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QUESTION 2 With an asset account: Debits would Increase and Credit would Decrease Debits would Decrease...

QUESTION 2

  1. With an asset account:

Debits would Increase and Credit would Decrease

Debits would Decrease and Credit would Decrease

Debits would Increase and Credit would Increase  

Debits would Decrease and Credit would Increase  

QUESTION 5

  1. How are NAICS codes useful to supply chain management?

Guarantees company success

Search for employees

Search for competitors and suppliers

NAICS codes are an accounting thing and not very useful to supply chain managers
Business   Finance   
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Homework Answers

Answer #1

1. Option (a) is correct

With an asset account Debits would increase and Credit would decrease. The reason is assets are real accounts and real accounts increase when they are debited.

2. Option (c) is correct

NAICS codes are useful to supply chain management as they help in searching for competitors and suppliers. The structure of codes is designed in such a way that it will help in classifying the business organizations into sectors, sub secotrs, industry groups, industries and national industry.

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