The accounts payable account is a(n) ______ account.
a. expense
b. revenue
c. asset
d. liability

Answers

Answer 1

The accounts payable account is liability account., Therefore, the correct option is D.

What is liability account?

When a liability account is debited, the amount owed by the company is reduced (i.e., the liability increases), and when a liability account is credited, the amount owed by the company grows (i.e. increases the liability). Current liabilities and long-term liabilities are the two categories that make up liability accounts.

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Related Questions

Forming an overall opinion of a job candidate based on one outstanding characteristic is?

Answers

Answer: I would say either responsible or dedicated!

The competitive situation where at&t, mci, and sprint control approximately 80 percent of the international long-distance telephone market is called?

Answers

The competitive situation where at&t, mci, and sprint control approximately 80 percent of the international long-distance telephone market is called "Oligopoly"

What is Telemarketing?

Telemarketing is the practise of selling products or services directly to prospective clients over the phone, the internet, or fax. Telemarketers or, increasingly, automated phone calls, or "robocalls," can conduct telemarketing. A growing backlash against this form of direct marketing has been sparked by tales of telephone scams and fraud as well as the intrusiveness of telemarketing. Other names for telemarketing include "telesales" and "inside sales." The act of calling, screening, and approaching new clients is known as telemarketing. The use of direct mail marketing strategies is excluded. In addition to call centres and offices, homes are increasingly being used for telemarketing. Telemarketing frequently entails a single contact to gauge interest or suitability, followed by several calls to drive a sale.

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Iana has grown dramatically and now oversees five __________ that parcel out ip addresses to large isps and major corporations.

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IANA has grown dramatically and now oversees five Internet Corporations for Assigned Names and Numbers (ICANNs) that parcel out IP addresses to large ISPs and major corporations.

What is IANA?

The Internet Assigned Numbers Authority (IANA) is an organization that sets standards for various online based essential services such as IP address allocation and root zone management.

Since being established by the United States, they have grown to be more global and this is evidenced by the fact they now oversee five Internet Corporations for Assigned Names and Numbers (ICANNs).

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How would an additional cash recovery of a previously written-off account receivable effect the average collection period?

Answers

The income statement is unaffected by the recovery of an uncollectible account when the allowance technique is applied. Only cash, provision for doubtful accounts, and accounts receivable are impacted. The collection results in an increase in operating cash flow.

What is Average Collection Period?

The average collection period is the length of time it takes for a company to obtain accounts receivable payments due from its clients (AR). To make sure they have enough cash on hand to cover their financial responsibilities, businesses employ the average collection period.

For businesses that largely rely on receivables for their cash flows, the average collection period is a crucial number since it shows how well a company manages its accounts receivable.

An accounting indicator known as the average collection period is used to show the typical number of days that pass between the date of a credit sale and the day that the buyer submits payment.

The success of a company's AR management strategies can be determined by looking at its average collection period. For operations to run successfully, businesses must be able to control their typical collecting period.

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When an individual transfers property to another taxpayer during their life, without receiving or expecting to receive value in return, the property transferred is a(n):_________

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When an individual transfers property to another taxpayer during their life, without receiving or expecting to receive value in return, the property transferred is a GIFT.

What is a gift for tax purposes?

For the purposes of taxation of property, a gift refers to a property that a taxpayer gives to another taxpayer while both are still alive.

Another requirement for the property to be a gift is that the person who gave it, should expect nothing in return. Gifts are not as taxed as other transactions.

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_______the real cost of government goods and services is? a. money. b. taxes. c. the private goods and services foregone. d. inflation.

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Terms in this group (80) The private goods and services forgone represent the true cost of government goods and services.

What are goods ?

Goods are any products, raw resources, or consumables that are sold to customers, businesses, or governmental organizations.

Services are tasks carried out for the benefit of the recipients, whereas goods are physical commodities offered to clients. Automobiles, home products, and apparel are a few examples of goods. Legal counsel, housekeeping, and consulting services are a few examples of services.

Normal goods, inferior goods, and Giffen goods are the three categories into which economists divide products.

The supply and demand in an economy play a big role in determining the prices of commodities. Private goods, common goods, club goods, and public goods are the four different categories of products.

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Energy derived from renewable sources located within the project site perimeter is called:_________

Answers

On-site renewable energy.

What Exactly Is a Renewable Resource?

A resource that can naturally replace itself throughout time is said to be renewable. Therefore, despite human consumption, it is sustainable.

Because of their potential to replace non-renewable or finite resources in the generation of energy, renewable resources are viewed as being of particular importance. Additionally, compared to non-renewable resources like coal and fossil fuels, renewable resources can give greener energy alternatives.

