On February 1st, your accrual based company incurs $500.00 for services. On February 25th, your company pays $300.00 towards the services and then, on March 5th, pays the $200.00 balance. How is the $200.00 payment made in March recorded?

Answers

Answer 1

Answer: Debit Credit

Feb 1
Services 500
Accounts Payable 500

Feb 25
Accounts Payable 300
Cash 300

March 5
Accounts Payable 200
Cash 200

The entries made in March 5th zeroed out the Accounts Payable on the Services bought on account last February 1st.

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Checks and balances definition

Answers

Counterbalancing influences by which an organization or system is regulated typically those ensuring that political power is not concentrated in the hands of individuals or groups

A geologist digs two soil pits to investigate the soil profile in an area. The pits are separated by 500 meters. A geologic map indicates that the bedrock in the two areas is the same. In Pit A, the soil layer is much thicker than in Pit B. What most likely accounts for this difference?

Answers

Answer:

Pit A is located on a valley floor while Pit B is along a hillside.

Why is it a problem if drivers use the company cars for personal reasons

Answers

It is a problem because the driver is using a company issued car which belongs to the company. So if the driver got in an accident or did something reckless the company is reliable for his mistake.

Why are free market economies able to attain economic growth? firms offer more incentives to encourage households to purchase more goods. everyone is acting in their own self-interest, which motivates market growth. competition encourages innovation, which causes growth. consumers can purchase all the goods they need, which cause firms to produce more?

Answers

Answer:

Competition encourages innovation, which causes growth

Explanation:

The free market is an economic system based on supply and demand with little or no government control. ... Free markets are characterized by a spontaneous and decentralized order of arrangements through which individuals make economic decisions. Being a market with little or no government control limiting them , people are able to think out of the box in order beat their competitors and remain relevant thereby introducing newer brands to the market which at the long run helps to attain economic growth

Market growth It is all about the circular flow diagram. Firms produce more because there are more people willing to buy goods and they are free to do so, not a government to stop them. In addition prices are stable because of competition and there is a lot of variety for the consumer.

ou have just received seed money for a new e-commerce business and you want to hire a dozen people with a lot of creative potential. To hire the most creative people, you would select applicants who: select one:a. Have no experience in this industry, have high analytic intelligence, and have a relatively low need for achievement.b. Has above-average intelligence, is persistent, has subject-matter expertise, and an inventive thinking style.

Answers

Answer:

I have just received seed money for a new e-commerce business and you want to hire a dozen people with a lot of creative potential. To hire the most creative people, you would select applicants who:

Has above-average intelligence, is persistent, has subject-matter expertise, and an inventive thinking style.

Explanation:

Starting a new e-commerce business required the need for hire experienced personnel with creative thinking style in order to spur the business to the peak inline with vision and mission set for such businesses

What is form utility and what is place utility

Answers

Answer:

Explanation:

Form utility can be defined as the process of utilizing the raw material for the preparation of finished goods. The manufacturing companies takes a huge effort to assemble all components to develop a product. Place utility reflects how the products are presented in front of customers through using media, advertisement and other marketing strategies.

Form

Form refers to the product or service you offer your customers. Your marketing team carries out research into customer needs to develop a specification for a product or service. Your product development team can then develop a product or service that meets customers’ needs and provides your customers with important business benefits such as lower costs, improved productivity, easier installation or stronger competitive advantage. Your marketing team is creating utility by transforming customers’ needs into product or services that deliver added value.

Place

The utility of place refers to the availability of a product or service in a location that is convenient to your customers. In business marketing, place can refer to the convenience of your distribution channels or direct sales operations. By improving the utility of place, you are ensuring that your customers will find it convenient to buy your product. If you market services, you can improve utility for your customers by developing self-service facilities on your website, for example. Customers can find answers to straightforward technical problems or post questions on a forum where your team or other customers can provide answers

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