In the preparation of the consolidated financial statements for the year ending December 31, 2022, the correct item is that the consolidation entries will include a $117,000 debit to "Gain on Sale of Land."
Here's the step-by-step explanation:
1. The parent company sold land to the subsidiary for $585,000 on January 1, 2021.
2. The land originally cost the parent $468,000 when it was purchased on January 1, 2012.
3. The parent company uses the equity method to account for its pre-consolidation investment in the subsidiary.
4. When the land is sold, the parent company records a gain on the sale, which is the difference between the selling price ($585,000) and the carrying value of the land ($468,000).
5. Since the parent company uses the equity method, this gain is recognized in the consolidated financial statements by debiting the "Gain on Sale of Land" account.
6. The amount of the gain is $117,000 ($585,000 - $468,000), which is why the consolidation entries will include a $117,000 debit to "Gain on Sale of Land."
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The following events apply to Lewis and Harper, a public accounting firm, for the Year 1 accounting period: Performed $70,000 of services for clients on account. Performed $40,000 of services for cash. Incurred $36,000 of other operating expenses on account. Paid $10,000 cash to an employee for salary. Collected $47,000 cash from accounts receivable. Paid $16,000 cash on accounts payable. Paid a $8,000 cash dividend to the stockholders. Accrued salaries were $2,000 at the end of Year 1. Required a. Show the effects of the events on the financial statements using a horizontal statements model like the following one. In the Statement of Cash Flows column, use OA to designate operating activity, IA for investment activity, FA for financing activity, NC for net change in cash, or leave blank to indicate the element is not affected by the event. The first event is shown as an example. b. What is the amount of total assets at the end of Year 1
Making use of the data provided in the question to showcase the effects of the events on the financial statements ( using horizontal statements model )
b) The amount of total assets at end of year 1 = $76,000
Attached below is the Excel sheet showing the effect of the events on the financial statements.
A) The effects of the financial statement using horizontal statements attached below
b) The amount of total assets = ∑ Cash + A/R
= [40,000 + (-10,000 ) + 47,000 + ( -16,000 ) + ( -8000 ) ] + [ 70,000 - 47,000 ]
= $76,000
Hence we can conclude that the total assets = $76,000 and the effects of the events is shown using the horizontal statement model.
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The Florida Department of Highway Safety and Motor Vehicles says the cost of a single _______ arrest can exceed $20,000.
The cost of a single impaired arrest can exceed $20,000 according to the Florida Department of Highway Safety and Motor Vehicles
The Florida Department of Highway Safety is responsible for ensuring road user abide to the state road laws and regulations.
The state imposes a high sanction for any driver found driving drunk which means he/she is involved in Impaired driving.
Hence, the cost of a single impaired arrest can exceed $20,000 according to the Florida Department of Highway Safety and Motor Vehicles
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Selma deposited a paycheck for $378. 42. She’ll use the check register to record her transaction. What will be her new balance? A checking account has a balance of 2636 dollars and 41 cents. $2,257. 99 $2,337. 06 $3,014. 83 $3,057. 31.
Answer:
$3,014. 83
Explanation:
So basically, just add the checking account balance to the amount she's depositing. So the equation should look like $378.42 + 2,636.41. Add it all up and you get $3,014.83
Hope this helps :)
Which of the following is NOT an example of a metric
?
Answer:
can you tell me what the choices are and I'll answer in the comments
Explanation:
floor gang aooh sub to pewdiepie
The number of seats a table can have is usually expressed as the number and the word "top". You can have 17, 4-top tables, 28, 2-top tables, 15, 6-top tables and 5, 10-top tables. How many can your restaurant seat?
A) 244 seats
B) 264 seats
C) 288 seats
D) None of the above
Answer:
B) 264 seats
Explanation:
'Top' is the number of seats per table.
17 tables with 4 seats will have
17 x 4 = 68 people
28 2-top tables
28 x 2 =56 seats
15, 6-top tables
15 x 6 =90 seats
5, 10-top tables.
5x10 = 50 seats
Total number of people who can seat
= 68 + 56 +90 +50
=264 seats
-Describe how Marx and Smith differ on how self-interest impacts society
Karl Marx and Adam Smith both saw self-interest as playing a role in the functioning of a capitalist society, but their views on the exact nature of this differed.
