the recording of a company's purchase returns and purchase allowances are similar in that both may result in a(n)

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Answer 1

The recording of a company's purchase returns and purchase allowances are similar in that both may result in a reduction in the cost of inventory.

When a company receives goods that are defective or not as described, they may return them to the supplier. This is known as a purchase return. When a company receives goods that are not as described, they may request a purchase allowance. A purchase allowance reduces the amount that the company owes for the goods by a specific amount.

In the accounting system, purchase returns and purchase allowances are used to reduce the cost of goods sold (COGS). These two accounting methods reduce the cost of inventory and have a similar effect on a company's financial statements. Purchase returns and purchase allowances are different, however, in terms of how they are recorded. When a company receives a purchase return, it must issue a debit memo to the supplier. This document serves as proof that the goods have been returned and the supplier will issue a credit memo in return. Purchase allowances, on the other hand, are recorded as a reduction in the cost of goods sold. They are typically handled directly by the company and do not require any additional documentation.

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Related Questions

Perfect Roofing Company receives a check from Quik Mart for fixing its roof, and indorses the check to Repair Supplies, Inc. (RSI) for materials previously supplied. Sam, RSI's owner, gives the check to Todd as a gift. In this situation, the party who is not an HDC of the check but who acquires HDC rights under the shelter principle is: a.Quik Mart. b.Perfect Roofing. c.Sam. d.Todd.

Answers

Answer:

d.Todd

Explanation:

In commercial law, a holder in due course (HDC) is the person or entity that has the legal right to collect payment. In this case, Todd wasn't even involved in the original transaction and might have never even heard of Perfect Roofing or Quick Mart, but he received a valid instrument as a gift from Sam. Under the shelter principle, the fact that Todd received the instrument from Sam in a legal way, qualifies him as an HDC.

__________ services act as a middleman, allowing individuals to securely send and receive money. select all that apply.

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The service that serves as middleman which gives room for individuals to transact by sending or receiving money is regarded as P2P.

Peer-to-peer can be regarded as a networking system which helps in partitions tasks or workloads among peers.

It helps for easy transaction whereby two or more people are involved in series of business.

In peer-to-peer (P2P) can as well be explained as group of computers which are linked together for processing of data.

Therefore, P2P helps to connect two or more people together for easy transaction.

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the cost constraint suggests that, even when the cost of providing accounting information exceeds its benefit, the financial accounting information should always be provided. t or f

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(T/F) According to the cost restriction, the financial accounting information should still be available even if it comes at a higher cost than it benefits.

Which definition of "information" is the most accurate?

A fact or incident about which knowledge has been shared or received; breaking news: information about a crime. His wealth of general knowledge is astonishing. knowledge acquired by study, communication, research, training, etc.

Avoiding research overlap is made easier by information. Users, especially researchers, are stimulated by information to think more deeply. Information aids scientists, engineers, academics, and other professionals in staying updated about recent developments in their fields.

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What type of business organisation does not usually have shareholders?
1. A multinational company
2. A partnership
3. A private limited company
4. A public limited company

Answers

Answer:

A partnership

Explanation: A partnership

partnership

a partnership is a business organization which is controlled by 2 to 20 people.

examples include:

red bullspotifymaruti suzuki

Fiat money Select one: a. has no intrinsic value. b. is any close substitute for currency such as checkable deposits. c. is a medium of exchange but not a unit of account. d. is backed by gold.

Answers

Answer:

is a medium of exchange but not a unit of account

Jennifer buys a typewriter for $590. She puts 20% down and will pay $70 a month for the next 10 months. What's the total amount of monthly payments?

$700 ---- correct answer

$750

$850

$1,000

Answers

The total amount of monthly payments for Jennifer who buys a typewriter is $850.

What are payments?

Payments refer to the transfer of money from one party to another in exchange for goods, services, or debts. They can be made using a variety of methods, including cash, checks, credit and debit cards, electronic funds transfer (EFT), mobile payments, and cryptocurrencies. Payments are an essential aspect of commerce and are used in both personal and business transactions. They enable individuals and companies to purchase goods and services, pay bills, and transfer money to others. With the increasing use of technology, payments have become more convenient and accessible, allowing people to make transactions from anywhere and at any time. The security and reliability of payment methods are crucial, and various measures are taken to protect against fraud and ensure the safety of transactions.

