To obtain financing for a business, it is important to; a. Offer collateral b. Determine the amount of money needed c. Make arrangements to pay back d. All of the above
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To obtain financing for a business, it is important to;
Offer collateral
Determine the amount of money needed
Make arrangements to pay back
All of the above
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- To purchase an asset such as office equipment on account, you would credit which account? (a) Cash (c) Accounts Payable (b) Accounts Receivable (d) CapitalFor money to accrue to a business, it needs to: a.Have been earned by the business b.Have been received and earned by the business c.Have been received by the businessWrite examples of each kind of business activity: (a) operating, (b) investing, and (c) financing.
- Which of the following should show a profit in order for a financial institution to give a the company a loan a) income statement b) rent expense c) accelerated depreciation d) accounts receivable a) income statement b) rent expense c) accelerated depreciation d) accounts receivableThe users of financial information can understand the strength and weakness of the business concern with the help of: a.Profit and loss account b.Balance Sheet c.Statement of cash flows d.Profit and loss appropriation account *Repy fast plz***The journal entry to record the sale of services on credit should include:(a) Debit to debtors and credit to capital.(b) Debit to cash and Credit to debtors.(c) Debit to fees income and Credit to debtors.(d) Debit to debtors and Credit to fees income.
- Match each transaction to one of the following activities of an organization: financing activity(F), investing activity (I), or operating activity (O). An owner contributes cash to the business.Which one of the following is not a nominal account?A. purchases accountB. sales accountC. salaries accountD. cash account Which one of the following is a characteristic of a valid business transaction? A. It is an event measurable in terms of money B. It affects the financial position of the business C. It should be supported by a source document D. All of the aboveExamine the business activity and decide for its classification from the choices below. Also, indicate if it is an inflow (-) or outflow (+). Activity: Pay employee salaries Choices: (O) Cash flow from operating activity (I) Cash flow from investing activity (F) Cash flow from financing activity (NC) Non-cash investing/financing activity
- tell whether the assets, liabilities andequity will increase (I), decrease (D) or is notaffected (NE). The company purchases supplies on credit.which of the following is an operating avtivity? A. billing customers for services rendered but not yet paid for B. paying off a loan to the bank C. purchasing equipment for cash D. receiving cash investments from ownersThe......of a business is the amount of income A-Revenue B-venture C-assest D-fund