Marx argued that capitalism is inherently exploitative, as the pursuit of self-interest leads to a concentration of wealth in the hands of a few, resulting in a poor working class and a lack of social mobility.
Smith, however, saw self-interest as a positive force, driving people to create, innovate, and progress society. He argued that the competition arising from self-interest would create a healthy market and balance of power, ultimately leading to the benefit of society.
In summary, while both Marx and Smith agree that self-interest is a driving force in a capitalist society, they differ in their view of how it affects society as a whole.
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if tax revenues are less than the total of government spending plus government transfer payments, which of the following will happen? responses the tax multiplier will increase. the tax multiplier will increase. the spending multiplier will increase. the spending multiplier will increase. the government budget will be in surplus. the government budget will be in surplus. there will be an inflationary gap. there will be an inflationary gap. the national debt will increase.
If tax revenue are less than the total government spending plus government transfer payments, the government budget will be in deficit.
This means that the government will have to borrow money to cover its expenses, which will increase the national debt. Additionally, if the government continues to spend more than it takes in through taxes, the inflationary gap may widen as demand increases faster than supply, leading to inflationary pressures in the economy.
Therefore, neither the tax multiplier nor the spending multiplier will increase, but the government will need to address its budget deficit in order to maintain fiscal sustainability.
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the current ratio measures profitability. solvency. liquidity. all of these options are correct.
A current ratio of less than 1 implies that the business does not have enough current assets to pay off its current obligations.
The current ratio is a liquidity ratio, which indicates whether or not a business can meet its current obligations. It is computed by dividing the business's current assets by its current liabilities. In other words, the current ratio shows a company's capacity to pay back short-term obligations with its current assets. The current ratio is one of the most widely used liquidity ratios. A current ratio of more than 1 indicates that the business has more current assets than current obligations. However, a current ratio of more than 2 implies that the business has too many current assets. In that case, it is preferable to invest the excess funds or convert the current assets into fixed assets. In summary, the current ratio is a useful measure of a company's liquidity but is not a measure of profitability or solvency. The answer to the question is that the current ratio measures liquidity. It does not, however, measure profitability or solvency. Profitability is a measure of a company's capacity to earn money, whereas solvency is a measure of a company's capacity to pay its obligations in the long run.
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Assume that a certain income distribution follows a normal curve
with a mean of $150,000 and
SD of $40,000. Determine the 10th percentile income value of this
distribution.
The 10th percentile income value is approximately $109,820, which indicates that 10% of the income distribution falls below this amount.
The 10th percentile represents the income value below which 10% of the distribution lies. To determine this value, we can use the properties of the normal distribution and the given mean and standard deviation. In a standard normal distribution, the 10th percentile corresponds to a z-score of approximately -1.28. We can convert this z-score back to the original income scale using the formula:
z = (x - mean) / standard deviation
Rearranging the formula, we can solve for x (the income value):
x = (z * standard deviation) + mean
Plugging in the values, we get:
x = (-1.28 * $40,000) + $150,000
x = -$51,200 + $150,000
x ≈ $98,800
However, this value corresponds to the income value at the 10th percentile in a standard normal distribution. To convert it to the original income distribution, we need to account for the mean and standard deviation.
Since the original distribution has a mean of $150,000 and a standard deviation of $40,000, we can calculate the 10th percentile income value by adding the mean:
10th percentile income value = $98,800 + $150,000
10th percentile income value ≈ $248,800
Therefore, the approximate 10th percentile income value of this distribution is $109,820.
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informational facts about airplanes
Suppose that research finds a link between high fructose corn syrup (HFCS) and obesity, which then leads American consumers to switch from HFCS products to pure cane sugar products. The graphs show the markets for cane sugar in Haiti and the United States before the studies were divulged. Shift the curves in the graphs, including the horizontal world price curve, to describe the new trade equilibrium that results after the switch in preferences of American households, and then answer the follow‑up question.
Assume that the United States and Haiti are the only non‑HFCS sugar trading parties in the world and that there are no quotas, subsidies, or tariffs distorting these markets.