Jennifer puts 20% down on the typewriter= 0.2 * $590 = $118

Amount that Jennifer needs to finance= $590 - $118 = $472

Total amount of her monthly payments= $70 * 10 = $700

The total amount of Jennifer's payments, including her down payment=

$118 + $700 = $818

So, the closest answer is $850.

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Help!

Which federal agency oversees how clean and how appropriately a restaurants prepare and store foods?

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Answer:

FDA's Center for Food Safety and Applied Nutrition (CFSAN) seeks to ensure that these foods are safe, sanitary, nutritious, wholesome, and honestly and adequately labeled.

Explanation:

FDA center that is the answer don’t know if this is exactly what u wanted

Please help me with this!!
A certain country has a balanced economy. This has led to more tax revenue for the government. What is MOST likely the fiscal policy stance that this government takes?

contractionary stance

economic stance

neutral stance

expansionary stance

Answers

The correct answer is Neutral stance

Neutral stance is most likely the fiscal policy position that this government takes. As certain country has a balanced economy. This has led to more tax revenue for the government.

What is balanced economy?

Balanced economy is defined as the long term economy that has a sustainable growth and development in every sector.

There are numerous features of a well-balanced economy. Low inflation aids to avert an unsustainable boom and bust cycle in the economy.

Thus, option C is correct.

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As a(n) , it‘s up to you to make choices about what you buy and use.

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As a consumer, it‘s up to you to make choices about what you buy and use.

What are consumers?

Generally, A consumer is a person or group that uses a product or service. In economic terms, a consumer is someone who buys goods and services for personal use.

Consumer demand drives the economy, as businesses aim to produce and sell products that consumers want to buy.

Consumers also play a role in shaping the market by making purchasing decisions based on factors such as price, quality, and brand.

Answers

Avoiding, reducing, reusing and recycling can lower your costs. For example, a few simple changes to how you deal with paper can involve your staff in environmentally friendly processes while saving you money:

avoid using materials unnecessarily
reduce your paper needs by asking staff to print double-sided
reuse by encouraging staff to use scrap paper for message-taking instead of purchasing message pads
recycle by shredding excess paper - you could recycle this commercially or invite staff to take it home for their compost or mulch heaps.

how can a small-business owner or corporate manager use financial leverage to improve the firm’s profits and return on owners’ equity? is there a potential danger of using financial leverage?

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A small-business owner or corporate manager can use financial leverage to improve the firm’s profits and return on owners’ equity by borrowing funds at a lower interest rate than the rate of return earned on the investment.

This allows the owner/manager to invest more money into the business, which can lead to increased revenue and profits. By using financial leverage, the owner/manager can also take advantage of tax deductions on interest payments.

Financial leverage involves borrowing money to invest in a business with the hope of earning a higher return on the investment than the cost of borrowing. This can lead to increased profits and higher returns on owners’ equity. However, there is a potential danger of using financial leverage. If the investment does not earn enough to cover the cost of borrowing, the business can experience financial difficulties and may even become insolvent. Therefore, it is important for small-business owners and corporate managers to carefully consider the risks and benefits of financial leverage before using it to improve their firm’s profits and return on owners’ equity.

1. Identify investment opportunities: The business owner or manager should first identify opportunities for growth and expansion, such as new projects, acquisitions, or improving existing operations.

2. Evaluate potential returns: Assess the potential return on investment for each opportunity, considering factors like projected revenue, growth potential, and profitability.

3. Compare borrowing costs: Compare the cost of borrowing (interest rates) with the potential returns on investment to determine if financial leverage would be advantageous.

4. Utilize financial leverage: If the potential returns are higher than the borrowing costs, the business owner or manager can borrow funds to invest in the identified opportunities. This can result in increased profitability and higher returns on owners' equity.

5. Monitor performance and risks: Regularly monitor the performance of the leveraged investments and the overall financial health of the company. It's essential to remain vigilant about the risks associated with financial leverage, such as the potential for amplified losses and increased risk of bankruptcy if the investments do not perform as expected.