The sun, wind, water, geothermal heat from the soil, and biomass are a few examples of renewable resources.

As long as there is precipitation, water is also regarded as a renewable natural resource. The need for conservation measures to protect water supplies has been demonstrated by changing climatic trends.

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If the price of an item b (which is a substitute for item a) decreases, then people will buy ________ of a

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If the price of item B (which is a substitute for item a) decreases, then people will buy LESS of A.

Substitute Goods: In the eyes of the consumer, substitute items are the same as, very similar to, or equivalent to another product. The same wants of the clients can be partially or totally satisfied by substitute goods. The consumer thinks they can therefore be replaced one for the other. Coca-Cola can be substituted with Pepsi-Cola and vice versa.

If the price of item B (which is a substitute for item a) decreases, then people will buy LESS of A.

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Margo spends $10,000 on one year's college tuition. the opportunity cost of spending one year in college for margo is:_____.

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Margo spends $10,000 on one year's college tuition. the opportunity cost of spending one year in college for Margo exists: whatever she would have purchased with the $10,000 plus whatever she would have attained maintained she had not been in college.

What is opportunity cost?

The value or benefit forfeited by engaging in a specific activity in comparison to engaging in a different activity is known as the opportunity cost of that activity. Simply put, it means that if you choose one activity, you forfeit the chance to do another. The opportunity cost is the amount of time spent learning and the money that could be used elsewhere. When a farmer decides to grow wheat, there is an opportunity cost associated with not doing so or using the resources in another way (land and farm equipment).

The value of what you must give up in order to pick something else is referred to as opportunity cost in economics. It is frequently described as the second-best choice. The loss of gain that would have been realized if a different option had been chosen is sometimes referred to as the alternative cost. The loss of benefit as a result of a change in choice is another way to explain it.

Hence, Margo spends $10,000 on one year's college tuition. the opportunity cost of spending one year in college for Margo exists: whatever she would have purchased with the $10,000 plus whatever she would have attained maintained she had not been in college.

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Which type of economic system would more closely subscribe to the doctrine of laissez faire?

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commercial freedom (capitalism)The laissez-faire economic philosophy would be more prevalent in the system.

What is capitalism on the market?

A theory of economics known as commercial capitalism is built on the ideas of capital, value, labor, and capitalization. Anything that has the potential to positively impact the world is valuable; value is another word for labor. Capitals are used to store value.

When did capitalism in the marketplace begin?

When mercantilism, or merchant capitalism, was established in the early modern era during the 16th and 18th centuries, modern capitalism only partially emerged. Over the Mediterranean bullion trade, early modern Venice, Genoa, and Pisa show early signs of mercantilistic activities.

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The correct journal entry to record a transaction that involves paying cash for an expense incurred in the same period is ______.

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The correct journal entry to record a transaction that involves paying cash for an expense incurred in the same period is accrual process.

For a transaction involving cash payment for an expense made in the same period, the proper journal entry is: -debit expense and credit cash. accumulated costs: expenditures made but not yet documented or paid in cash. A journal entry known as an accrual is used to record income and costs that have already been earned or incurred but for which the corresponding cash sums have not yet been collected or disbursed.

An expense that is recorded on the books before it has been paid is referred to as an accumulated expense, also known as an accrued obligation.

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The element of the marketing mix demonstrated when an art gallery suggests a $2 donation at the door is:________

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Price is the marketing mix component that is on display when an art gallery requests a $2 entrance donation.

Since art is a means of portrayal, the artist can use it to compel the viewer to reflect on the subject matter being portrayed. A donation request that is too low will imply that you lack faith in your capacity to address the issue and that it is urgent, while a donation request that is too high will turn off the supporter. In order to raise money without putting a strain on the supporter's finances of price, charities frequently make suggestions that are neither too low nor too high. As a result, it is the Price mix.

A price is the amount of money that one party pays another in exchange for products or services; it is typically not negative. The cost of production might take on numerous names depending on the circumstance. If the item is a "good" in a commercial transaction, the cost of the item will probably be referred to as its "price". There will be other potential names for this product's name if the thing is a "service," though.

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Costco wholesale corporation changed its generous return merchandise policy for electronic goods to 90 days and the company suggests having a receipt. why would such a policy change be necessary?

Answers

Costco wholesale corporation changed its generous return merchandise policy for electronic goods to 90 days and the company suggests having a receipt. Such a policy change be necessary because -"This customer service was costing Costco money."

What is meant by return policy?

A return policy is a written document outlining the procedures for returning purchased products or services. These policies frequently include reimbursement information, return requirements, timeframes, and contact information for customer support.