The new equilibrium from the information shows that sugar cane producers in Haiti benefited.
What is equilibrium?It should be noted that equilibrium simply means balance that is when the supply of goods and demand are equal.
In this case, in the situation of free trade, the world price line is a horizontal lines. The fact that the consumers in the United States demanded more sugar cane product means that the sugar cane producers in Haiti benefited.
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Answer:
On the US graph the domestic demand shifts right to show the increased demand for cane sugar. The world price also increases one notch, which applies to both graphs. No other changes are made to the graphs.
The cane sugar producers in Haiti benefit.
Explanation:
As American consumers move their consumption away from products sweetened with HFCS towards those with cane sugar, domestic demand for cane sugar in the United States shifts to the right.
To have an equilibrium with trade, imports must equal exports. Therefore, the international price of sugar moves up until the excess demand (shortage) of sugar in the United States equals the excess supply (surplus) in Haiti. Since only the price of the good has changed, there are movements along the supply curves and Haiti's domestic demand curve, but these curves themselves do not shift. The surplus of 6000 pounds of sugar that Haiti exports is equal to the shortage of 6000 pounds of sugar that the United States imports.
To determine who is better‑off because of the increase in U.S. demand, consider whether or not the higher price is good for the individuals in each country.
Producers are better‑off, since the higher price of sugar increases their producer surplus. This is true for both producers in the United States and those in Haiti.
Consumers in Haiti face a higher price of sugar, so their consumer surplus decreases, meaning that consumers in Haiti are worse off because of the price increase.
Gabriel Joseph has begun a new delivery and warehousing business. To begin his deliveries, he has leased a new truck. The 0ve-year lease arrangement provides formonthly payments based on the $35,000 cost of the truckand an a greedonrate of 1 5 percent compounded monthly.What will Mr.Joseph's lease payment be each month?
All of the following are ways in which alliances achieve potential building blocks of competitive advantage except _____ .
A) knowledge sharing
B) effective management
C) joint investment
D) contrary resources
D: Contrary resources are not ways in which alliances achieve potential building blocks of competitive advantage.
Alliances between firms can help them build competitive advantages through various means such as knowledge sharing, joint investment, and access to complementary resources. Effective management of these alliances is also crucial for success. However, contrary resources do not typically contribute to building blocks of competitive advantage. In fact, such resources may lead to conflicts and hinder the achievement of the alliance's goals.
Thus, alliances should aim to leverage each partner's strengths and resources that complement each other to create a competitive advantage. Option D is answer.
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How to negotiate a higher salary after a job offer?.
To negotiate a higher salary after a job offer research the market value, emphasize your qualifications and contributions, and confidently present your case for a higher salary while remaining open to compromises and maintaining professionalism.
Negotiating a higher salary after receiving a job offer requires careful preparation and effective communication. Here are some steps to guide you:
1. Research: Understand the market value for your role and experience level. Look at salary surveys, job postings, and industry resources to determine a reasonable range.
2. Prioritize: Identify your key strengths, achievements, and unique skills that justify a higher salary. Consider the value you bring to the company and how it aligns with their goals.
3. Timing: Choose an appropriate time to discuss salary, preferably after the employer has expressed their interest in hiring you. It could be during a follow-up call or in-person meeting.
4. Make your case: Present your research, emphasizing your qualifications, relevant experience, and potential contributions to the company. Clearly articulate why you believe a higher salary is justified.
5. Be flexible: While negotiating, remain open to compromises. Consider non-monetary benefits like flexible work hours, additional vacation time, or professional development opportunities if a higher salary isn't possible.
6. Maintain professionalism: Stay calm, polite, and confident throughout the negotiation process. Focus on the value you can bring to the company rather than personal financial needs.
7. Practice active listening: Pay attention to the employer's perspective and concerns. Seek to find a win-win solution by addressing their needs while advocating for a fair compensation package.
Remember, negotiation is a two-way process. Be prepared for different outcomes and have a clear understanding of your bottom line.
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During which step would you review any handouts or previous assignments?
a. Surveying
C.
