Differentiate the Single and Double Entry Book-Keeping in your own words. Furthermore, briefly explain the objectives of Double Entry Book-Keeping.

Answers

Answer 1

Answer:

See below

Explanation:

A single entry book keeping is when a cash book is being maintained to record income and expenses. In a single entry book keeping, only one entry is made per transaction like we have in check register.

Double entry book keeping is when an accounting entries have two sides, debit and credit leg. The right hand side is the debit while the left side is the credit.

Objectives of double entry book keeping

• To provide accurate recording of business transactions to management

• When there are problems in financial matters, book keeping assist in solving this problems through its systematic record of financial transactions .

• Book keeping also provide information to the management for making plans and decisions relating to finances.


Related Questions

It is a good idea to share you PIN and all passwords with friends and family, just in case you forget.
O True
O False

Answers

Answer:

that depends on your family, but it would be true, i would write them down, plus if you dont your parents would be stuck in a loop. (have a few private ones lol)

Explanation:

What is the primary goal of the purchasing process?

Answers

answer : ensure uninterrupted flows of raw materials at the lowest total cost, improve total cost,improve quality of the finished goods produced,and maximize customer satisfaction

22. Akshay worked at a cafe while he was a college senior in Boston,
Massachusetts. After graduating in June, he moved back to his home in
California and started a full-time job in September. Which of the following
statements is true?

Answers

Answer: The answer is C

Explanation: I got this correct on a test

The process of controlling and making decisions about a business is called:
O Leadership
O Management
O Administration

Answers

Answer:

B. Management.

Explanation:

Management can be defined as the process of controlling and making decisions about a business.

The management comprises of top executives, board of directors or managers who generally control the affairs of a business firm or company.

Basically, they are saddled with the responsibility of defining the policies, set of rules, standards, and procedures so as to preserve or protect the company's assets, boost efficiency, enhance financial accountability, and prevent fraudulent behaviors among the employees.

Also, the decision-making process or responsibilities is essentially vested on the management of a business. Therefore, the management is typically responsible for the success, growth and development of their business.

True or False?
Social workers work at both the state and national level.

Answers

True




Explanation: because true

According to the speaker, what are the three traditional Gs of growth?

Answers

Answer:

Consistent, Competitive & Profitable.

Explanation:

correct on edge

The three traditional Gs of growth are Growth, Gratitude, and Giving

What is tradition?

The standard of a piece of information being discussed is indicated by tradition. For instance, "Homer is said to have been born on the island of Chios, although many other places have historically claimed him as their own." It may never be possible to confirm or deny this custom.

Growth: In other words, if you develop your workforce, your business will do the same. Don't you make an effort to hire employees that are smarter than you Give them an opportunity to succeed while guiding them while they do so.tradition

Gratitude can take many different forms. Your customers conducting business with you, internal promotions, and improving someone. Investing in a better world and receiving assistance in whatever form are both aspects of gratitude.

Giving: is a straightforward conclusion; you give it your all without holding back. Giving is recognizing the need and taking action to provide assistance in any form that is practical. Giving ultimately causes the business world to whirl. If you do it, other people will too. That's how easy it is.

Therefore,  Traditional Gs of growth are Growth, Gratitude, and Giving

Learn more about the tradition here:

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#SPJ2

What is an index fund? Explain in your own words.

Answers

Answer:

An index fund is a mutual fund or exchange trade fund designed to follow certain present rules so that the fund can track a specified basket of underlying investments

What primary risk are business owners taking when selling shares of their companies?

Answers

answer:

giving away a percentage of their company and maybe losing their power as only one leader.

explanation:

this question was already answeredcredits: https://brainly.com/question/1957314

Maddie is creating a survey to determine student's favorite place to shop. This type of research is

Primary
Secondary
Media
Product

Answers

Answer:

Primary

Explanation:

Any survey is an example of a primary research.

The research by Maddie, who created a survey to determine students' favorite places to shop, is A. Primary research.

What is primary research?

Primary research depends on direct data and not on previous data collected by another researcher.

For example, Maddie's creation of a survey to determine students' favorite places to shop demonstrates primary research.

Thus, the research by Maddie, who created a survey to determine students' favorite places to shop, is Option A.