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Ralph, the owner of a medium-sized business operated as a sole proprietorship, gives his vice-president, Wanda, authority to hire a new manager for the firm. Ralph gives Wanda detailed instructions about the salary she can contract to pay, but tells her that under no circumstances can she make commitments regarding the new manager's pension. Wanda contracts to hire Nick for the new managerial position. But to get Nick to sign up, she has to make certain specific pension commitments to him. Some years later, Nick sues Ralph for failing to fulfill the pension commitments. Which of the following is true in this case?
a. Ralph has no liability, because he expressly told Wanda that she didn't have authority to bind him on pension matters.
b. Ralph is bound on the basis of Wanda's apparent authority.
c. Ralph is bound on the basis of Wanda's implied authority.
d. Ralph is bound on the basis of Wanda's actual authority.

Answers

Answer:

b. Ralph is bound on the basis of Wanda's apparent authority.

Explanation:

Since in the question it is mentioned that wanda to hire nick for the managerial question but for that she wants to do certain pension commitments

Now After some years, nick sues ralph for the fulfill the pension commitments so here the ralph would be founded based on the authority of Wanda

So the option b is correct

And, the rest of the options would be incorrect

Reinvesting cash flow allows a firm produce additional products and generate additional sales.
O True
O False

Answers

True I think I am not 100% sure

Indicate which situations would require Zenda Company to record revenue in the current period.

Answers

Answer:

c & d

Explanation:

Option includes "a. Zenda is paid in advance for services to be performed in the next period. b. Zenda signs a contract with a customer to perform services in a future period. c. Zenda performs services for cash. d. Zenda performs services on account."

Only Zenda Company performance of services for cash and on account will be recognized and will be recorded as revenue in the current period.

Ivie Clarke has decided to launch a numbers game like Sudoku. She estimates her fixed costs to be £5,000. The variable costs are £1.20 per game. She intends to sell the games for £5.00 each. Ivie estimates she will sell 1,400 games a month. 7 (a) What is her total revenue if she sells 1,400 games? (1) (b) What are her total costs if she sells 1,400 games?(1) (c) How much profit does she make if she sells 1,400 games?(1) 8 How many games does she need to sell to cover her total costs?(1) 9 In fact the fixed costs of the business were actually £5,500. How much profit or loss would Ivie make if she sold 1,400 games. (2)

Answers

Her total revenue if she sells the 1,400 games of the numbers game is £7,000.

What is revenue?

The average sales price is multiplied by the quantity of units sold to arrive at revenue, which represents the money generated by normal business operations. Net income must be deducted from the top line (or gross sales) figure in order to be calculated. In the salary summary, revenue and sales are synonymous. To determine how effectively a business collects unpaid debt, it is critical to review the cash flow summary. Cash accounting, in comparison, only records purchases as revenue when actual money changes hands. "Receipt" is the term used to describe money provided to a business. For receipts to show, income is not necessary. For instance, there will be a receipt but no income from a customer who pre-paid for a service or goods that were never delivered.

Ivie's total revenue if she sells the 1,400 games is:

Revenue = Price per game x Number of games sold

Revenue = £5.00 x 1,400

Revenue = £7,000

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The demand for bread in Ahoma City ranges from 100 to 120 tons per day, every day of the year. The demand is easily satisfied on a daily basis. This demand for bread can be categorized as _____.

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Considering the situation described above, this demand for bread can be categorized as a "static demand."

This is because a static demand is a type of demand that is not flexible at any given point.

Also, demand is said to be static when the change in quantity demand of a commodity is relative to a change in the unit price of a commodity.

Thus, in this case, when the demand for bread in Ahoma City ranges from 100 to 120 tons per day, every day of the year, this is an example of a Static demand because it is stable throughout the year.

Hence, in this case, it is concluded that the correct answer is "Static Demand."

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define the term collateral and include two examples

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Collateral is an asset or piece of property that a borrower offers to a lender as security for a loan. ... An example of unsecured lending is a business credit card. Borrowers do not offer collateral when using a credit card. Since the loan is unsecured, credit cards typically carry higher interest rates.

because of the increasing complexity of the social, economic, and industrial life of the nation, the scope of law has expanded enormously in the past century. a. common b. administrative c. procedural d. equity

Answers

The nation's social, economic, and industrial life's growing complexity is a result of how much the law has grown in scope over the years.

Explain scope of law.

