The latest global financial crisis of 2007-2008 years was merely forecasted or expected. Furthermore, no one could predict that it will actually start from the collapse of the real estate and later financial markets of the United States. By that time, globalization processes have occupied not only trade and service industry, but also labor, financial and banking segments. In the modern world, globalization is inevitable, due to fast spread of the information, constant movements of the human resources, development of the international companies, emergence of new economic and trade unions, etc. Definitely, globalization opens new horizons and helps to ...
Essays on Crediting
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When the gift card is resolved the company receives revenue which is yet to be earned since the customer paid money but did not take any merchandise. As a result, the transaction creates a liability for the company in the form of gift cards outstanding. The transactions that will accompany the sale of the gift card are, therefore, the debit of the asset account Cash, in recognition of the cash received by Imel West and the crediting of a liability account Gift Card Outstanding in recognition of the liability created (Nikolai, Bazley, and Jones). This is a liability that ...
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