Answer:
B. capitalized and bold
Explanation:
Please mark my answer as the Brainiest!!!
Got it correct on Edge.
Periodic vs.Perpetual Inventory Accounting Multiple Choice Periodic Inventory Accounting results in a higher Cost of Goods Sold than Perpetual Inventory Accounting Sometimes Periodic Inventory Accounting results in a lower Cost of Goods Sold than Perpetual Inventory Accounting and sometimes Periodic Inventory Accounting results in a higher Cost of Goods Sold than Perpetual Inventory Accounting Periodic Inventory Accounting results in a lower Cost of Goods Sold than Perpetual Inventory Accounting Periodic and Perpetual Inventory Accounting result in the same Cost of Goods Sold
Answer:
Periodic and Perpetual Inventory Accounting result in the same Cost of Goods Sold.
Explanation:
A periodic system of inventory can be defined as a method of financial accounting, that typically involves updating informations about an inventory on a periodic basis (at specific intervals) as the sales or purchases are being made by the customers, through the use of either an enterprise management software applications or a digitized point-of-sale equipment.
A perpetual inventory system is a type of inventory management that continuously records in real-time the amount of inventory sold or purchased through the use of enterprise software or technological software applications such as a point of sale (POS).
Under a perpetual system of inventory, updates of the journal entry for cost of goods sold or received would include debiting accounts receivable and crediting sales immediately as it is being made or happening. The advantage of the perpetual system of inventory over the periodic system of inventory is that, it ensures the inventory account balance is always accurate provided there are no spoilage, theft etc. Also, the periodic system of inventory is a function of the cost of goods sold.
Hence, both Periodic and Perpetual Inventory Accounting result in the same Cost of Goods Sold.
Which plan would most likely NOT help you reach the savings needed for college?
D. Start saving about two months before college begins
what are some good outdoor thing to do outside for the summer
list as many as can
Answer:
biking
swimming
walking
learning something new
being with friends
sports
hiking
going on a trip
making something
Define general banking services offered by financial institutions
The Corbit Corp. sold merchandise for $10,000 cash. The cost of the goods sold was $7,590. The journal entries to record this transaction under the perpetual inventory system would be
a.
Cash 10,000
Sales 10,000
Cost of Goods Sold 7,590
Inventory 7,590
b.
Cash 7,590
Sales 7,590
Cost of Goods Sold 7,590
Inventory 7,590
c.
Cash 10,000
Sales 10,000
Cost of Goods Sold 10,000
Inventory 10,000
d.
Cash 10,000
Inventory 10,000
Cost of Goods Sold 7,590
Sales 7,590
Answer:
a. Cash 10,000
Sales 10,000
Cost of Goods Sold 7,590
Inventory 7,590
Explanation:
Based on the information given if the company
sold merchandise for the amount of $10,000 cash in which The cost of the merchandise sold was the amount of $7,590. The appropriate journal entries to record this transaction under the perpetual inventory system would be to Debit Cash for $10,000; Credit Sales for $10,000 and to Dr Cost of Goods Sold for $7,590; Credit Inventory for $7,590.
Dr Cash 10,000
Cr Sales 10,000
Dr Cost of Goods Sold 7,590
Cr Inventory 7,590
Match the action needed to increase profits with the reason a business might fail.
Setting a realistic budget for the company to follow would match with________.
A) bad location
B) poor management
C) Competition
D) finances
Answer:
D
Explanation:
finances
The single greatest benefit that capitalism provides is that it enables human choice. Capitalism establishes a social contract that makes it possible for individuals to exercise their franchise and free agency. It gives people the ability to be secure in themselves and their possessions and, having provided security, it enables people to assume risk that they were previously unwilling to assume. It creates the necessary conditions for people to escape poverty and create wealth for themselves and for others. Read a quotation by Roger Butters, a twenty-first-century economist. Both Adam Smith and Butters would agree that capitalism allows the government to help individuals. protects workers from unfair practices. provides individuals with freedom of choice. helps entrepreneurs avoid risk and danger.
Answer:
provides individuals with freedom of choice.
Explanation:
Adam Smith
is a renowned Scottish economist who wrote "The Wealth of Nations"and established the foundation principles of capitalism.
Capitalism
Is simply defined as an economic system that uses on open competition in a free market, whereby individuals and companies own the means of production and operate for profit.
It gives room for individuals and private businesses to decide most of economic matters. It has led to the development of mercantilism, international trade, rise of the middle class and others.
Benefits of capitalism includes individual freedom is closely related to economic freedom, market economies produce a huge variety of goods and others.
Answer:
The person above me is correct, I just took the test
Explanation:
Trust.