Liabilities are the amounts of money due to others that need to be paid now. true or false

Answers

Answer 1

Answer: This is false. The statement is only partially true.

In accounting/business, liabilities are all amounts owed to others, either now or in the future. This can be both money and other goods. So, I would say this is false.

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Using the percentageminusofminussales method, the estimated total uncollectible accounts are $ 6,622. The Allowance for Uncollectible Accounts prior to adjustment has a debit balance of $ 2,635. The Accounts Receivable balance is $ 44,720. The amount of the adjusting entry for UncollectibleminusAccounts Expense is:

Answers

Answer:

Debit Bad debt expense $9,257

Credit Allowance for doubtful accounts $9,257

(To record bad debt expense during the year)

So the amount of adjusting entry is $9,257.

Explanation:

The estimated total uncollectible amount was given as $6,622 meanwhile the company had a debit balance of $2,635 prior to the adjustment. This means $2,635 would be added to $6,622 to arrive at $9,257. That amount would serve as the adjusting amount in order to reinstate the balance in the allowance for doubtful accounts to $6,622.

So net realizable value of accounts receivable would be $38,098 ($44,720 - $6,622).

Answer:

Uncollectible Accounts Expense $ 9257

Explanation:

Accounts Receivable balance $ 44,720

The estimated total uncollectible accounts $ 6,622.

Unadjusted Allowance for Uncollectible Accounts 2,635 Dr.

Adjustment Required ( $ 6,622+ 2,635)= $ 9257

Adjusted Allowance for Uncollectible Accounts $ 9257 Cr

The Allowance for Uncollectibles must always have a credit balance . As we have a debit balance we add it to get the required credit balance adjusting amount.

The amount of the adjusting entry for

Uncollectible Accounts Expense is $ 9257

and the entry is

Bad debts Expense $ 9257 Dr.

Allowance for Uncollectibles $ 9257 Cr.

Consumer behavior refers to Group of answer choices A. the aspects of a consumer's decision making processes that cannot be measured.
B. the actions a person takes in purchasing and using products and services, including the mental and social processes that come before and after these actions
C. the five stages a buyer passes through in making choices about which product and service to investigate, purchase, and consume. D. the mental and social processes related to purchasing that are innate in a person from birth.
E. those purchasing behaviors that result from repeated experience and reasoning.

Answers

Answer:

Explanation:

Consumer behavior refers to all the processes related to what, why, how, when, from whom consumers purchase and pay for a product and how they consume and dispose of it in order to meet their needs.

Is the dynamic interaction of cognition, behavior and environmental events by which human beings conduct the exchange aspects of their lives.

Understanding how consumer behavior impacts marketing renders it vital to understand those factors which affect consumer behavior and which include:

-cultural factors

-cultural shifts

-culture is the combination of subcultures

-another cultural factor is the social class

Consumer behavior in the context of business refers to the actions and processes involved in purchasing and using products and services. Therefore, the correct answer is "the actions a person takes in purchasing and using products and services, including the mental and social processes that come before and after these actions" (option B).

The subject of this question is Business. Consumer behavior refers to the actions a person takes in purchasing and using products and services, including the mental and social processes that come before and after these actions.

It involves understanding the decision-making processes, motivations, and factors that influence consumer choices.

Therefore, consumer behavior refers to "the actions and processes involved in purchasing and using products and services" (Option B).

Learn more about Consumer Behavior here:

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Which element of a print ad communicates the spirit of the brand?a. headline
b. movement
c. tagline
d. body copy

Answers

Tagline communicates the spirit of the brand. Tagline is used in advertising. An example is the punchline of the joke. The idea behind the concept is to create a memorable dramatic phase.

Many cell phone companies have similar offers and restrictions for changing numbers, adding numbers to a plan, getting a new phone, paying for minutes used beyond the allotted minutes, and so on. these similarities are due to which of the following processes?

Answers

based on the scenarios, it will be very likely that the similarities are due to institutional isomorphism
In business, institutional isomorphism refer to a similarity of processes or structure of one organizations with the other because they've developed under the same constraints

hope this helps

Leon is catering a luncheon. He is only supplying the food. What kind of catering service is he providing?

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He provides no-service catering

which mean he only provides the food without giving any service like cleaning up or setting up tables for the consumers

This type of catering is very cost effective for the caterer because he doesn't need any extra staffs to provide the service

Employees who record and are paid for the exact of amount of time spent working are paid on a(n) _____ basis.

Answers

Hourly basis. Salaried employees are paid a flat fee to get the job done.

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