Question: Hello, Can someone please help me with this as soon as possible? Thank you. Question 2 Question 2 (5 Marks) Not yet saved Marked out

Hello,

Can someone please help me with this as soon as possible?

Thank you.

Question 2 Question 2 (5 Marks) Not yet saved Marked out of One of your best friends has just started an accounting course at university. After his first lesson on 'double-entry accounting' your friend approaches you and says: "I don't understand why the banks use the term 'credit' when you deposit cash in your bank account because cash is an asset, and increase in 5.00 cash should be 'debit' not 'credit'. I think the banks are misusing the word 'credit' It doesn't comply with double-entry accounting." Flag Do you agree with your friend? Explain. (Word limit: at least 50 words) question A - BUI ! 8 6 - FY

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Contact three people at your school who use information systems. List their positions, the information they need, the systems they use, and the business functions they perform.

Hello can someone please help me with this question and understand it. Thank you! Using combination and permutations, how can I figure this out or solve it? Basics of counting -- Model I. The Rule of...

Please answer Question 5 and 10 and let me know if all other answers are correct. Thank you much appreciated . Question 10 Not yet saved Marked out of 1.00 Zax decides to go through with setting up...

Hello, Can someone please help me with this as soon as possible? Thank you. Question 6 Not yet saved Question 6 (20 Marks) Marked out of Part A (4 Marks) 20.00 The Picture Patch is a photography...

i have this homework, and those slides and files are related to this homework so we have to use them insoliving it please help me solving it as soon as possible ? 1. The city that your group is...

Hello, can someone please help me answer the question attached. Thank you! This quiz covers the material from Weeks 5 and 6. Make sure you have reviewed all of that content before This exam has two...

Hello, Can someone please help me with this as soon as possible? Thank you. Question 1 Question 1 (5 Marks) Not yet saved Marked out of Identify and explain TWO (2) advantages and TWO (2)...

Please answer the questions as soon as possible . Thank you . Question 1 Determine the average-case time complexity for insertion of an element in a singly-linked list. Not yet answered Marked out of...

hello can someone please help me with these statistic question thank you so much as soon as possible please Identify each of the following variables as qualitative or quantitative. a. Drugs used b....

hello can someone please help me with these statistic question thank you so much as soon as possible please The members of a population have been numbered 11000. A sample of size 40 is to be taken...

Hello, can someone please help correct and find these answers that I couldnt identify? I will post the article after the questions. 1) Purpose of article The purpose of this research was to compare...

5 e r e 0 shown. De 12-94. A golf ball is struck with a velocity of 80 ft/s as shown. Determine the speed at which it strikes the ground at B and the time of flight from A to B. VA = 80 ft/s 45 10 d...

An 8.4 percent coupon bond issued by the state of Indiana sells for $1,000. What coupon rate on a corporate bond selling at its $1,000 par value would produce the same after-tax return to the...

The rise of coalition politics in India has transformed its electoral and governance landscape. Discuss the challenges and opportunities of coalition governments in ensuring policy stability.

1.) Write the interactions of chemical substances with each other by giving examples. 2.) Explain the differences between Detonation and Deflation. 3.) What is an explosion protection document and...

5. What problem does barter entail? Indicate the economic significance of money as a medium of exchange. What is meant by the statement We want money only to part with it? LO2.2

11. Distinguish between the resource market and the product market in the circular flow model. In what way are businesses and households both sellers and buyers in this model? What are the flows in...

10. In market economies, firms rarely worry about the availability of inputs to produce their products, whereas in command economies input availability is a constant concern. Why the difference? LO2.4