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1 year ago

Which statement below best describes a profit center?

1 answer:

8 0

Answer: (B) The authority to make decisions affecting the major determinants of profit, including the power to choose its markets and sources of supply and significant control over the amount of invested capital.

Explanation:

The profit center is the type of center in which the authority makes various types of decisions that affect the major profits. It also include the power for choosing the market and the sources.

The profit center is the type of business unit which basically generate the various type of revenue and cost. It is the type of department that generate the income by using the organization resources. The profit center has the significant control on the amount of the invested capital.

Therefore, Option (B) is correct.

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Round to the nearest unit.Happy Pet, Inc., is a large pet store located in Long Beach Mall. Although the store specializes in do

mrs_skeptik [129]

Answer:

2330

23Explanation:

8 0

1 year ago

Which of the following is not a recognised type of plan?

makvit [3.9K]

Answer:

Ad hoc

Explanation:

Ad hoc is not a recognized type of plan. The following are plans that are 100% recognizable:

Business plan, Succession plan and Financial plan.

Ad hoc is a Latin word which means "for this" or "for this situation". In English, it is used to explain what has been formed for a special purpose without planning.

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1 year ago

The order of presentation of activities on the statement of cash flows is

Rufina [12.5K]

Answer:

Operating activities

Investing activities

Financing activities

Explanation:

In a cash flow statement, the activities of the organization are usually recognized in 3 parts namely; Operating activities, investing activities and financing activities.

The operating activities include elements such as net profit, non cash items, change in current assets and liabilities.

The investing activities include cash flows from the disposal and purchase of assets etc

The financing activities includes cash flows from the disposal and sale of shares etc.

The net cash flows from these activities is the netted off the cash balance at the beginning of the period to get the cash balance at the end of the period.

Hence the order of presentation of activities on the statement of cash flows is

Operating activities

Investing activities

Financing activities

6 0

2 years ago

Starlight Movies markets its DVDs and Blu-rays online. Recently, Starlight adopted a new program that offers their current custo

marusya05 [52]

Answer:

Customer loyalty strategy

Explanation:

The customer loyalty strategies are developed by a company to retain its current clients and encourage them to recommend its services or products. mainly, the client loyalty is promoted through different special discounts or additional services that a client will have if recommend the company. these strategies can be used too if the company wants the clients increase the buy of services or products; in this case if they get a certain number of products they will obtain discounts or additional products.

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1 year ago

On April 2, Kelvin sold $40,000 of inventory items on credit with the terms 1/10, net 30. Payment on $24,000 sales was received

motikmotik

Answer:

Explanation:

The journal entry is shown below:

1. Accounts receivable A/c Dr $160

To Sales discounts forfeited $160

(Being sales discount is recorded)

The computation of the sales discount is shown below:

= (Sales value - payment made) × discount rate

= ($40,000 - $24,000) × 1%

= $160

2. Cash A/c Dr $16,000

To Accounts receivable A/c $16,000

(Being cash is received)

4 0

1 year ago