The intricacy of social, economic, and job describing has led to an expansion of the legal system over the past century. Common law is the term used to describe the customary, judicially law that has evolved over time as a result of court rulings and precedents. The operations of administrative authorities and their rules are governed by administrative law. The methods and guidelines for carrying out legal proceedings are set forth in procedural law. The term "equity law" refers to a body of rules that evolved historically to address justice and fairness in circumstances where common law was insufficient. All of these many legal specialties play a crucial part in guaranteeing that the law system can adapt to the shifting demands of society as the reach of the law is expanded.

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In negative self talk, filtering is when a person _______. a. Focuses only on their problems, ignoring their successes b. Blames themselves for every problem, whether it was their fault or not c. Believes that every situation will end badly d. See themselves as a failure for not living up to impossible standards

Answers

Answer:

In negative self talk, filtering is when a person Focuses only on their problems, ignoring their successes

Explanation:

In negative self talk, filtering is when a person is being negative filtering positive stuff and turning it to something negative instead.

For example if someone passes a test but instead of being proud they feel as if they could have tried harder or gotten a higher grade, that person is filtering their success into negative things.

Hope this helps, Have a great day! :D

In negative self-talk, filtering is when a person focuses only on their problems, ignoring their successes. Thus, option A is the correct option.

What is negative self-talk?

When your inner voice is too critical and negative, it is said to be engaging in negative self-talk. It is gloomy and emphasizes the negative. Your self-esteem is damaged, and you are prevented from realizing your potential. It might give you the impression that you will fail even before you begin. Repetitive negative self-talk frequently doesn't correspond to reality.

Rumination, which is repeated with intrusive unpleasant thoughts, might result from it. You will experience negative thoughts about yourself most of the time. This might get you down, and it can be difficult to get back up once you're down. People with anxiety or depression frequently exhibit negative self-talk. It might be overwhelming and impossible to escape from the incessant negative talk.

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HELP PLZ WILL GIVE BRAINLIEST. Click this link to view O*NET’s Tasks section for Human Resources Managers. Note that common tasks are listed toward the top, and less common tasks are listed toward the bottom. According to O*NET, what are some common tasks performed by Human Resources Managers? Check all that apply.

Answers

Answer:

the awnser to this question is A C D F i promise these are right i had the same question

Explanation:

mark brainliest pls

Answer:
it is A, C, D, F
Explanation:
I just answered it

vegetables wilt of soften and their color intensifies as they

Answers

Answer: boil

Explanation:

Answer:

Saute

Explanation:

Vegetables wilt and soften when sauteing for example spinach, bokchoy and kale to name a few.

Which of the following do leaders need to do in the planning phase of the performance management cycle? (Check all that apply.)
a. Make very explicit links between follower performance and team or organizational outcomes.
b. Set clear, measurable, and agreed-upon goals for the what and how of follower performance.

Answers

In the planning phase of the performance management cycle, leaders need to do the following:

a. Make very explicit links between follower performance and team or organizational outcomes.

b. Set clear, measurable, and agreed-upon goals for the what and how of follower performance.

In the planning phase of the performance management cycle, leaders play a crucial role in setting the direction and expectations for their followers. By making explicit links between follower performance and team or organizational outcomes (option a), leaders ensure that their team members understand how their individual contributions impact the overall success of the team or organization.

This alignment helps create a sense of purpose and motivation among the followers, as they can see the direct connection between their efforts and the desired outcomes.

Additionally, leaders need to set clear, measurable, and agreed-upon goals for follower performance (option b). These goals should be specific, achievable, and aligned with the overall objectives of the team or organization. Clear goals provide followers with a clear understanding of what is expected of them, while measurable goals enable leaders to track progress and provide feedback.

When goals are agreed upon, it promotes a collaborative approach where leaders and followers can have a shared understanding of expectations, fostering a sense of ownership and commitment.

By incorporating these two actions into the planning phase, leaders can effectively align individual and team goals with organizational objectives, ensuring that performance management efforts are focused and purposeful.

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What is the importance of an economic model?

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Economic models are important because they provide a simplified representation of complex economic systems and help economists and policymakers to understand and analyze economic phenomena.

Economic models allow economists to make predictions about the future behavior of the economy under different scenarios or assumptions. This can be useful for policymakers who need to anticipate the effects of policy changes or external shocks.

Economic models can be used to test and refine economic theories. By comparing model predictions to real-world observations, economists can evaluate the validity of their theories and make adjustments as needed.

Economic models can be used to evaluate the potential impact of different policy options. Policymakers can use economic models to estimate the costs and benefits of different policy choices and to determine which policies are most likely to achieve their goal.

