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How are liabilities affected by debits and credits in accounting?
In accounting, liabilities are affected by debits and credits based on the type of transaction. When a liability increases, it is recorded as a credit, and when a liability decreases, it is recorded as a debit. This helps maintain the balance in the accounting equation.
What happens when you default on a car loan?
When a consumer defaults on a car loan their credit becomes negatively affected. Not only that, the previously purchased vehicle will become subject to repossession if the payment is not received.
Is your property in Michigan exempt if you do not pay your mortgage in Florida?
Your property in Michigan would not be affected by your mortgage in Florida.Your property in Michigan would not be affected by your mortgage in Florida.Your property in Michigan would not be affected by your mortgage in Florida.Your property in Michigan would not be affected by your mortgage in Florida.
When purchases are made on credit what three accounts are affected on a balance sheet?
Assets are affected such as supplies are increased on debit side. Accounts payable is affected by being credited or increased. Owners equity is also affected by being credited or lowered on the balance sheet.
Have you heard about the Harris scam and how it affected individuals?
Yes, I am aware of the Harris scam, which involved fraudulent activities that affected many individuals financially.
How are liabilities affected by debits and credits in accounting?
In accounting, liabilities are affected by debits and credits based on the type of transaction. When a liability increases, it is recorded as a credit, and when a liability decreases, it is recorded as a debit. This helps maintain the balance in the accounting equation.
Are career opportunities in accounting plentiful?
Accounting jobs have been affected by the recession like everything else. However, opportunities are still better in accounting than in other fields, like the arts.
How can an audit trail be affected by the clients computerisation of the accounting system?
by corupionn of dara entry
What is the best definition of notification?
an acceptable method of communicating to affected persons when (date, time of shutdown) the machinery and equipment is to be locked out and tagged out and again when the machinery and equipment is to be returned to service.
How quarterly income statements are affected by the behaviour of costs in repairs and maintenance?
Discuss the ways in which quarterly income can be affected by the behavior of the cost recorded in a repairs and maintenance of factory machinery account
Take Business Accounting To Prepare for A Human Resources Degree?
By taking courses in business accounting, you will be able to understand the different staffing requirements for most business structures. Every business department is affected by accounting. An appreciation of accounting procedures will help you understand the importance of the various levels of business staffing.
Can a business enter into a transaction in which only the left side of the basic accounting equation is affected?
yes ,business can enter into a transaction in which only the left side of the basic equation is affected
Can a business enter into a transaction in which only the left side of a basic accounting equation is affected?
yes ,business can enter into a transaction in which only the left side of the basic equation is affected
In management accounting what are relevant costs?
Relevant cost is that cost which will be affected due to the decision company going to make.
What is the proper five step USAF return to service sequence for lockout tagout?
1. Check the Area: Check the work area to ensure that all personnel are clear of the machinery and equipment.2. Check the Machine: Check the machinery and equipment to ensure that everything is properly assembled, all nonessential items are removed, and the machinery and equipment is ready for safe operation.3. Verify: Verify that switches and controls on the machinery and equipment are in the OFF position, are properly aligned, or are in the neutral position.4. Notify: Notify the affected worker(s) of the return-to-service procedure. If there is a question about who the affected workers are, the authorized worker shall notify the machinery and equipment owner/operator.5. Return: After the affected persons have been notified,- notify the machinery and equipment owner/operator of intent to re-energize;- obtain authorization to re-energize from the machinery and equipment owner, if required;- remove the lock and tag from the energy-isolating device;- re-energize and test the machinery and equipment or coordinate testing with the machinery and equipment owner/operator to ensure that the machinery and equipment can be operated safely (if independent verification is required, that task would be completed at this point in the process); and- return the machinery and equipment to "ready for duty" status.
What accounts are affected and how when merchandise is purchased for cash?
no accounts, the only time an account would be affected is when you withdraw or deposit money into/from it, cash is nearly untraceable and does not affect your bank accounts
What is the best description of performing Step 1 Notify in the Lockouttagout procedure?
if the work is covered by a work package, notify the machinery and equipment owner/operator and complete the lockout/tagout work package record (Attachment C). This determines responsibility for the notification of affected worker(s). If there is a question about who the affected workers are, the authorized worker shall notify the machinery and equipment owner/operator. In all other cases, the authorized worker must notify affected employees