Every return policy should include a few key points to help consumers know the limitations and allowances your company makes for returns. This section contains the "meat" of your return policy, as it describes how much you'll accept from customers and how you'll refund them.It's critical to inform your customers about how long those who have to return a goods. In general, 15-30 days is conventional, though some businesses prefer 90 days. In either case, accepting returns after that time will do you no favors.Customers will try to return goods months, even years after they've been purchased if a time frame for returns is not disclosed.

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The new york stock exchange, where financial investors buy and sell existing stock, is an example of _______.

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The new york stock exchange, where financial investors buy and sell existing stock, is an example of the secondary market.

A market is a composition of structures, institutions, approaches, social family members or infrastructures whereby parties interact in trade. at the same time as events can also alternate goods and offerings by way of barter, most markets depend upon dealers imparting their goods or offerings to shoppers in exchange for money.

A marketplace is an area wherein consumers and sellers can meet to facilitate the alternate or transaction of goods and offerings. Markets may be bodily like a retail outlet, or virtual like an e-store. other examples include illegal markets, public sale markets, and financial markets.

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When the economy is strong, consumers are _____ likely to borrow money to purchase a home or go on a vacation.

Answers

When the economy is strong, consumers are more likely to borrow money or take loans to purchase a home or go on a vacation.

What is loan?

A loan occurs when one or more individuals, businesses, or other entities lend money to additional individuals, businesses, or other entities. The recipient incurs a debt and is frequently liable for interest charges up until the debt is paid off, in addition to the principle amount borrowed.

A person having strong and stable economy, have a high confidence that he will definitely repay the money he borrowed for any purpose. and this will made them more likely to borrow money for purposes like purchasing home or going on a vacation.

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Two individuals signed a contract that was intended to be their entire agreement. the parol evidence rule will prevent the admission of evidence offered to?

Answers

The parol evidence rule will prevent the admission of evidence offered to prove the existence of a contemporaneous oral agreement modifying the contract.

Parol evidence refers to anything that was said, done, or written before the parties signed the agreement or as they signed it.

Therefore anything that was done or said before signing the agreement or contract will pevent the admission of evidence .

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The adjusted trial balance provides account balances reported in which financial statements?

Answers

The adjusted trial balance provides account balances reported in which financial statements:

Statement of stockholders' equity

Balance sheet

Income statement

What is Income statement?

One of the most often and important financial statements you're likely to see is an income statement. Income statements, sometimes referred to as profit and loss (P&L) statements, include the cumulative effect of revenue, gain, expense, and loss transactions and include a summary of all income and expenses for a specific period.

Therefore,

Statement of stockholders' equity

Balance sheet

Income statement

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Like a mortgage, a deed of trust has the __________ to enforce repayment of a debt.

Answers

Like a mortgage, a deed of trust has the power of the law to enforce repayment of a debt.

What is repayment of a debt?

Repayment refers to the act of returning money that has been borrowed from a lender. The return of funds often occurs through recurrent payments that comprise both principal and interest. The initial amount borrowed in a loan is referred to as the principle. In general, three debt repayment methods can aid individuals in more effectively reducing or eliminating their debt. Pay off the smallest debt as quickly as you can. Pay the bare minimum on all other loans. Then apply that extra money to the following biggest loan.

Therefore,

Like a mortgage, a deed of trust has the power of the law to enforce repayment of a debt.

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A customer with additional funds to invest seeks income, but thinks his portfolio is too heavily weighted in debt securities. the best recommendation to the customer is:_____.

Answers

For the customer with an additional funds to invest seeks income but thinks his portfolio is too heavily weighted in debt securities, the best recommendation to the customer is a Preferred stocks.

What is a Preferred stocks?

It is a distinct equity that represents ownership of a company, right to claim income from the company's operations. The holders of preferred stock have a higher claim on distributions than common stockholders and usually have no or limited, voting rights in corporate governance

As this customer does not want to buy any more bonds; the Preferred stock is a fixed income equity security, so it meets the customer's requirement that the recommendation not be a bond and it pays a fixed dividend rate (similar to bonds) for income.

In conclusion, for the customer with an additional funds to invest seeks income but thinks his portfolio is too heavily weighted in debt securities, the best recommendation to the customer is a Preferred stocks.

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One financial intermediary in our financial structure that helps to reduce the moral hazard from arising from the principal-agent problem is the.

Answers

The venture capital firm is one financial intermediary in our financial system that aids in lowering the moral hazard that results from the principal-agent problem.

A conflict of interests between a person or group and the agent appointed to act on their behalf is known as the principal-agent problem. It is possible for an agent to take actions that are not in the principal's best interests.

