True. Finding the accrual-basis and cash-basis revenues and expenses for each transaction is required to solve the accounting algorithm problem 3-1a. This entails determining when revenue and expense recognition should occur and recording transactions accordingly.
What is accrual-basis revenue?Regardless of when cash is received or paid, accrual-basis accounting records income and expenditures at the time they are earned or incurred. Contrarily, revenue and expenses are only recorded in cash-basis accounting when cash is received or paid.
The algorithm would have to decide whether revenue or expense should be recorded on an accrual basis or a cash basis for each transaction. There would also need to be a determination of the amount of revenue or expense recorded under each basis.
Overall, this necessitates a thorough comprehension of the distinctions between accrual-basis and cash-basis accounting as well as the capacity to apply these ideas to particular transactions.
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In the context of obtaining precall information regarding making a sale, which of the following is a situation in which a lot of additional information is least likely to be required?
a. when the salesperson is using cold canvassing
b. when the salesperson has not set call objectives
c. when the salesperson has notes from previous calls
d. when the salesperson is well acquainted with the focus of power
e. when the salesperson can work "over the screen"
acquiring precall information about closing a deal when a salesperson is cold-calling. Hence, (A) is accurate.
What is meant by cold canvassing?The act of calling or contacting potential employers cold is known as cold canvassing. It involves promoting your services to them. The easiest way to achieve this is to consider your abilities and how they relate to the businesses you are targeting.
Several hundred applications may be submitted in response to a single job posting in newspapers or online. The hidden employment market can be tapped into before a position is publicized with a cold call or a timely in-person visit.
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Carlos is planning a 1340-mile driving trip. His car gets an average of 32 mpg, and the cost of gas is about $3. 76/gallon. What is the approximate driving cost of the trip?.
Carlos' car gets an average of 32 miles/gallon, so if he wants to travel 1340 miles and if the cost of gas is $3.76, then the answer is:
1340/32 = 41.875 ⇒ 41.875* 3.76 = 157.45$ driving cost.
How are driving expenses calculated?The amount of gallons of gas you'll need for your trip can be calculated by multiplying the mileage of the entire trip by your miles per gallon. Your projected gas expenditure for your road trip will be determined by multiplying that amount by the current gas price.The significance of cost drivers by enhancing the overhead allocation to their products, cost drivers help managers better grasp the underlying costs of their operations. This makes it easier for management to assess the profitability of individual items.
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why do all managers and supervisor need the skill and knowledge of human resource management
The managers and supervisor need the skill and knowledge of human resource management because, by these skills, they can handle the people aspect of their roles.
What is management?As the word management defined as, In order to achieve in demand goals and objectives, someone or group of people must be contested and managed, according to the concept of administration.
As by having the skill and knowledge of human resource management, the managers and the supervisors can easily deal with the team they know their strength as well weakness.
Therefore, As a result, by having the skills they can work in effective manner.
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the final step in defining a project is coding the organization breakdown structure or obs for the information system.
The final step in defining a project is coding the organization breakdown structure or obs for the information system. The statement is False.
What is the project?A project is described as a series of operations that must be carried out in a specific order in order to achieve a specific result. A project manager can help with resource allocation, progress monitoring, and timely completion of this project.
The final step in defining a project is coding the Work breakdown structure (WBS) not the organization breakdown structure or obs for the information system.
Therefore, the statement is False.
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The complete question is Probably
the final step in defining a project is coding the organization breakdown structure or obs for the information system. State True Or False
While performing the monthly bank reconciliation, the bookkeeper for Avon Company made the journal entry for a bank service charge of $20. Which of the following correctly shows the effect of the entry on the financial statements?
Assets = Liab. + Equity Rev. - Expenses = Net Inc. Cash
A. NA NA NA NA NA NA (20) OA
B. (20) (20) NA NA NA NA (20) OA
C. (20) NA (20) (20) NA (20) (20) OA
D. (20) NA (20) NA 20 (20) (20) OA
Option A
Option B
Option C
Option D
Option (d) accurately depicts how the entry will affect the financial statements.
What variables could have an effect on the financial statement?A financial statement is impacted differently by each of the five main accounting components: assets, liabilities, owner's equity, revenues, and costs. How each component, however, affects a financial statement depends on whether the accounting system uses accrual basis accounting or cash basis accounting.
A balance sheet's impact on a transaction, every transaction has two outcomes on a balance sheet: one results in an increased asset and one results in a decreased liability. The balance sheet is always in balance as a result of these two impacts cancelling each other out.
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if a bond is issued with a call provision, it allows the issuer to blank part or all of the bond at defined prices and times.
Answer:repurchase
Explanation: