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1)What is the benefit of diversity? 2)For the following transaction, determine whether the account in the parenthesis is to be debited or credited
1)What is the benefit of diversity?
2)For the following transaction, determine whether the account in the parenthesis is to be debited or credited.
Sold merchandise (Merchandise inventory): 1000
Expert Solution
1)The benefits of diversity are many. The particular benefits of diversity are dependent on the context. For example, diversity in the classroom is beneficial as it highlights multiple perspectives and ways of understanding things, thereby helping students to broaden their perspectives. Diversity in the workforce is beneficial as it can help with problem-solving—i.e. the more perspectives and methods of working there are, the more likely it is that problems can be solved quickly and efficiently. In sum, the benefit of diversity is consistently underscored by the benefit of multiple perspectives: increased creativity, increased understanding, increased problem-solving ability, and more.
2)The correct answer is credited.
If there is a sale of merchandise, the company would deliver this merchandise to its customers, so it will decrease inventory.
Merchandise inventory is an asset account, which has a debit normal balance, so to decrease is to credit that account.
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