As varied as the principle and agent tasks are, so too is the principal-agent problem. It can happen in any circumstance where the principal or owner of an asset transfers direct control of the asset to a third party or agent.

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Liability without fault is referred to as: _________
a. censored liability.
b. negligence.
c. strict liability.
d. products liability.

Answers

Liability without fault is referred to as: strict liability. Strict liability is defined as liability that is present regardless of fault. In circumstances involving strict liability, this means that the defendant is responsible even if he did not intend to hurt the plaintiff and did not bring about the incident via carelessness or negligence.

The Rule of Strict Liability, often called The Rule of No-Fault Liability, states that a person may be liable even though they are not at fault.

Although the person in this scenario may not have committed any damaging or careless acts and may even have made some constructive attempts, the rule nonetheless entitles him to compensation.

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__________ is a combination of passion and perseverance for a singularly important goal, together with resilience and a tolerance for feeling frustrated.

Answers

The answer is grit.

Grit is a combination of passion and perseverance for a singularly important goal, together with resilience and a tolerance for feeling frustrated.

What is the meaning of grit in psychology?

Grit is a desirable, non-cognitive quality in psychology that is based on a person's enthusiasm and tenacity in pursuing a certain long-term objective or end state. It is the capacity to stick with something you are enthusiastic about and show tenacity in the face of challenges. This type of passion is not characterized by strong feelings or infatuation. It all comes down to commitment and direction.

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One advantage of a fixed exchange rate system compared to a floating or managed float exchange rate system is:_________

Answers

A fixed exchange rate system has advantages over a floating or managed float exchange rate system, including lower inflation.

Defining a Fixed Exchange Rate

A fixed exchange rate is a method used by a government or central bank to relate the value of the country's legal tender to the value of the currency of another country or the price of gold. The aim of a fixed exchange rate system is to keep the value of a currency within a predetermined range.

Maintaining a currency's value within a predetermined range is the goal of a fixed exchange rate system.

Fixed exchange rates increase the security of exporters and importers while helping the government maintain low inflation.

A number of developed nations adopted the floating exchange rate system in the early 1970s.

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A job opening for someone who "has the ability to use analytical reasoning and relevant judgment to address customer service issues, as well as generate new ideas," would be best filled by a(n)?

Answers

A job opening for someone who "has the ability to use analytical reasoning and relevant judgment to address customer service issues, as well as generate new ideas," would be best filled by knowledge worker.

What is analytical reasoning?

The ability to look at information, whether it be qualitative or quantitative in nature, and identify patterns within the information is known as analytical reasoning, also known as analytical thinking. Understanding the fundamental relationships in a set of relationships, recognizing logically equivalent statements, and inferring what could be true or must be true from given facts and rules are all examples of analytical reasoning. Analytical reasoning also involves deductive reasoning without the need for specialized knowledge.

The qualities mentioned in the question such as having ability to use analytical reasoning, having relevant judgement to address customer service issues, and ability to generate new ideas would be perfect for the role of knowledge worker.

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True or false: total assets must always be equal to total liabilities less stockholders' equity

Answers

The statement, that total assets must always be equal to total liabilities less stockholders' equity, is false.

What is accounting equation?

The accounting equation indicates that the total assets of a company are financed  by a combination of its equity and liabilities, which means total assets are equal equity plus liabilities

total assets=equity+ liabilities

The above shows that the statement that total assets can be determined as total liabilities minus  stockholders' equity is incorrect.

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If the contribution margin ratio is 50%, target operating income is $30,000, and the sales revenue needed to achieve the target operating income is $300,000, what are total fixed expenses?

Answers

If the target operating income is $30,000, the contribution margin ratio is 50%, and $300,000 in sales revenue is required to reach the target operating income.

S- VC= CM - FC = P

.52(300,000) - FC = $30,000

150,000 - FC = $30,000

120,000 FC (150 000 - 30,000) represents the total fixed costs.

Defined Fixed Expenses

Making accurate financial budgets with the aid of cost and expense calculations.

Any expense that is constant throughout time, such as rent or mortgage payments, utility bills, and loan payments, is referred to as a fixed expense. Although the amounts may vary slightly—as with utilities—you are aware that they are regularly due.

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This benefit is conferred by the corporate form of organization in which an investor;s personal responsibility for the debt of the business are limited to the amount the investor has invested in the firm.

Answers

Limited Liability is the benefit conferred by the corporate form of organizations in which an investor's personal responsibility for the debt of the business is limited to the amount the investor has invested in the firm.

