Blessing Peter Titus, Author at Financial Falconet

Free Enterprise Characteristics

The free enterprise characteristics are the features that distinguish this particular economic system from other economic systems such as communism,

Free Enterprise Examples of Countries

Any market that is driven by the forces of demand and supply with little or no government interference is one

What is a Free Enterprise System? Effects and How it works?

The kind of economic system that a country operates determines how the country’s economic activities function. The free enterprise system

What are Zombie Corporations? Definition and Effects

Zombie corporations are corporations that are deeply in debt but generate just enough income to continue operation or need regular

Examples of Journal Entries in Accounting

Businesses carry out various transactions every single day and have to keep track of each transaction. To do this, they

Is prepaid insurance an asset?

Is prepaid insurance an asset? Due to the various risks associated with owning valuable items such as buildings, vehicles, machinery,

Credit Sales Journal Entry Examples

The credit sales journal entry is an entry in a company’s sales journal which is used to record the sale

Examples of Cash Sales Journal Entries

Companies generally operate to meet a need and make a profit in the process. In order for either of these

Consolidated Statement of Financial Position

A consolidated statement of financial position balance sheet presents the combined balance sheet of a holding or parent company and

Utilities payable debit or credit?

Is utilities payable debit or credit? Utilities payable is a current liability account that records the amount a company owes

Is accumulated depreciation a current asset?

Is accumulated depreciation a current asset? Accumulated depreciation is a record of all the depreciation expense of an asset since

Is accumulated depreciation a fixed asset?

Is accumulated depreciation a fixed asset? When companies purchase assets, they try to estimate how long they will be able

Is capital stock a debit or credit?

Is capital stock a debit or credit? Capital stock refers to the maximum number of shares that could be issued

Is Land Debit or Credit?

Is land debit or credit? One of the assets that companies consider very valuable is land, this is because it

What type of account is retained earnings?

What type of account is retained earnings? Retained earnings (RE) are reported on the balance sheet of companies while the

Is accounts payable a current liability?

Is accounts payable a current liability? Accounts payable is a major concern for every company that has had reason to

Decrease in accounts payable debit or credit?

Is a decrease in accounts payable debit or credit? Debits and credits are the bases upon which the double-entry bookkeeping

Is Accounts Payable an Asset or Liability?

Is accounts payable an asset or liability? When companies make purchases, they either pay in cash immediately or receive the

Is Purchase Debit or Credit?

Is purchase debit or credit? Purchase is an expense that is included on the income statement within the cost of

Rent expense debit or credit?

Although recent advancements in technology have led to a lot of businesses adopting remote work options, most businesses still have

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Author: Blessing Peter Titus