A purchase of an asset on account increases cash. decreases owner's equity. increases assets. decreases expenses

Answers

Answer 1

Answer:

A purchase of an asset on account increases assets. The assets account is increased due to the new addition of purchased asset. It also increases the liability section because it was purchased on account. Any purchase, addition or acquisition of assets will increase the assets account while any removal or disposal of assets decreases it.

Related Questions

Suppose the Federal Reserve engages in open-market operations. It sells $20 billion in U.S. securities. It also raises the reserve ratio. This causes excess reserves to _______, the money supply to ________, and the money multiplier to ________.a. decrease; decrease; decreaseb. decrease; increase; increasec. increase; increase; increased. increase; decrease; decrease
The price of one necklace is the same as the price of five rings. One ring costs $320. The cost of a necklace is
Investor Tyler’s property has a potential rental income of $19,000. The vacancy and collection losses for the year were $2,680. The property had operating expenses of $6,160. Tyler’s mortgage expenses for the property were $7,700. What is the before tax cash flow for Tyler’s property?
Rugged Bicycles, Inc. collects 25% of its sales on account in the month of the sale and 75% in the month following the sale. If sales are budgeted to be $400,000 for March and $450,000 for April, what are the budgeted cash receipts from sales on account for April?
When you borrow money, you are charged _____. When you put your money in the bank and save it, you earn _____. interest, interest interest, inflation interest, the money supply?

According to leading entrepeneur, Guy Kawasaki, the best reason to start a new business is to ______.be your own boss

make a large profit

make the world a better place

achieve success

Answers

Answer:

make the world a better place

Explanation:

Answer:

C. Make the world a better place

Explanation:

"The best reason to start an organization is to make meaning - to create a product or service to make the world a better place."

—Guy Kawasaki, entrepreneur, investor, author

If Ted wants to buy a house and believes that interest rates will rise, he should __________. apply for a fixed-rate mortgage apply for an adjustable-rate mortgage use his credit card wait until a better time

Answers

Apply for a fixed rate mortgage

What happens to your tax liability with proper financial planning?You can________your tax liability through proper financial planning.

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Answer:

Minimize

Explanation:

The tax liability is the amount of money that an individual, an organization or an institution owes to the government, and has to pay for the profits he has made in the current year. Through proper planning you can minimize your tax liability, how´s this?, well you can buy things and declare them, or you can donate a certain amount of money to a charity tht you choose, in order to save some tax dollars or at least send them where you think they could serve better.

You can minimize your tax liability through proper financial planning.

How can you minimize the tax liability ?

There are a number of deductions and credits that you may be eligible for, such as the mortgage interest deduction, the child tax credit, and the earned income tax credit.

You can reduce your tax liability by timing your income and expenses so that you have more deductions in one year and less deductions in another year.

There are a number of tax-advantaged accounts available, such as 401(k)s, IRAs, and HSAs. These accounts allow you to save money for retirement or other goals without having to pay taxes on your contributions or earnings.

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Mortgage loan originator Carol is in a hurry to leave on her vacation, and she leaves a customer's file that contains his Social Security number and bank account numbers on her desk. Carol's carelessness is violating what federal law

Answers

Answer: Fair and Accurate Credit Transaction Act

Explanation:

From the question, we are informed that Mortgage loan originator Carol is in a hurry to leave on her vacation, and she leaves a customer's file that contains his Social Security number and bank account numbers on her desk.

Carol is violating the Fair and Accurate Credit Transaction Act. The Act was put in place to detect and also hinder Identity theft.

net primary production of the peruvian lowland rainforest is 2200 g/m^2/yr. assuming 60% of gross primary production is lost as autotroph respiration, the gross primary productivity of the forest is question 16 options: 880 g/m^2/yr 5500 g/m^2/yr 3666.67 g/m^2/yr 1320 g/m^2/yr 13,200 g/m^2/yr

Answers

The gross primary productivity of the forest is 5500 g/m^2/yr. The correct option is b.

The net primary production of the Peruvian lowland rainforest is 2200 g/m^2/yr, and 60% of gross primary production is lost as autotroph respiration. To calculate the gross primary productivity, you can use the following formula:

Net Primary Production = Gross Primary Production * (1 - Autotroph Respiration Percentage)

Rearrange the formula to solve for Gross Primary Production:

Gross Primary Production = Net Primary Production / (1 - Autotroph Respiration Percentage)

Substitute the given values:

Gross Primary Production = 2200 g/m^2/yr / (1 - 0.60)

Gross Primary Production = 2200 g/m^2/yr / 0.40

Gross Primary Production = 5500 g/m^2/yr

So, the gross primary productivity of the forest is 5500 g/m^2/yr. The correct option is b.

Learn more about Productivity: brainly.com/question/28984195

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What are the three main categories of insurance business?

Answers

health ,home owners ,and auto

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