Learn more about primary research at https://brainly.com/question/6614599

I need help asapppppp!

Answers

B) Internet bank i think

Name TWO organisations which typically offer
loans to small businesses.

Answers

Answer:

Kabbage: Best Overall.

Fundbox: Best Revolving Line of Credit

Explanation:

9/10
What do you need in order to fill out your 1040?
Your W-2
Your employer benefits documentation
Your credit card statement
Your job offer

Answers

Answer:

d

Explanation:

Answer:

Your job offer

Explanation:

took the test

what is a withdrawal account classified as? (Asset, Liability,Owners equity,Revenue,or Expense account)

Answers

Answer:

Asset

Hope it helps.

Have a good day

1. What is the current balance that Joe Doe owes? $1270.54

2.What is the total amount that Joe charged for this billing cycle?

a. List the purchases that Joe made.

3. How much did Joe pay for his last payment?

4. Why was Joe charged $35 by the credit card company?

5. How much interest was Joe charged for this month?

6. What is the credit limit that Joe has for this credit card?

a. What is Joe’s available credit?


7. What is APR for purchases for this credit card?

8. What is the minimum payment amount that Joe must make?

9. When is the due date for Joe to make a payment?

10. Did Joe take a cash advance on this credit card?

11.Why did you think the federal government requires that financial institutions place a “Total Minimum Payment Warning” on all credit card statements?

Answers

Explanation:

1. $1270.54. This is evident since this was written at the bottom of the credit card statement.

2. $500. We find this under the row for payments.

Purchases made:

3/25 Groceries land: $1423/27 Book store: $334/1 Restaurant: $1254/19 Bob's Auto: $425

3. $500

4. Because he made late payments and it comes with a $35 penalty fee as stated in the credit policy of the company.

5. $10.54.

6. $5,000 credit limit, and $3,729.46 is Joe's available credit line.

7. Purchases: 13.99%, Balance transfers: 13.99%, Cash Advances: 25.99.

8. $25.

9.  4/29/19.

10. No, because there is no cash advance charge on the statement.

11. In other to inform the card-holders about the financial burdens attached to paying only the minimum payment due.

8. If the price of a good changes from £5 to £4 and demand change from 100 to 120 units, the PED
will be...
(1 Point)
-0.25
-1.0
-0.2
-2.0

Answers

Answer:

Explanation:

dvsf

you've been working for a while, but your sister just got a job and is excited to have some of her "own" spending money. Money burns a hole in her pocket. What are some ideas on how she can save some money?

Answers

Answer:

She can put the money in a savings account and only buy thing she needs not wants.

Explanation:

There is not a deadline for the "T" part of the SMART goal-writing criteria.
2 points
True
False

Answers

True explanation is I know

Answer:

FALSE I know bc I just did it

Explanation:

The price of a ranchette estate is $260,000. The bank requires a 15% down payment and 3 points at the time of closing. The cost of the ranchette is financed with a 30-year fixed-rate mortgage at 7.45%. What is the mortgage amount? *

Answers

Answer:

Missing word "and the cost of one point at the time of closing"

Down payment = $260,000*15%

Down payment = $260,000*0.15

Down payment = $39,000

Amount of mortgage = $260,000 - $39,000

Amount of mortgage = $221,000

Cost of 3 point at the time of closing = 3% of amount of mortgage

Cost of 3 point at the time of closing = 3% * $221,000

Cost of 3 point at the time of closing = $6,630

Why is it important that the whole organization works toward the strategic plan? How do the departments affect each other in reaching their goals?

Answers

Answer:

Its important because if not it will flop and will most likely fail or go into debt, they effect eachother by trying ti be better than the other so a compétition tge whole time.

Explanation:

if this makes sense

Match each business model with the advantage it brings.​

Answers

Answer:

1. Subscription.

2. Bait and Hook.

3. Cutting out the Middleman.

Explanation:

Some of the commonly used business models across the world include the following;

1. Subscription: steady revenue and predictable profits. It is a business model which typically involves customers paying a recurring fee or price (revenue) for the use of a particular product or service. These customers are usually charged either on a monthly or annual basis. An example is the subscription for paid cable tv by various customers.

