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if a piece of research comes from a credible source, should you automatically trust it? why or why not?
I would trust it, because it did come from a credible source after all. The chances of it being inaccurate would be considerably lower than that from a incredible source.
Expert answered|lena.G|Points 251|
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Asked 8/14/2013 4:57:11 PM
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ods for accounting for uncollectible accounts, which is most straightforward to implement? User: Of the methods for accounting for uncollectible accounts; Allowance method, percentage of sales method, percentage of receivables method and direct write-off method, which is the most straightforward to implement and why?
Weegy: Of the methods for accounting for uncollectible accounts; Allowance method, percentage of sales method, percentage of receivables method and direct write-off method, [ which is the most straightforward to implement and why Receivables arise from a variety of claims against customers and others, and are generally classified as current or noncurrent based on expectations about the amount of time it will take to collect them. The majority of receivables are classified as trade receivables, which arise from the sale of products or services to customers. Such trade receivables are carried in the Accounts Receivable account. Nontrade receivables arise from other transactions like advances to employees and utility company deposits. CREDIT SALES Purchases of inventory and supplies will often be made on account. Likewise, sales to customers may directly (by the vendor offering credit) or indirectly (through a bank or credit card company) entail the extension of credit. While the availability of credit facilitates many business transactions, it is also costly. Credit providers must conduct investigations of credit worthiness and monitor collection activities. In addition, the creditor must forego alternative uses of money while credit is extended. Occasionally, a borrower may refuse or is unable to pay. Depending on the nature of the credit relationship, some credit costs may be offset by interest charges. And, merchants frequently note that the availability of credit entices customers to make a purchase decision. CREDIT CARDS Banks and financial services companies have developed credit cards that are widely accepted by many merchants, and eliminate the necessity of those merchants maintaining separate credit departments. Popular examples include MasterCard, Visa, and American Express. These credit card companies earn money off of these cards by charging merchant fees (usually a formula-based percentage of sales) and assess interest and other charges ... (More)
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Asked 8/7/2013 9:48:53 AM
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what are the disadvantages of using the percentage of sales method in accounting?
Weegy: The percentage of sales forecasting method is a type of forecasting that assumes most balance sheets and income statement accounts fluctuate with sales. [ This is a method of forecasting that makes many assumptions about the future and uses many variables. Predicting the future on past performances has many inherent risks. For this reason, there are limitations associated with the percentage of sales forecasting method. .............. ] (More)
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Asked 8/7/2013 11:12:00 AM
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How would you explain depreciation to a non-accounting person?
Weegy: If I was to ask four people what depreciation was, I'd probably get four different answers: 1.The amount of wear and tear on assets, 2.An allowance to help replace assets, 3.An accountant's device to reduce tax, [ or 4.A way of allowing for inflation. All four would be wrong. Accountants are not known for explaining things well - which may account for the above misconceptions - but I'll try to explain it so that: 1.You will understand something more about your accounts, 2.You can impress your bank manager and others with your accounting knowledge, 3.You will understand why depreciation is in your accounts and budgets but not in cash flow statements, 4.You can understand and prepare budgets better, and 5.You will be able to understand the accounts of - and make better decisions about - businesses you might consider buying or investing in. Article Source: ] User: How would you explain how depreciation is implemented? Weegy: Depreciation is simply the calculation of wear and tear on assets and is reported annually on your financial statements and utilized as a business expense when submitting tax returns. [ form of depreciation calculation and refers to reduction of the value as per a constant rate. ] (More)
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Asked 8/16/2013 6:16:03 PM
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