Limited liability enables people to escape personal responsibility for a corporate entity's losses, enabling risk-averse people to take on risks that they otherwise would not have. This means that in order to satisfy their debts, the creditors of an incorporated corporation cannot go after the owner's personal assets. Owners of a business that operates as a corporation are responsible for all debts and business losses up to the amount they invested in the corporation.

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Modern marketers use blank______ to focus how they approach their customers and market their products.

Answers

Modern marketers use blank data analytics to focus how they approach their customers and market their products.

What is data analytics?

Data analytics is the study of examining unprocessed data to draw inferences about that data. Numerous methods and procedures used in data analytics have been mechanized into mechanical procedures and algorithms that operate on raw data for human consumption.

The phrase "data analytics" is wide and includes a variety of different methods of data analysis. To gain knowledge that may be used to improve things, any sort of information can be submitted to data analytics techniques.

Data analytics methods can highlight measurements and trends that would otherwise be buried in the sea of data. A business or system's total efficiency can then be raised by using this information to optimize processes.

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A recent survey found that of those surveyed, over 25 round their most recent job through __________.

Answers

A recent survey found that of those surveyed, over 25 round their most recent job through Social media.

What is Social media?

Websites and programmes that emphasise collaboration, sharing of content, engagement, and community-based feedback are collectively referred to as social media. Social media is used by people to connect and communicate with their friends, family, and other communities. The use of social media has become a daily requirement in today's culture. Social media is primarily utilised for decision-making, news and information access, and social interaction. It is a useful tool for sharing, creating, and disseminating information as well as for communicating with people locally and globally.

Therefore,

A recent survey found that of those surveyed, over 25 round their most recent job through Social media.

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To develop a co-culture successfully in a cross-cultural business relationship, ______ mind-set is important.

Answers

To develop a co-culture successfully in a cross-cultural business relationship, an open mind-set is important.

What is cross-cultural business?

In cross-cultural business contexts, people are exposed to a wide range of cultural norms, including good manners, nonverbal and verbal communication, dialects, and foreign government practices. International business refers to the transfer of goods, services, technology, money, and/or information throughout national boundaries and on a global or multilateral scale. There are involved cross-border exchanges of goods and services among two or more countries.

Therefore,

To develop a co-culture successfully in a cross-cultural business relationship, an open mind-set is important.

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When the author of the passage describes the Incan civilization as the "greatest empire on Earth," he meant that it An experiment conducted by a health care practitioner to evaluate treatments or interventions and their effectiveness over time is called a:_______ When monitoring a patient who is taking hydrochlorothiazide (hydrodiuril), the nurse notes that which drug is most likely to cause a severe interaction with the diuretic? Most elements are metals. What is aphysical property of metals?A. They conduct heat.B. They are man-made.C. They float in water. Lowest term for 6/32 She notices that the muscle cells are loaded with mitochondria while the macrophages have abundant lysosomes. why is this so? What proportion of people surveyed would be willing to pay more than $6.75 for a sandwich? Exercise 2 Correct each personal pronoun in italics so it agrees with its antecedent in the sentence. Cross out the incorrect pronoun, and write the correct word above it. Do not change any pronouns that already agree with the antecedent in number and gender. David forgot to pay her club dues. Exercise 1 In the blank write n if the italicized word is used a noun. Write p if it is used as a pronoun. Write v if it is used as a verb. Write adj. if it is used as an adjective. Write adv. if it is used as an adverb. Write c if it is used as a conjunction. Write prep. if it is used as a preposition. Write i if it is used as an interjection.I told her I would call her before next Monday. A registration statemtn has been filed for an upcoming ipo, as an investment banking reprsesentative you could send the client? Does anyone get this thanks 2/3+3/5 dont mind this i just need help Which of the following could be the rectangle's length and width?(Area = length x width)Choose all answers that apply:A) 1 cm and 15 cmB) 2 cm and 7 cmC) 3 cm and 5 cmD) 4 cm and 4 cm Please Help. This is needed to study for my test TOMORROW!!!!Where did the French settle in America and Canada.For America I'm looking for the specific states, and similarly for Canada The somatogenic perspective did not truly begin to benefit patients until the discovery of psychotropic medications in the:________ Taking the ethological approach, an infant develops an emotional bond with the caregiver because:___. 2^5/4 = 2^5/2^a = c a= b= c=What are the answers pls Exercise 2 Write D.O. above the direct objects and I.O. above the indirect objects.By the late nineteenth century, organizations were providing forecasters standards for weather records. The single most important feature to consider when purchasing a scuba regulator is:________ Which structure of the integumentary is responsible for producing sweat and helpingto cool the body?sebaceous glandepidermissudoriferous glanddermis