If a business has clear and accurate financial records, I
1. If a business has clear and accurate financial records, I
Answer:
As a corporation or small business owner, your tax liabilities can be high, which has a negative impact on your cash flow and profitability. ... Accurate financial records will give you a clear picture so you know the funds that will be available for future business costs.
Explanation:
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2. if a business has clear and accurate financial records, i __________________________________________________________________________________
Answer:
As a corporation or small business owner, your tax liabilities can be high, which has a negative impact on your cash flow and profitability. ... Accurate financial records will give you a clear picture so you know the funds that will be available for future business costs.
Explanation:
pa brainliest
3. How accurate is the financial statement I doing a business?
Answer:
Accuracy: It is virtually impossible to ensure that financial statements are 100% accurate. The goal is that they are fairly presented and have no material errors. Some suggestions to improve accuracy might include the following.
4. what are the reasons to keep good financial record for business
Answer:
Good records will help you do the following:
Monitor the progress of your business.
Prepare your financial statements.
Identify sources of your income.
Keep track of your deductible expenses.
Keep track of your basis in property.
Prepare your tax returns.
Support items reported on your tax returns.
There are several reasons for keeping financial records and getting help from a bookkeeper:
1. Knowing Your Financial Situation
-You need to know where your company stands daily, weekly, monthly, quarterly and annually.
2. Meeting Your Tax Obligations
-You are responsible for meeting your monthly, quarterly and annual federal, state and city tax obligations.
5. A. Learning Task 1Instructions: Pick out from the box the importance of keeping businessrecords as described in each item. Use the answer sheet provided.a. monitor the progress of the businessb. prepare the financial statementsc. identify sources of incomed. keep track of the deductible expensese. keep track the basis in property1. The good records need to prepare accurate financial statement.2. The good records need to monitor the progress of a business.3. The good records can identify the sources of income.4. The good records can be a basis to figure gain or loss on disposition ofproperty.
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6. true or false. 1. a practice of CPA profession is exercised by sole propriatorship but not by partnership2.only transactions that are financial in nature are recorded in the books of accounts. 3. accounting is an information system for business decisions.4. management accounting provides reports for internal users. These financial reports observe generally accepted accounting principle.5. Business activities without financial value are not recorded in the books of accounts.6. the primary objectives of accounting is to ascertain the financial health of the business.
Answer:
true is the answer
Explanation:
find it at the book
7. Why it is important for a doctor to have an accurate detail records of the financial transaction? Maximum of three sentences.
Medical records are the document that explains all detail about the patient’s history, clinical findings, diagnostic test results, pre and postoperative care, patient’s progress and medication. If written correctly, notes will support the doctor about the correctness of treatment. Inspite of knowing the importance of proper record keeping in India, it is still in the initial stages. Medical records are the one of the most important aspect on which practically almost every medico-legal battle is won or lost. This article discusses the various aspect of record maintenance.
Keywords: Medical record, Law, Alteration, Maintenance
8. In the Philippines financial transactions are businesses are recorded in the Philippine peso values?
Answer:
In the Philippines financial transactions are businesses are recorded in the Philippine peso values?
9. __________________ is the recording of financial transactions, and is part of the process of accounting in business.
Answer:
Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business.Step-by-step explanation:
Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business.10. why is it necessary for businesses to record financial transactions in a chronological order?
Answer:It is very important that business owners make a habit of recording their business transactions every day. It will assist in making informed, efficient and precise decisions at any time. ... The auditor, will therefore spend less time at the business.
11. accounting is a process of collecting recording summarizing and analyzing financial transaction of a business true or false
Answer:
TRUE
Explanation:
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accounting is a process of collecting recording summarizing and analyzing financial transaction of a business true or false{=={=={Answer}==}==}
it's true{=={=={Explanation}==}==}
Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing and reporting these transactions to oversight agencies, regulators and tax collection entities.meaning it's a big truethank you for the nice question
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12. what is business without any financial records
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They are formal records of the financial activities and position of a business, person, or other entity. A profit and loss statement provides information on the operation of the enterprise. These include sales and the various expenses incurred during the stated periodExplanation:
#CarryOnLearning13. II. A. True Or False. Direction: Write "T” if the statement is correct and “F” if it is wrong.1. There is no "best" record keeping system for all situations.2. Financial Records refers to items that relate to quantities of inputs and levels ofproduction by enterprise and/or by resource type.3. Production Records relate primarily to money or the financial interactions of thefarm.4. Keeping and analyzing accurate production records are important and essentialaspects of farm management5. Both production and financial records are important to the efficient management oftoday's farm business6. Computer System is higher initial out-of-pocket expense.7. Hand system can be a powerful analysis tool8. The person responsible for keeping the records should develop ahabit of regularly and accurately posting transactions.9. Keeping and analyzing accurate production records are importantand essential aspects of farm management10. The person responsible for keeping the records should develop ahabit of regularly and accurately posting transactions
Answer:
1.True
2.True
3.False
4.True
5.True
6.False
7.False
8.True
9.True
10.True
Explanation:
Hope that's help. Pa brainlies po.
