education
What type of companies have high fixed costs?
They require only office spaces, office supplies, etc. Other high fixed cost companies are airlines, automobile manufacturers, and pharmaceutical companie...
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Education
education
What inventory tracking system is used by a computerized accounting system?
Businesses with larger inventories to manage and higher turnover of product, generally favor what’s called a perpetual inventory system. This type of syst...
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education
Is depreciation included in cash flow statement?
Depreciation in cash flow statement Why is depreciation added in cash flow? It’s simple. Depreciation is a non-cash expense, which means that it needs to ...
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education
What accounts are affected by an adjusting entry?
Each adjusting entry usually affects one income statement account (a revenue or expense account) and one balance sheet account (an asset or liability acco...
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education
What is open and closed corporation?
Close Corporation (Closely Held Corporation) A corporation that does not offer its shares of stock for public sale. Open Corporation (Publicly Owned Corpo...
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education
What is corporate remittance Amex?
The remittance (payment) channels we offer at the Corporate or Cardmember level (i.e., electronic remittances, online payments, etc.). Paying on time and ...
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education
What journal entry is made when a purchase order is placed with a supplier?
There is no journal entry when a purchase order is placed with a supplier. A sent purchase order will induce the supplier to send the requested goods…. Ho...
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education
Which account groups will decrease with a debit?
Accounts decreased by debits A debit will decrease the following types of accounts: Liabilities (Notes Payable, Accounts Payable, Interest Payable, etc.) ...
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education
Where is loss on sale of asset on a income statement?
A loss in disposal of plant asset is shown in income statement as an expense (Subtracted from our profit). The asset is written off from the balance sheet...
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education
What is RM in cost?
The meaning of RM is Raw Matefial and other meanings are located at the bottom which take place within Accounting terminology and RM has 2 different meani...
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