Accounting

Replies / Views	Last post
Accounts whose balances apply to one fiscal period only are called permanent accounts. Indicate ... Started by Garrulous	3 Replies 79 Views	Jul 6, 2018 by dantucker
Merchandise Inventory is a nominal account. Indicate whether the statement is true or ... Started by Alygatorr01285	1 Replies 33 Views	Jul 6, 2018 by ally
In the closing process, the Sales Returns and Allowances account is credited. Indicate whether the ... Started by lidoalex	1 Replies 44 Views	Jul 6, 2018 by verrinzo
After the temporary accounts are closed, only the nominal accounts have balances. Indicate whether ... Started by haleyc112	1 Replies 82 Views	Jul 6, 2018 by shoemake
Reversing entries are optional. Indicate whether the statement is true or ... Started by tnt_battle	1 Replies 97 Views	Jul 6, 2018 by TDubDCFL
The adjusting entry for supplies on hand is always reversed. Indicate whether the statement is ... Started by segrsyd	1 Replies 69 Views	Jul 6, 2018 by hollysheppard095
A reversing entry must be made for each adjusting entry. Indicate whether the statement is true or ... Started by Metfan725	1 Replies 96 Views	Jul 6, 2018 by reelove4eva
Immediately after a reversing entry to reverse the entry for accrued salaries has been posted, ... Started by KimWrice	1 Replies 166 Views	Jul 6, 2018 by duy1981999
Reversing entries are journalized and posted before adjusting and closing entries are journalized ... Started by vicotolentino	3 Replies 142 Views	Jul 6, 2018 by maya.nigrin17@yahoo.com
A corporation is a business that is legally separate and distinct from its owners. a. True b. ... Started by azncindy619	1 Replies 60 Views	Jul 6, 2018 by mochi09
The role of accounting is to provide many different users with financial information to make ... Started by danielfitts88	1 Replies 89 Views	Jul 6, 2018 by LVPMS
Accounting information users need reports about the economic activities and condition of businesses. ... Started by dejastew	1 Replies 48 Views	Jul 6, 2018 by Juro
Managerial accounting information is used by external and internal users equally. a. True b. False ... Started by Cooldude101	1 Replies 72 Views	Jul 6, 2018 by dyrone
Senior executives cannot be criminally prosecuted for the wrong doings they commit on behalf of the ... Started by cmoore54	1 Replies 63 Views	Jul 6, 2018 by succesfull
Financial accounting provides information to all users, while the main focus for managerial ... Started by elizabeth18	1 Replies 58 Views	Jul 6, 2018 by fromAlphatoOmega22
Proper ethical conduct implies that you only consider what's in your best interest. a. True b. ... Started by Evvie72	1 Replies 32 Views	Jul 6, 2018 by sabina576
Some of the major fraudulent acts by senior executives started as what they considered to be small ... Started by Capo	3 Replies 105 Views	Jul 6, 2018 by Chelseyj.hasty
A business is an organization in which basic resources or inputs, like materials and labor, are ... Started by justinmsk	1 Replies 109 Views	Jul 6, 2018 by johnharpe
Two factors that typically lead to ethical violations are relevance and timeliness of accounting ... Started by jho37	1 Replies 38 Views	Jul 6, 2018 by yahahah24021
The government-wide statement of net position would report the following component of net ... Started by ap345	1 Replies 34 Views	Jul 6, 2018 by mcarey591
Which of the following should be reported in the statement of revenues, expenditures, and changes in ... Started by olgavictoria	1 Replies 26 Views	Jul 6, 2018 by abctaiwan
Pass-through grants are accounted for A. Only in Agency Funds. B. By increasing or decreasing ... Started by Jipu 123	1 Replies 36 Views	Jul 6, 2018 by bitingbit
Which of the statements regarding the accounting for encumbrances is false? a. The budgetary ... Started by awywial	1 Replies 28 Views	Jul 6, 2018 by Chocorrol77
About 90 of the businesses in the United States are organized as corporations. a. True b. False ... Started by crazycityslicker	1 Replies 80 Views	Jul 6, 2018 by mjenn52
Direct costs are traced the same way for actual costing and normal costing. Indicate whether this ... Started by acc299	3 Replies 80 Views	Jul 6, 2018 by vish98