The process of balancing of an account involves equalization of both sides of the account. If...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The process of balancing of an account involves equalization of both sides of the account. If the debt side of an account exceeds the credit side, the difference is put on the credit side. The said balance is - (i) A debit balance (ii) A credit balance (iii) An expenditure or an asset (iv) An income or a liability Select the correct answer from the options given below- Only (ii) above A B с D Only (iv) above Both (i) and (iii) above Both (ii) and (iii) above The process of balancing of an account involves equalization of both sides of the account. If the debt side of an account exceeds the credit side, the difference is put on the credit side. The said balance is - (i) A debit balance (ii) A credit balance (iii) An expenditure or an asset (iv) An income or a liability Select the correct answer from the options given below- Only (ii) above A B с D Only (iv) above Both (i) and (iii) above Both (ii) and (iii) above
Expert Answer:
Answer rating: 100% (QA)
The process of balancing of an account involves equalizatio... View the full answer
Related Book For
Probability and Statistical Inference
ISBN: 978-0321923271
9th edition
Authors: Robert V. Hogg, Elliot Tanis, Dale Zimmerman
Posted Date:
Students also viewed these accounting questions
-
The joint pmf of X and Y is f(x, y) = 1/6, 0 x + y 2, where x and y are nonnegative integers. (a) Sketch the support of X and Y. (b) Record the marginal pmfs fX(x) and fY(y) in the margins. (c)...
-
The joint probability density function of X and Y is given by f (x, y) = e(x+y) 0 x < , 0 y < Find (a) P{X < Y} (b) P{X < a}.
-
The joint density of X and Y is f (x, y) = c(x2 y2)ex 0 x < , x y x Find the conditional distribution of Y, given X = x.
-
Ruff, Tuff, and Duff are parners sharing profits and losses 30/30/40 respectively. Their balance sheet is below: Cash Receivable from Ruff Property & Equipment $200,000 10,000 500,000 $710,000...
-
On December 31,2016, Carrboro Textile Company had short-term debt in the form of notes payable totaling $600,000. These notes were due on June 1, 2017. Carrboro expected to refinance these notes on a...
-
Write a 500- to 1,000-word description of one of the following processes or a similar process with which you are familiar. Include appropriate graphics. In a note preceding the description, specify...
-
The 2005 comparative balance sheet and income statement of Get Wired, Inc., follow on the next page. Get Wired, Inc., had no noncash investing and financing transactions during 2005. During the year,...
-
Why are time value concepts important in ordinary business dealings, especially those involving contracts?
-
Caro Manufacturing has two production departments, Machining and Assembly, and two service departments, Maintenance and Cafeteria. Direct costs for each department and the proportion of service costs...
-
A house with a total living area of 2,500 square feet would cost $110 per square foot to reproduce new. It has an expected economic life of 50 years and is estimated to have an effective age of five...
-
You work as a financial controller In a food production company. The sales director of your company is entitled to a bonus (equal to 50% of the annual net salary) estimated based on the following...
-
"Were you aware of the potential negatives of driving an EV?"
-
At a local discount store 5 toasters ovens and 8 slow cookers cost $350 while 9 toaster ovens and 5 slow cookers cost $395. How much does one toaster oven cost? How much is one slow cooker? Cost of a...
-
What does charitable purposes mean inyour opinion? Go online and find a state law dealing with tax exemption. Did it make sense? Did it define charitable purposes? Did looking up a state law help you...
-
Explain what laws/regulations can be used or applied to these people if they decide to file a discrimination complaint for not being accepted in a job because of their gender and age?
-
Lehigh University is planning to issue 5 year bonds with a face value of $50,000 on January 1, 2016. The coupon or stated rate for the bond is 10% and is paid quarterly. The market rate for similar...
-
3. The volume of this package is 150 cm. 6 cm Granola Bits 5 cm Determine the length of the package.
-
(a) Find the equation of the tangent line to f(x) = x 3 at the point where x = 2. (b) Graph the tangent line and the function on the same axes. If the tangent line is used to estimate values of the...
-
With a = 3 and b = 4, find , i, and j if ij, i = 1, 2, 3 and j = 1, 2, 3, 4, are given by In an additive model such as this one, one row (column) can be determined by adding a constant value to each...
-
Let X1 and X2 be two independent random variables. Let X1 and Y = X1 + X2 be 2(r1) and 2(r), respectively, where r1 < r. (a) Find the mgf of X2. (b) What is its distribution?
-
If Z is N(0, 1), find (a) P(0 Z 0.87). (b) P(2.64 Z 0). (c) P(2.13 Z 0.56). (d) P(|Z| > 1.39). (e) P(Z < 1.62). (f) P(|Z| > 1). (g) P(|Z| > 2). (h) P(|Z| > 3).
-
The equation of motion of a rocket, of mass \(m\), traveling vertically under a thrust \(F\) and air resistance or drag \(D\) is given by \[m \dot{u}=F-D-m g\] If \(m=1000 \mathrm{~kg}, F=50,000...
-
Find the natural frequency of the system shown in Fig. 2.54. Figure 2.54:- Rotating machine B Isolator (Helical springs) FIGURE 2.54 Isolated rotating machine. Foundation block
-
Use Rayleigh's method to solve Problem 2.93. Data From Problem 2.93:- A uniform slender rod of mass \(m\) and length \(l\) is hinged at point \(A\) and is attached to four linear springs and one...
Study smarter with the SolutionInn App