Answer:
c. The amount of the debits must equal the amount of the credits.
Explanation:
a. The number of debit accounts must equal the number of credit accounts.
An account means one record entry of a transaction. There may be more credit or more debit accounts, depending on the transactions.
b. There must always be entries made on both sides of the accounting equation.
Although this happens most often, it is not always true.
The Accounting Equation: Assets = Liabilities + Owner's Equity
The two sides are separated by the equal sign. There can be a transaction that's only on one side. Example:
I buy a chair for $50 cash. Only the furniture and cash accounts are affected, and they are both on the assets side.
c. The amount of the debits must equal the amount of the credits.
This must always be equal. When you increase an asset (debit), you will increase owner's equity (credit). When you decrease an asset (credit) you could either decrease owner's equity or liability (debit).
d. There must only be two accounts affected by any transaction.
This is untrue. Sometimes, three or more accounts can be affected. For example, if I buy a chair, giving $20 down payment and borrowing $30 from the bank. The three accounts affected are furniture (increase by $50), cash (decrease by $20), and bank loan (increase by $30).
In a double-entry accounting system, the amount of the debits must equal the amount of the credits in every transaction.
In recording an accounting transaction in a double-entry system, the correct statement is: c. the amount of the debits must equal the amount of the credits.
In a double-entry system, every transaction affects at least two accounts. The total amount debited in a transaction must always be equal to the total amount credited. This ensures that the accounting equation (assets = liabilities + equity) remains in balance.
For example, if a company purchases inventory for $500, it would debit the inventory account by $500 and credit the accounts payable account by $500, ensuring that the debits ($500) equal the credits ($500).
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Answer:
The Cash Method
Explanation:
The cash accounting method records income when cash is received and expenses incurred in cash. As the basis of accounting, income is deducted when expenses are deducted regardless of the alternative method of accounting for income items when it is earned.
Two main advantages of the cash method of calculation:
(1) The cash method comes with faster or delaying payments and gives businesses more flexibility in terms of withdrawals
(2) ease of bookkeeping in accounting.
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b. interchangeable parts
c. assembly line
d. training in each part of production
capital good is the answer
Answer:
the answer is D Depreciation.
Explanation:
Depreciation is a non-cash expense. It represents the decrease in value of a long-term asset over time due to wear and tear, obsolescence, or other factors. While depreciation affects the value of an asset, it does not involve any cash outflow or payment.
To understand this concept, let's take an example. Suppose a company purchases a delivery truck for $50,000. Over time, the truck's value will decrease due to factors such as usage, age, and technological advancements. The company recognizes this decrease in value as an expense called depreciation. However, no actual cash is paid for depreciation; it is simply an accounting entry to reflect the decrease in the truck's value over time.
On the other hand, the other options listed are not non-cash expenses:
A. Cost of Goods Sold (COGS) represents the direct costs involved in producing goods or services and includes expenses like raw materials and direct labor. COGS typically involves cash outflows.
B. Salaries represent the compensation paid to employees for their work. Salaries are generally paid in cash.
C. Office Supplies refer to items used in day-to-day office operations, such as paper, pens, and ink. These supplies are usually purchased with cash.
E. Interest expense represents the cost of borrowing money. Interest expense involves cash outflows as interest payments are made to lenders.
In conclusion, depreciation is the non-cash expense among the options listed. It reflects the decrease in value of long-term assets over time but does not involve any cash outflow or payment.
Option D
Depreciation is a non-cash expense that represents the reduction in value of an asset over time due to wear and tear or obsolescence.
The correct answer is D. Depreciation.
Depreciation is a non-cash expense because it represents the reduction in value of an asset over time due to normal wear and tear, obsolescence, or other factors.
It is recorded as an expense on the income statement, but does not involve any actual cash outflow.
For example, if a company purchases a machine for $10,000 and expects it to have a useful life of 5 years, the company would record a depreciation expense of $2,000 per year ($10,000/5) on the income statement, even if they did not actually spend any cash each year.
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Answer:
C) a decreased average level of safety for passengers.
Explanation:
Traveling by airplane is still by far the most safe way to travel. The chance of being in an airplane accident (not necessarily deadly accident) is 1 in 11 million, while the chance of being in a car accident is 1 in 5,000. Flying on airplanes is not only safe, but it is becoming safer.