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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.
Ask 1. What is the organization that is responsible for setting International Financial Reporting Standards? 2. What is the main company that Professor Levine uses for illustratio
The 2001 Recession: It is November 2001 and the U.S. Stock market has plummeted and the recent September 11th attacks have hurt consumer condence. Businesses have stop hiring and c
80 - 20 rule - A common rule of thumb in business which says that 20% of the items produce80% of the action -- 20% of product line produces 80% of the sales, 20 percent of thecusto
Q. What is journal? In explaining the rules of credit and debit we recorded transactions directly in the accounts. Every ledger (general ledger) account shows only the increase
Consumers and others: Consumers' organizations, welfare organizations, media and public at huge are also interested in condensed accounting information so as to appraise the effic
In Excel, I need help with formulas
Q. What is Cost-benefit? Cost-benefit The cost-benefit consideration engrosses deciding whether the benefits of including optional information in financial statements exceed th
Q. Explain about accounting applications? Early on accounting applications were in accounts receivable, payroll, accounts payable, and inventory. Within some years programs exi
where dose inventory changes aper on the balance sheet
Examine the present system and recoginize specific weaknesses that must be addressed by a new improved system. As part of your analysis, prepare data flow diagrams (context, log
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