these are economic resources owned by the business expected for future gain. They are property and rights of value owned by the business. Liabilities Equity Income Assets

Q: What are the financial resources of the company which are also kanown as working capital

A: Financial resources is a term covering all financial funds of an organization. They are part of…

Q: he economic resources that a business owns and expects to be useful to deliver its purpose are known…

A: An asset is a resource with economic value that an individual, corporation, or enterprise owns with…

Q: The accounting equation underlies the process used to capture the effect of economic events. The…

A: Accounting equation: Accounting equation is an accounting tool expressed in the form of the…

Q: Can a business transaction cause one asset to increase with-out affecting any other asset,…

A:

Q: Costs directly attributable to a business combination include O general administrative costs. O…

A: business combination means nothing but bringing two separate entities or businesses into one…

Q: Explain how a business finances its operations and expansion.

A: On the basis of forecast of the volume of business operations and fund requirement and of the…

Q: - How do businesses follow their profits arising from the sale of tangible fixed assets in which…

A: The correct option is  A) Other Income To Be Accounted

Q: Explain the difference between capital expenditure and revenue expenditure, and how each type of…

A: Capital expenditure is an expense which is made to purchase an asset or to increase the capacity of…

Q: What account impacts the equity of a business?

A: The Equity of the business is effected by following accounts, with the transactions mentioned as…

Q: The resources of value owned by a business are called _____________. Group of answer choices…

A: Business means the activity or occupation that is done to earn the revenues.

Q: these include debts, obligations to pay, and claims of the creditors on the assets of the business.…

A: The financial statements of the business includes the income statement and balance sheet. The…

Q: How does net income affect the operation of the business?

A: The bottom line of income statement is net income. It’s the outcome of sales and gains minus the…

Q: investment

A: An entrepreneur is someone who has some business idea in his mind. The business idea may be of some…

Q: how does business owners can use the statement of profit and loss or income statement and balance…

A: The business needs a variety of financial statements to function in the business society. The…

Q: How investment decisions and financing decisions are vital functions of business activities

A: Business activities refer to the activities that are performed with a purpose to generate revenue.…

Q: Which of the following statements best defines equity (capital) of a business? A Equity represents…

A: The accounting equation states that assets equals to sum of liabilities and shareholders equity.

Q: Write examples of each kind of business activity: (a) operating, (b) investing, and (c) financing.

A: Cash flow statement is a statement which is prepared to find out the cash comes in and goes out , by…

Q: For money to accrue to a business, it needs to: a.Have been earned by the business b.Have been…

A: As per revenue recognition principles, if a company follows accrual method of accounting then…

Q: Explain the effect of operating profitably on the balance sheet of a business entity.

A:

Q: Liabilities Are things of value used by the business in its operation. O a. b. Are future economic…

A: Comment - We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: revenue may be defined as : a- increase in assets from all sources  b- the amount of capital…

A: Revenue is the income generated by a company using the assets employed by it in the normal course of…

Q: One of the financial statements is a balance sheet.  The balance sheet reflects the assets of the…

A: Given The Balance Sheet is one of the financial statements.

Q: It is defined as a business activity or event that affects a business financially

A: Business activities are related to the operations of the business. These activities are of different…

Q: If a business earns a Net Income it means: * O Capital > Revenue Revenue Expenses

A: The question is based on the concept of Financial Accounting.

Q: Assets are the O a. resources owned by the business. O b. personal property of the owners. O c. c.…

A: A business asset is an item or resources of a value owned by the company which can be tangible or…

Q: Assets are _________________________. Resources owned by suppliers of the business Resources owned…

A: Every business needs funds and other things to run business smoothly. Funds can be in the form of…

Q: While putting the value or price of an entity in financial records the lowest price is recorded not…

A: Accounting is the process of recording financial transactions (which can be measured in terms of…

Q: The​ owners' claims to the assets of the business are called​ ________.     A.equity   B.expenses…

A: As per the accounting equation,  Assets = Liabilities + Equity  and such relation always holds true.

Q: Describe the long term assets used in the business.

A: Assets: These are the resources owned and controlled by business and used to produce benefits for…

Q: The funds supplied and used by the owner of an enterprise in the expectation that a profit will be…

A: A business raises funds from various sources to make investments and finance operations of the…

Q: What is the owner’s right to the assets (claims to the assets) of the business called? Group of…

A: Solution: As per basic accounting equation: Assets = Liabilities + Owner's equity Therefore Lenders…

Q: reditors are interested on how the business managed its assets to generate revenues. True or false

A: Creditor means the person who has sold goods on credit to the company and still to be paid.

Q: most possible sources of income to a business, corporation or trust

A: Employment income or loss is applicable to individuals who are employees of an organization. This…

Q: Factors that reflect the ability of a business to pay its debts and earn a reasonable amount of…

A:

Q: When the business collects Revenues, the result is

A: When business collects revenue, the entry is; Cash A/c        Dr   xxxx      To Income A/c      xxxx…

Q: Sources of financing a business include:  Group of answer choices Raising capital owners Both…

A: Source of financing a business includes Both

Q: Based on which of the following concepts, is share capital account shown on the liability side of a…

A: Business entity concept says that both businessmen and business are separate person. Business has…

Q: The amount business owes to others is known as: Revenue Expense Liabilities Assets

A: The different accounts in business balance sheet are described as assets, liabilities and owners'…

Q: Which of the following analysis helps to understand the operational performance of the business…

A: The financial statements of the business includes the income statement and balance sheet of the…

Q: Financial statements should reflect a true and fair view of the business. Explain in your own words…

A: Financial statements are the reports those are prepared by an organization to estimate the…

Q: Show how the below transactions affect the financial position of the business as represented by A =…

A: As per accounting equation of the business, total assets must be equal to total liabilities and…

Q: Kathleen Battle says, “Retained earnings should be reported as an asset, since it is earnings which…

A: No, Kathleen Battle is not correct. The source of an asset includes some part of the retained…

Q: This concerns ensuring that company assets are being used efficiently.    a. Financial planning b.…

A: Financial planning is the detailed plan to reach to a financial goal. Financial controls are the…

Q: Investors analyze the financial statements to____________. Decide whether the company has the…

A: Answer are as follows:

Q: Essay - cite sources: Besides earning a profit, what other objectives might a business have? How…

A: Profitable businesses sometimes go under because they don't remain competitive or advance with the…

Q: What business record shows the results of the proprietorship’s borrowing assets from the business,…

A: Proprietor’s Withdrawals: An owner's withdrawal, also known as a distribution, is a transfer of cash…

Q: We can say that the business is in profit, when: Select one: a. Income exceeds Liabilities b. Assets…

A: Following is the answer to the question