The value created by a business is created by its assets. True or False?
Q: When a merchandising business is compared to a service business, the financialstatement thatis…
A: Merchandising business: It is a set of activities we do to sell our product and services to the…
Q: he economic resources that a business owns and expects to be useful to deliver its purpose are known…
A: An asset is a resource with economic value that an individual, corporation, or enterprise owns with…
Q: how will a change from cash basis accounting to accural basis accounting positively and negatively…
A: Books of accounts can be maintained either using the cash basis accounting or using the accrual…
Q: 1- Some companies are based on intangible assets (such as the skills and expertise of their…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: The resources owned by the business is called?
A:
Q: What is a Balance Sheet and why is it important in a business?
A: Balance Sheet is a financial statements prepared for assessing the financial position of a company.…
Q: How can you describe the importance of holding liquid assets and monitoring those assets for a…
A: Liquidity is a measure of the ability with which a business can convert its assets into cash with no…
Q: What is profit, how is it earned? Explain its effect on businesses.
A: The income statement is prepared to find net income or losses incurred during the period. This is a…
Q: Can a business transaction cause one asset to increase with-out affecting any other asset,…
A:
Q: 1. Besides earning a profit, what other objectives might a business have? How can Accounting play an…
A: Accounting: It can be defined as a process that helps companies to maintain their large numbers of…
Q: Which financial ratio under the categories of profitability, asset utilization, liquidity, and debt…
A: Financial ratio can be defined as the accounting ratio which helps the business in evaluating the…
Q: How could this affect the operation of the business if the current asset takes the biggest part?
A: Assets are the resources that a corporation has or controls in order to generate income in the…
Q: Something that has value or the power to earn money for a business is a current liabilitie. True…
A: Current Liabilities: Current liabilities are the short- term liability which is to be paid within a…
Q: What account impacts the equity of a business?
A: The Equity of the business is effected by following accounts, with the transactions mentioned as…
Q: How do you value a business
A: In the world of finance, we often see that a business is being valued. The valuation might be done…
Q: _________ is generally referred as a parameter to check/test the efficiency of the business concern.…
A: The primary objective to do business is to earn profit.
Q: Liabilities a. possess service potential. O b. are things of value used by the business in its…
A: Liabilities: A person or corporation may be said to have a liability if they owe anything to another…
Q: explain how the idea of value creation under stakeholder theory differs from that under positive…
A: Here discuss about the details of the difference between the stakeholders theory with the positive…
Q: The resources of value owned by a business are called _____________. Group of answer choices…
A: Business means the activity or occupation that is done to earn the revenues.
Q: Do you agree with the following statement: "Accounting is vital to the success of a business?"…
A: Accounting refers to the process of recording the financial transactions related to the business .…
Q: For example, how does understanding profit and loss impact your perspective on operating a company?
A: Knowledge of profit and loss while operating a company is critical to the success of the enterprise.
Q: Explain the effect of operating profitably on the balance sheet of a business entity.
A:
Q: financial assets generate net income to the economy, while real assets define the allocation of…
A: Financial assets are assets are liquid assets that can easily and quickly be converted into cash…
Q: Liabilities Are things of value used by the business in its operation. O a. b. Are future economic…
A: Comment - We’ll answer the first question since the exact one wasn’t specified. Please submit a new…
Q: Profit is the difference between? a. Assets and liabilities b. Assets and equities c. The assets…
A: Assets, liabilities, equity, incomes and expenses are important terms that are being used in…
Q: True (t) or False (f) ______ Financial statements are the principal means through which financial…
A: The major financial statements are: 1) Balance sheet statement: In this statement, a corporation…
Q: Which of the following is NOT true of revenue expenditure? It is an expenditure that keeps an asset…
A: Revenue expenditure is considered as a short-term expense while capital expenditure is long-term i.e…
Q: How does the accrual basis of accounting provide different results when compared with the cash…
A: Cash Basis of accounting- Under cash basis, accounting entries are recorded as and when there are…
Q: It is defined as a business activity or event that affects a business financially
A: Business activities are related to the operations of the business. These activities are of different…
Q: Assets are _________________________. Resources owned by suppliers of the business Resources owned…
A: Every business needs funds and other things to run business smoothly. Funds can be in the form of…
Q: What is a working capital? What is its importance in the business process?
A: Accounting is a way of recording money related transactions in the financial statements of an…
Q: these are economic resources owned by the business expected for future gain. They are property and…
A: Answer) The correct answer in the given question is: Assets
Q: reditors are interested on how the business managed its assets to generate revenues. True or false
A: Creditor means the person who has sold goods on credit to the company and still to be paid.
Q: Liabilities a. possess service potential. O b. O c. d. are things of value used by the business in…
A: “Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: 6. How the cost of reporting financial information should be justified? a. By the number of…
A: Solution: cost of reporting financial information should be justified by "the benefits of reporting…
Q: Factors that reflect the ability of a business to pay its debts and earn a reasonable amount of…
A:
Q: When the business collects Revenues, the result is
A: When business collects revenue, the entry is; Cash A/c Dr xxxx To Income A/c xxxx…
Q: What business transaction will increase asset and increase liability
A: The accounting equation refers to the equation of the balance sheet. It is based on the method of…
Q: An identifiable part of the company for which financial information is available is called…
A: Financial Statements are prepared by the management for the business entity for reporting purposes.…
Q: Kathleen Battle says, “Retained earnings should be reported as an asset, since it is earnings which…
A: No, Kathleen Battle is not correct. The source of an asset includes some part of the retained…
Q: What are the similarities between the income, market, and asset approaches to business valuation?
A: Business valuation is the measure of the economic value of a company for the benefit of the owners.…
Q: Essay - cite sources: Besides earning a profit, what other objectives might a business have? How…
A: Profitable businesses sometimes go under because they don't remain competitive or advance with the…
Q: What is meant by comparability when discussing Qualitative Characteristics of Useful Financial…
A: Definition:
Q: As per the accounting equation, equity can be represented as __________________. Excess of assets…
A: Accounting is the detailed process of book keeping. Under the first step of accounting, all…
The value created by a business is created by its assets.
True or False?
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- What is fair value accounting?financial assets generate net income to the economy, while real assets define the allocation of income Select one: True FalseReact to this statement and cite an example “Whether or not it actually makesprofits is immaterial. An entity is still a business if it is objective is to make profit.