14. If you are to proposed a service type of business, discuss how you would successfully record business transactions and report a financial information.
Answer:
Question: if you are to proposed a service type of business, discuss how you would successfully record business transactions and report a financial information.
Answer:
If I am going to record a transactions and report a financial information, I will use the journal entries.
Journal entries. The most basic method used to record a transaction is the journal entry, where the accountant manually enters the account numbers and debits and credits for each individual transaction. This approach is time-consuming and subject to error, and so is usually reserved for adjustments and special entries.
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15. what are written records that convey the business activities and financial performance of a company
Answer:
Financial statements are written records that convey the business activities and the financial performance of a company. The balance sheet provides an overview of assets, liabilities, and stockholders' equity as a snapshot in time.
Explanation:
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16. 9WII FILL IN THE BLANKSDirection: the banks with word or group of words to complete the sentences below. Write youranswer on the space provided.There are two main types of records that a farmer must keep. These areandrecords.and expenditures are comprising the financialrecords that include records of salesdepreciation records,andpayable or receivable. Allthese falls into the financial records category. On the other hand,plantquantities of inputs being applied in the farm contain are some ofwhat production records contain. This may also include data on how many animals are beingraised and animals' health history,andaccurateproduction records areaspects of farm management. Both production andfinancial records are critical to themanagement of farm's business,
Answer:
awan ko eh
Explanation:
sorna wala si me alam
17. 4. It is the process of recording and organizing a business's financial transactions which also refers to the different recording techniques businesses.
Answer:
Bookkeeping is the process of recording and organizing a business's financial transactions. It also refers to the different recording techniques businesses use to keep track of their financial records.
18. when both production and financial records is accurately maintained and categorized.it can be used to produce [blank] information
Answer:
When both production and financial records is accurately maintain and categorized it can be used to produce reliable information
19. Part II. True or False Direction: Analyze each statement then write TRUE if the statement is correct and write FALSE if the statement is wrong 18. A business record must be retrievable at an earlier date so that the business dealings can be accurately reviewed as required, 19. Good records can decrease the likelihood of business success 20. Financial statements can help in dealing with the bank or creditors and help manage the business,
18.true
19.False
20.true
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Answer:
TRUE
TRUE
TRUE
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20. 1.Why is doing a financial statement is important in a business plan? 2. How accurate is the financial statement I doing a business? 3. Why do you have to compute for the breakeven analysis?
Answer:
1.Financial statements are important because they contain significant information about a company's financial health. Financial statements help companies make informed decisions since they highlight which areas of the company provide the best ROI (return on investment).
2.Having accurate financial statements gives you a clear understanding of how your business is doing. You can use that data to help make important business decisions. For example, do you have enough money to expand the business? It can also help identify business opportunities for future growth.
3.The calculation for the break-even point can be done one of two ways; one is to determine the amount of units that need to be sold, or the second is the amount of sales, in dollars, that need to happen. The break-even point allows a company to know when it, or one of its products, will start to be profitable.
21. Exercise 1: TRUE or FALSE. Write A if the statement is true and B if the statement is false.1. Records are not sources of documents.2. Record keeping is not necessary in business operation.3. Good records can increase the likelihood of business success.4. An income statement shows the assets, liabilities and equity of a businesson a given date.5. Your records can identify the sources of your income.6. Bookkeeping is the recording of financial transactions, and is part of theprocess of accounting in business.7. You need good records to prepare accurate financial statements.8. Profit will not be determined by the money you get from sales, cost of stockand of course, all the expenses you incur.9. A double-entry system uses only income and expense accounts, recordedprimarily in a revenue and expense journal.
