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1. An accountant records a transaction when cash is paid or received under which basis of accounting? cash deferred accrual liability 2. When unearned revenue is initially recorded as a revenue, the adjusting entry would include a credit to a liability. debit to a liability. debit to an asset. credit to revenue. 3. A principle used to record revenue when it is earned is the matching principle revenue principle timing principle current principle 4. The balance in prepaid rent after adjustment represents a liability on the balance sheet. an expense on the income statement revenue on the income statement an asset on the balance sheet.
nWhat is the implication of applying accounting concepts wrongly.imum 100 words accepted#
Management accountants may or mayn't be CPAs. If a management accountant passes an examination prepared and graded by the Institute of Certified Management Accountants (ICMA) and m
The information contained in published financial statements is of specific importance to external users, as shareholders and investors. Without any information they would not be ca
A business may perhaps engage in thousands of transactions during a year. An accountant summarizes and classifies the data in these transactions to create useful information.
Accountants frequently cite the going-concern assumption to justify using historical costs rather than market values in measuring assets. Market values are of less implication to a
format of the account
Wendell Corporation exchanged an old truck and $25,500 cash for a new truck. The old truck had a book value of $6,000 (original cost of $25,000 less $19,000 in accumulated depre
Breakeven Analysis - I really need help calculating this. Our company's breakeven point occurs after the agency consecutively yields two months of positive net income. This a
what is the BRS
Q. What is Passage of title in transpotation? Passage of title is a term that point to the transfer of the legal ownership of goods. Title to the goods usually passes from sell
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