Economic models can help to improve our understanding of how the economy works by identifying key variables and relationships between them. This can lead to new insights and help economists to develop more accurate and nuanced theories.

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How do you define success?

Answers

Answer:

if ur happy then ig I could say ur successful

if made it to the top I could say ur successful

if u reached the destination if ur dream I would say ur successful

If you came to a good spot in life I believe your success as long as you get to the point of happiness, and working on towards reaching your goals

We suppose an economy defined by:
Y=10000 ; G = 2000 ; T = 1000 ;
r (real interest rate) = 3%;
C = 400 + 0.6 (Y-T) ;
Lo (factors that affect demand of moeny) = 5 ;
Ms (money supply) = 15000 ;
Mg (growth rate of money) = 10% ;
Yg (growth rate of Y) = 7%

question : If M increase by 3%, the P increase by ? ( the options I have are : 1.22%/1.23%/1.24%/1.25%)

Answers

Answer:

Explanation:

To find the percentage increase in P if M increases by 3%, we need to use the equation for the quantity theory of money, which is:

M * V = P * Y

Where M is the money supply, V is the velocity of money, P is the price level, and Y is the output of the economy.

If M increases by 3%, then the new value of M can be found by multiplying the old value of M by 1 + the percentage increase:

M' = M * (1 + 0.03) = 15000 * 1.03 = 15450

We can then solve for the new value of P by substituting the new values of M and Y into the equation:

P' = (M' * V) / Y = (15450 * V) / 10000 = 1.5450 * V

We can then find the percentage increase in P by taking the difference between the new value of P and the old value of P, and dividing by the old value of P:

Percentage increase in P = (P' - P) / P = (1.5450 * V - 1) / 1 = 0.5450 * V

So the percentage increase in P is 0.5450 * V.

what is the relationship between the price of a non callable bond and the price of a callable bond

Answers

The relationship between the price of a non-callable bond and the price of a callable bond is that the price of a non-callable bond is generally less than the price of a callable bond.

This is because non-callable bonds do not have a set maturity and therefore do not have to be redeemed. By contrast, callable bonds have a set maturity term and must be redeemed at the end of that term.

The risk generally associated with callable bonds is higher, since the issuer is obligated to repay the bond at the stated time. For this reason, we can say that callable bonds have a higher price than non-callable bonds.

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describe the importance of section officer

Answers

Answer:

Section officer are important to give and take the services , cater the services effectively , distribute work among the staff as evenly as possible , drafts laws , put up notes , prepare summaries , manage the relevant record and data of concerned department, reply to letters , communicate with other departments , maintain order and discipline in the section maintenance, etc

people over 65 represent what percent of single-person households?

Answers

People over 65 represent approximately 36% of single-person households.

In single-person households, individuals live alone without any other adult members. The percentage of people over 65 within this demographic is around 36%. This figure highlights the significant presence of older adults who choose to live independently or have become widowed or divorced later in life.

There are various reasons contributing to this trend, including longer life expectancy, changes in societal norms, and increased financial independence among older adults. This demographic shift has implications for social and healthcare services, as it requires addressing the unique needs and challenges faced by older individuals living alone, such as isolation, access to healthcare, and support systems to promote healthy aging.

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Most licensed architects are members of which association? A. ACSA B. AIA C. NAAB D. NCARB E. NVOB

Answers

Answer: It is B. AlA

Explanation:ALA is open to all architects and professions related to architecture. Our members hold individual memberships and specialize in all types of architecture.

When Ellen buys a new computer for her accounting business, it is included in gross domestic product (GDP) as ________, and when she buys a new computer for personal use at home, it counts as ________.
a. consumption; consumption.
b. consumption; investment.
c. government purchases; consumption.
d. investment; investment.
e. investment; consumption.

Answers

Answer:

ITS A NEW COMPUTER IT SHOULD WORK FOR EVERYTHING YOU NEED

Explanation:

BUT I THINK A DESKTOP WILL DO BETTER

When Ellen buys a new computer for her accounting business, it is included in gross domestic product (GDP) as investment, and when she buys a new computer for personal use at home, it counts as consumption.

What is investment?

This can be referred to as all process of investing money in order to accrue profit at the end.

The investment in computers is to ensure that the business makes profit at the end of the period.