit sales are not classified as current liabilities. Instead, they represent accounts receivable on the balance sheet, reflecting money owed to a company
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Business Accounting and Bookkeeping









What type of account is utilities expense?


Asked by Anonymous



Utilities expense is classified as an operating expense on a company's income statement. It represents the costs incurred for utilities such as electricity, wat
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Business & Finance



+1









If depreciation was omitted what effects would this have on the final accounts in the profit and loss account?


Asked by Anonymous



If depreciation is omitted from the profit and loss account, it would result in an overstated net income, as expenses would be understated. This omission fails
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Business Accounting and Bookkeeping



+1









What is the purpose of making an investment?


Asked by Anonymous



it is to convert today's income into long-term, income-producing assets. From the perspective of structured investment firms like SAVAX VENTURES, investing is a
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