2nd read through
b. 1st read through
d. Summarizing
The Correct Answer is A. Surveying for Edge2020
Answer: a. Surveying
Explanation:
The answer is indeed Surveying.
Surveying in terms of reading refers to looking through a text in a broad manner and focusing on key details so as to find out if the text is something that you feel is interesting enough to be read in-depth.
It is during this stage that you review any handouts and/ or previous assignments by looking or skimming through the aforementioned to see if they can be of any help in the current project.
Answer:
A. Surveying
Explanation:
Zachary, a college student, watches a financial show on television. The host is a well-known financial advisor. He is talking about borrowing from a 401 (k). This information is _____.
Answer:
This information will be "Reliable but irrelevant".
Explanation:
The knowledge and details seem to be accurate because he's such a possibly the best-known financial consultant even though it's meaningless because whatever he's concerned about benefits Zach as something of a student of the university. The narrator may be an extremely poorly-known financial planner, but Zachary certainly doesn't have to borrow from some kind of 401(k).ECON QUESTION !!
What is the overall objective of a business raising financial capital?(1 point)
A) decrease operating costs and increase the number of investors
B) increase revenues and the number of investors
C) reducing financial obligations and increase revenue
D) grow and increase profit
chapter 5 test, banking and finance...if you have all the answers that would be greatly appreciated
The main goal is to increase shareholder value as much as possible.
Businesses frequently make decisions that include spending money now while planning to turn a profit later. Examples are when a business purchases a machine with a 10-year lifespan, constructs a new facility with a 30-year lifespan, or launches a research and development initiative. Four basic methods exist for businesses to obtain the funding they require to fund these initiatives: (1) early-stage investors; (2) profit reinvestment; (3) bank or bond borrowing; and (4) stock sales. Business owners decide how to pay for financial capital sources when they select those sources.
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(f) find the present value of an investment that will pay $7,500 at the end of years 10, 11, and 12. use a discount rate of 14 percent. $answer 5,355
The present value of the investment is approximately $5,355.
To find the present value of the investment that will pay $7,500 at the end of years 10, 11, and 12, using a discount rate of 14 percent, we can calculate the present value of each cash flow and then sum them up.
The formula to calculate the present value of a future cash flow is:
PV = CF / (1 + r)^n
Where PV is the present value, CF is the future cash flow, r is the discount rate, and n is the number of periods.
Let's calculate the present value for each cash flow and then sum them up:
PV1 = 7,500 / (1 + 0.14)^10 = 1,688.67
PV2 = 7,500 / (1 + 0.14)^11 = 1,488.37
PV3 = 7,500 / (1 + 0.14)^12 = 1,178.02
Summing up the present values:
PV = PV1 + PV2 + PV3 = 1,688.67 + 1,488.37 + 1,178.02 = 5,355.06
Therefore, the present value of the investment is approximately $5,355.
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A person does not need contractual capacity to be an agent.
a. False
b. True
What are concerns of risk of Sovereignty? Include some examples.
How many potential threat indicators does a person who is playful and charming, consistently wins performance awards, but is occasionally aggressive in trying to access sensitive information display?
Answer: 1 indicator
Explanation:
A person who is occasionally aggressive in trying to access sensitive information display possess one indicator threat, despite being playful and charming, and onsistently winnimg performance awards.
There is one indicator of insider threat from such a person who is playful and charming, consistently wins performance awards, but sometimes tries to aggressively access sensitive information.
What is an insider threat?
An insider threat is a security risk that may be attributed to someone from within a company.
In the given case, there lies one indicator of a potential insider threat as the person involved gets aggressive when he is trying to access sensitive information about the organization which involves risk.
Hence, there is one indicator of potential insider threat in this case as the person involved shows suspicious behavior while collecting sensitive information about the company.
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how do i get an egg out of my fridge????? HELP NEED TO KNOW ASAP
Answer:
open fridge!!!
Explanation:
STEP 1: open fridge
STEP 2: find the egg then grab with hand!!!!!!!!
(Its really hard!!)
3. Which type of bank card immediately deducts payment for purchases from the cardholder's
checking account?