Answer:
1. B
2. B
3. A
4. A
5. A
6. B
7. A
8. B
9. B
Answer:
1.true
2.false
3.true
4.true
5.false
6.true
7.true
8.false
9.true
22. 5. It consists of kitchen waste including vegetables and fruit peels and pieces, Egg shells and Bones.a. E-wasteb. Wet wastec. Dry wasted. biomedical waste6. Gives used items or old items a new life, It is the key component of hierarchy.a. Reducingb. RecyclingC. Reusingd. Reproduction7. Farm records should providea. Accurateb. Financialand necessary information.c. Usefuld. Production8. Relate primarily to money or the financial interactions of the farm.a. Accurateb. Financialc. Usefuld. Production9. Are items that relate to quantities of inputs and levels of production by enterprise and/or byresource type.a. Accurateb. Financialc. Usefuld. Production10. Is a management tool to help the owner to know the state of a business or enterprise at any timeand to have reliable information on which to base his or her plans for development of the business.a. Record keeping b. Financial Recordc. Decision Making d. Production11. When both production and financial records is accurately maintained and categorized, it can beused to produceinformation.a. Record keeping b. Financial Recordc. Decision Making d. Production12. Is someone who sells goods and services to the marketa. preacherb. teacherc. entrepreneurd. engineer
Answer:
5. c
6. b
7. a
8. b
9. d
10. a or b
11. a
12. c
23. why there is a need for you to keeping accurate records of the financial statements?
It is essential in accounting to keep accurate records of the financial statements because if there are incomplete or lack in information, the financial statement would be unbalanced.
24. If you will be given a chance to start your own business, what would it be? Why? Make a simple business plan of your chosen business. Write your answer on a clean sheet of yellow paper. The scoring rubric for this activity is given below. Excellent: 5pts Average: 3pts. Originality 100% original work The business plan contains all the information needed Content and has accurate Knowledge computation of projected financial statements. Present in clean Presentation sheets of paper and readable. 50% original work The business plan contains incomplete information needed and has accurate computation of projected financial statements. Present in unclean sheets of paper and readable. Needs Improvement: 2pts. Not original work The business plan contains incomplete information needed and has inaccurate computation of projected financial statements. Present in unclean sheets of paper and unreadable.
Answer:
1. it would be a MILK TEA Store/shop
- This business is one of the most profitable right now because this is famous and a lot of people especially the millennials or gen z really like it.
My targets:
- first I need a money to start a business, I must loan for small or big business.
- second to study how my business work especially in this time of pandemic.
- third I need to look for good location, a location that a lot of people.
- fourth I need to know who is my costumer, students must be my target customers.
- fifth is the price for it, it should be a affordable especially for students because they're my target customers. so my price will range to 59 to 30 pesos so the students can afford to buy it.
Explanation:
Hope it helps. pa BRAINLIESTS po
25. T. L. EDirection: Write "T" if the statement is correct and "F" if it is wrong. Copy and Answer this in your notebook. 1. There is no "best" record keeping system for all situations. 2. Financial Records refers to items that relate to quantities of inputs and levels of production by enterprise and/or by resource type. 3. Production Records relate primarily to money or the financial interactions of the farm. 4. Keeping and analyzing accurate production records are important and essential aspects of farm management 5. Both production and financial records are important to the efficient management of today's farm business
TF. dahil Production records dapatF .dahil financiak records dapatTT
26. true or false1. a practice of CPA profession is exercised by sole propriatorship but not by partnership2.only transactions that are financial in nature are recorded in the books of accounts. 3. accounting is an information system for business decisions.4. management accounting provides reports for internal users. These financial reports observe generally accepted accounting principle.5. Business activities without financial value are not recorded in the books of accounts.6. the primary objectives of accounting is to ascertain the financial health of the business.
Answer:
1.true
2.true
3.
27. How do chart of accounts and recording transactions in the general journal help in maintaining accurate financial records in bookkeeping
Answer:
Answer: bookkeeper, or accounting clerk, records operating transactions by debiting and crediting financial accounts such as asset, liability, equity, revenue and expense. An accounting clerk debits an expense or asset account to increase its balance, and credits the account to reduce its amount.
Explanation:
28. is keeping financial records helpful to business owners? Justify
It is very well important for business owners to keep financial records to keep track of the income and expenses. it is one way of keeping your business stable since you could monitor whether the business is being successful or failing
29. write an essay of why keeping financial records is necessary in any business
Answer:
You need good records to prepare accurate financial statements. These include income (profit and loss) statements and balance sheets. These statements can help you in dealing with your bank or creditors and help you manage your business
30. bookkeeping is the best process of recording and organizing a business financial transaction? TRUE OR FALSE
Answer:
True po yan sana po tama po sagot ko
Explanation:
at sana po makatulong pa brainliest na rin po ako
