Quiz 5: Accountingsystems

Business

a. The half price offer is an ethical business practice, when it is offered to attract the customers to join and avail the services. In business, at so many occasions, companies offer discounts and schemes to boost their sales. Hence there is nothing unethical in half price offer. b. The lock in unethical if it is without the knowledge of the customers. If the company enters into an agreement in the beginning for a loc in period at particular rates / price, it will be ethical. But if the company give half price offer, to attract the customers, then force them to use the services and do not allow them to move the business data, it will be unethical. The customer will feel cheated, if they cannot move the data to other accounting application.

Separate accounts receivable ledgers allow a company to easily identify the balance of each customer's account. If all the outstanding balances were lumped together it would make it more difficult to track who owes what to the company.

Explanation about transactions recorded in Revenue journal:- 1. Posting Ref. (a), to be posted in subsidiary ledger account i.e., Accounts receivable subsidiary ledger Name: Hazmat Safety Co. 2. Posting Ref. (b), to be posted in subsidiary ledger account i.e., Accounts receivable subsidiary ledger Name: Masco Co. 3. Posting Ref. (c), to be posted in subsidiary ledger account i.e., Accounts receivable subsidiary ledger Name: Eco-systems. 4. Posting Ref. (d), to be posted in subsidiary ledger account i.e., Accounts receivable subsidiary ledger Name: Sunrise Enterprises. 5. Posting Ref. (e), to be posted in General ledger account, it represents balance and total of revenue journal

There is no answer for this question

There is no answer for this question

There is no answer for this question

There is no answer for this question

There is no answer for this question

There is no answer for this question

There is no answer for this question

There is no answer for this question

There is no answer for this question

There is no answer for this question

There is no answer for this question