The owner of a business invested $5,000 in the business. Total assets and liabilities increase on the fundamental accounting equation.
<h3>What are assets ?</h3>
Financial accounting classifies as an asset any resource that a business or other economic organization owns or manages. Anything that has the potential to provide positive economic value qualifies. The ownership value that can be turned into cash is represented by assets.
<h3>What are liability ?</h3>
A liability is defined in financial accounting as the future economic advantages that an entity must forgo for other entities as a result of previous transactions or other previous events.
<h3>Difference between asset and liability </h3>
Any possessions that could possibly result in future financial gain are considered a company's assets. Your debts to other people are called liabilities.
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Answer:
b. To ensure strict hierarchical control of the organization.
Answer:
Controllable variance
Explanation:
The controllable variance is the combination of the variable overhead, fixed overhead spending variance and together with this, the variable overhead efficiency variance is also involved
Hence, as per the given situation, the controllable variance is to be considered
Therefore the above represents the answer
Answer with Explanation:
Qualitative attributes would be the Quality of steel used, interior and exterior design of the car, additional features that it offers, etc.
These attributes are qualitative characteristics of cars because they give us feeling of superiority over other similar items. Hence the strength of steel used clearly reflects the strength of car, interior design gives comfort, exterior design increases sense of superiority, additional features that the car offers will give upperhand over other cars.
All these features of car are qualitative because these can not be measured in numbers. On the other hand, Quantitative attributes includes price of spare parts, car and mileage per litre.
Quantitative attributes are reflected in numbers and thus are more desicive in nature.
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