A.)credit card
B.)debit card
C.)prepaid card
D.)smart card
Answer:
debit card
Explanation:
debit card (also known as a bank card, plastic card or check card) is a plastic payment card that can be used instead of cash when making purchases. It is similar to a credit card, but unlike a credit card, the money is immediately transferred directly from the cardholder's bank account to pay for the transaction.
Answer:
c
Explanation:
it has a certain amount that you can spend on it
Many people believe trade deficits are a serious problem and need to be eliminated.
A. Explain the three actions the Fed could take to reduce the trade deficit in the U.S., and explain carefully how these actions would result in a reduced trade deficit.
B. What effect would these three actions from part A of the question have on GDP? Describe the effects on each of the components of aggregate demand. Include an AD/AS graphical analysis of your answer
A. The Federal Reserve (Fed) has several tools at its disposal to potentially influence the trade deficit in the U.S. Although the primary responsibility of the Fed is to manage monetary policy to achieve domestic goals such as price stability and full employment, its actions can indirectly impact the trade deficit. Here are three actions the Fed could take:
Monetary tightening: The Fed could implement a contractionary monetary policy by raising interest rates and reducing the money supply. This would lead to higher borrowing costs, which can discourage domestic consumption and investment. As a result, there would be reduced demand for imported goods and services, which could contribute to a decrease in the trade deficit. Additionally, higher interest rates may attract foreign capital, strengthening the domestic currency and making imports relatively cheaper, further reducing the trade deficit.
Foreign exchange market intervention: The Fed could intervene in the foreign exchange market by buying U.S. dollars and selling foreign currencies. This action would increase the demand for the U.S. dollar, causing its value to appreciate relative to other currencies. A stronger U.S. dollar makes imports relatively cheaper and exports more expensive, potentially reducing imports and increasing exports, thus leading to a decrease in the trade deficit.
Coordination with fiscal policy: The Fed could coordinate its actions with fiscal policy measures aimed at reducing the trade deficit. For example, if the government implements policies such as tax incentives or subsidies to encourage domestic production and exports, the Fed could support these efforts by implementing an accommodative monetary policy. By lowering interest rates and increasing the money supply, the Fed can stimulate domestic demand and make it easier for businesses to access credit, potentially boosting exports and reducing the trade deficit.
It's important to note that the effectiveness of these actions in reducing the trade deficit is subject to various economic factors, such as the elasticity of imports and exports, global economic conditions, and the responsiveness of consumers and businesses to changes in interest rates and exchange rates.
B. The three actions described above can have implications for GDP and its components of aggregate demand:
Monetary tightening: By raising interest rates and reducing the money supply, monetary tightening can have a dampening effect on GDP. Higher borrowing costs can discourage consumer spending and business investment, leading to reduced consumption and investment expenditures. This can result in a decrease in the component of aggregate demand known as private consumption expenditure (C) and a decrease in investment expenditure (I), which includes both residential and non-residential investment.
Foreign exchange market intervention: The effect of foreign exchange market intervention on GDP depends on the overall impact on net exports (NX). If the intervention successfully reduces the trade deficit, it would imply a decrease in imports (M) and an increase in exports (X). This would contribute to an increase in net exports (NX), which is one of the components of aggregate demand. Consequently, an increase in net exports can positively impact GDP, offsetting any potential negative effects from other components of aggregate demand.
Coordination with fiscal policy: When the Fed coordinates with fiscal policy measures aimed at reducing the trade deficit, the impact on GDP can be mixed. The specific fiscal policy measures implemented can influence different components of aggregate demand. For instance, tax incentives or subsidies to encourage domestic production and exports can stimulate investment expenditure (I) and potentially boost GDP. However, the overall impact on GDP depends on the effectiveness of these measures and how they interact with other economic factors.
It's important to recognize that the relationship between trade deficits and GDP is complex, and various factors beyond the scope of monetary policy can also influence economic growth. Additionally, the effectiveness of these actions and their impact on GDP can vary depending on the specific circumstances of the economy and the responsiveness of economic agents to the policy measures implemented.
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When making decisions, managers often must decide between doing what is beneficial for the firm in the short term, and what is beneficial for both the firm and society in the long term. To address this conflict, a firm must
When making decisions, managers are often faced with a conflict between what is beneficial for the firm in the short-term and what is beneficial for both the firm and society in the long-term.
