If the market contracts, due to internal or external factors, then the demand for the goods and services that the firm sells will fall and thus, a propitious niche will disappear. and, if the market expands, and the company fails to meet the increased demand, then also the propitious niche will vanish.
On June 1, Barlow Inc. performed services and billed its client, Bertram Enterprises $1,500. On June 9, Bertram paid the account in full. The combined effect of these two transactions on Bertram’s tabular analysis is:
The effect of these two transactions is that, Bertram liability towards the payment of the amount of bill will decrease on June 9.
What is bill?A bill is defined as an instrument that is given to another person as a proof of purchase, and it also denotes that how much the amount would be paid by one person to another.
On June 1, Barlow Inc. completed work for Bertram Enterprises and billed them $1,500. Bertram paid the account in full on June 9th.
Bertram's tabular analysis is affected by the combined effect of these two transactions, are shown in the image below.
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A chart of accounts lists the accounts and balances at a specific time.
True
False
A chart of accounts lists the accounts and balances at a specific time is the true statement, as it a digestible breakdown of all transactions.
What is a chart of accounts?chart of accounts is a list of all the accounting records in a company's general ledger. In a nutshell, it's an organizational tool that breaks down all of a company's financial transactions into subcategories and presents them in an easily understandable format.
Thus, it is a true statement.
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