On a Job Bid Sheet,four Items Are Added Together to Arrive

question 38

Essay

On a job bid sheet,four items are added together to arrive at a bid price.List each of these items and explain why each is necessary to arrive at the bid price.

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Definitions:

Financial Statement

An officially maintained account of the economic engagements and financial circumstances of a company, an individual, or a variant entity.

T Accounts

A visual representation used in accounting to depict debits and credits for a particular account, where one side represents debit entries and the other side represents credit entries.

Transactions

Financial events that affect the financial position of a company, involving the transfer of value between two or more entities.

Financial Statement

A document detailing a company's financial status and business operations, encompassing income statements and balance sheets.