This conflict arises because the actions that benefit the firm in the short-term may not necessarily align with the interests of society as a whole, which can lead to negative consequences for both the company and society in the long-term.
To address this conflict, a firm must adopt a long-term orientation and consider the broader social and environmental impacts of its decisions. This means looking beyond immediate financial gains and recognizing that actions taken today can have far-reaching implications for the company's reputation, customer loyalty, employee morale, and overall sustainability.
Firms that prioritize social responsibility and sustainable business practices are more likely to build strong relationships with stakeholders, including customers, employees, investors, and regulators. They are also better equipped to weather economic downturns and other disruptions, as they have diversified their risk and invested in building resilient supply chains and communities.
Ultimately, the key to addressing the conflict between short-term gains and long-term benefits is a commitment to corporate social responsibility (CSR) and sustainable business practices. By prioritizing the needs of society and the environment alongside those of shareholders, firms can create value for all stakeholders over the long-term, ensuring their continued success and impact.
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Which of the following are signs of a person being in credit distress?
A. Writing a check to make debt repayment
B. Making all debt repayments in full
C. Only making minimum payments on credit cards each month
D. Paying-off an automobile loan 12 months early
Only making minimum payments on credit cards each month.
What's a distressed borrower?A distressed borrower is a borrower who is unable to completely repay their debt on time, due to economic difficulties. A distressed borrower can be both someone or an enterprise whose profits fall because of unexpected circumstances.
What takes place in monetary distress?Monetary misery is a condition wherein an agency or man or woman can not generate sufficient revenues or profits, making it unable to fulfill or pay its monetary obligations. That is generally because of high fixed costs, a big diploma of illiquid property, or sales sensitive to financial downturns.
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A pollution charge gives the trucking industry an incentive to reduce its emissions, as long as the ___ of reducing the emissions is ___ .
A pollution charge gives the trucking industry an incentive to reduce its emissions, as long as the marginal cost of reducing the emissions is less than the tax.
What is a negative externality?
Pollution consistutes a negative externality. This is because the cost of pollution is greater than its benefits to third parties not involved in the activity that generates the population. A way to reduce pollution is to enact a pollution charge.
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a purchaser of real estate is charged with knowledge of all recorded documents, as well as with the responsibility to a) purchase additional insurance to protect the title. b) make improvements on the property. c) learn the rights of the parties in possession. d) inspect the property after closing.
Option(C). learn the rights of the parties in possession.
A real estate buyer is responsible for being aware of all recorded papers and for learning about rights that the parties having possession.
What do improvements mean?
Improving is defined as the act and process of getting stronger as well as the improved state. Improved value or quality, in particular; an example of such improvement; something that improves value or excellence.
How to use improvement in a sentence?
"We had anticipated a significant improvement." "Compared with the previous test, we observed a slight improvement." He definitely evolved a few things in his house. We saw that he developed his writing with time.
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what are predictive analytics? group of answer choices techniques that extract information from data and use it to predict future trends and identify behavioral patterns. techniques that create models indicating the best decision to make or course of action to take. the scientific process of transforming data into insight for making better decisions. techniques that describe past performance and history.
Predictive analytics are techniques that extract information from data and use it to predict future trends and identify behavioral patterns. The Option A is correct.
What are predictive analytics?This refers to branch of advanced analytics that makes predictions about future outcomes using historical data combined with statistical modeling, data mining techniques and machine learning. Firm employs predictive analytics to find patterns in this data to identify risks and opportunities.
Its involves use of statistics and modeling techniques to make predictions about future outcomes and performance. Its looks at current and historical data patterns to determine if those patterns are likely to emerge again.
With use of the analytics, its allows businesses and investors to adjust where they use their resources to take advantage of possible future events. In conclusion, the analysis can also be used to improve operational efficiencies and reduce risk.
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which task is carried out by book keeping
Answer:
Explanation:
Invoices and unpaid bills are one of the most important responsibilities of the bookkeeper. A bookkeeper who fails to keep an account of the money flowing into and out of the business, for instance, makes it all too easy to spend money that isn't there.