2. Bait and Hook: attractive prices for basic product. It is also referred to as the razor and blade business model. Bait and Hook typically involves selling a product at a very low price so as to gain the attention of the buyer and selling a complementary product (refill) to the same buyer at a very high price. An example is a mobile phone (bait) and airtime plus data (hook).

3. Cutting out the Middleman: reduction in transaction costs and processing time. It typically involves the elimination of an intermediary (middleman) in the supply of goods and services to the end users or customers.

An example is the business to consumer (B2C) company such as Walmart, Uber, etc.

How does business generate income?

Answers

Hai!

This depends on the Type of Business.

If it is a Selling Business, they sell stuff to Earn Profit.

If its a Free Online Website/Game. They earn money by either in game purchases or Web Site purchases.  

name some differences between the requirements and responsibilities between volunteer,intern, and paid jobs

Answers

Answer:

The major difference between job shadowing and an internship is that you perform more duties as an intern than as a job shadow participant. Interns are hired for temporary positions, and they can be paid or unpaid. When you have. a job you are bing paid and normally have more responsibilities.

PLZ HELP ME!!!!!!

Which statement about credit card interest rates is TRUE?

A.) The more money you spend on purchases, the higher your interest rate will be

B.) A high interest rate means you'll pay MORE money total

C.) A high interst rate means you'll pay LESS money total

D.) Most credit cards do not charge any interest rate

Answers

Answer:

I think its A?

Explanation:

A or B it’s probably A but there is a chance it’s B SORRY ITS REALLY HARD TO CHOOSE FROM THE TWO! :3

Accenture is helping a large retailer transform their online sales and services. The Data Analyst audits the client's customer journey and maps out the kind of data they need to collect at each touch point. How does this help the client achieve their objectives?

Answers

Answer: a. by updating their sales platform and adding new features

Explanation:

a. by updating their sales platform and adding new features

b. by shifting the focus away from the customer and towards new products or services

c. by identifying products that are poor sellers and removing them from the inventory

d. by increasing their customer knowledge and leveraging that information to improve customer experience.

From the question, we are informed that the data analyst audits the client's customer journey and then maps out the kind of data they will need to collect at every touch point.

This helps the client to achieve their objectives by updating their sales platform and adding new features. This is because we are informed at first that Accenture wants to help the retailer transform their online sales and services.

Accenture was created for helping clients in becoming cloud first business. Accenture extends technology sevices to its clients by brings together the capabilities and industry knowledge at one place.

Accenture helps the clients in transforming their online sales and services by mapping out the customer journey and the data they need to collect at the touch points.This is done after the audit of data of the client by data analyst.

Helping clients in achieving objectives

Accenture can help its clients by updating and analysing their sales platform and adding new and useful features to it which will help the clients in achieving objectives.

Therefore accenture can help in this manner to its clients in increasing and transforming their online sales.

Learn more about Accenture here:

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a. by updating their sales platform and adding new features

Explanation:

a. by updating their sales platform and adding new features

b. by shifting the focus away from the customer and towards new products or services

c. by identifying products that are poor sellers and removing them from the inventory

d. by increasing their customer knowledge and leveraging that information to improve customer experience.

From the question, we are informed that the data analyst audits the client's customer journey and then maps out the kind of data they will need to collect at every touch point.

This helps the client to achieve their objectives by updating their sales platform and adding new features. This is because we are informed at first that Accenture wants to help the retailer transform their online sales and services.

If you were a business owner, which one would be more important to you (making money or being happy)?

Answers

Answer:

being happy

Explanation:

Answer:

being happy

Explanation:

Becuase if you just work to get money and your not happy gtthen your not doing it becuase you like it.

process
of dividing a large market into smaller groups ​

Answers

Answer:

Market segmentation

Explanation:

Market segmentation, the process of dividing a larger market into smaller pieces based on one or more meaningful, shared characteristics, is a way of life for almost all marketers in both consumer and business-to-business markets.

can you please mark me 'Brainliest'? thanks

are good oppurtunities always spotted quickly or they often left unrecognized ?

Answers

Answer:

often left unrecognised

Answer:

Spotted quickly

Explanation:

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