Answer:
1. The relationship between customer and Online - One to one
2. The relationship between customer and Satisfaction - One to many
3. The relationship between online and visits - Many to many
4. The relationship between Visits and satisfaction - Prototype
Explanation:
The relation ship with customer is often one to one. The customers are required to fill the satisfaction surveys which enable the business to understand their value in the eyes of its customers and try to improve their level of service to their customers. The customer satisfaction is important for any business as the satisfied customer may bring more customers.
The purpose why the person use the money is for medium of exchange.
<h3>What is money?</h3>
Money is a legal tender, approved by the government of a country as a means of exchange. Money is used to pay for services received and also for the purchase of goods.
Characteristics of money are:
- Store of value
- Medium of exchange
- Unit of account
Hence, the purpose why the person use the money is for medium of exchange.
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Answer:
December 31, 2022, amortization expense of copyright
Dr Amortization expense 19,500
Cr Copyright 19,500
December 31, 2022, amortization expense of patent
Dr Amortization expense 10,000
Cr Patent 10,000
No journal entry required for the Goodwill since its useful life is indefinite
Answer:
The rate at which to discount the payments to find sum borrowed is 12.68%
Explanation:
The discount rate to be used in computing the sum borrowed can e derived from the effective annual rate formula below:
Effective annual rate = (1 + Quoted interest rate/m)^m - 1
quoted interest rate is 8.40
m is the number of months in a year when compounding is done which is 12
effective annual rate=(1+8.40%/12)^12-1
effective annual rate=(1+0.01)^12-1
effective annual rate=(1.01)^12-1
effective annual rate=1.12682503
-1
effective annual rate=0.12682503=12.68%
Answer:
Option (B) is correct.
Explanation:
Amount of which adjusting entry required:
= Amount of uncollectible accounts - Balance in Allowance for uncollectible accounts
= (Balance in accounts receivable × Estimated percentage of accounts receivable to be uncollectible) - Balance in Allowance for uncollectible accounts
= ($200,000 × 4%) - $2,000
= $8,000 - $2,000
= $6,000
Therefore, the adjusting entry is as follows:
Bad debt expense A/c Dr. $6,000
To Allowance for uncollectible accounts $6,000
(To record the bad debt expense)