This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Account type and normal balance of the Purchases Account: a. Asset, DR b. Asset, CR c. Expense, ... (Read 140 times)

piesebel

  • Hero Member
  • *****
  • Posts: 565
on: Jul 6, 2018
Account type and normal balance of the Purchases Account:
 a. Asset, DR
   b. Asset, CR
   c. Expense, DR
   d. Expense, CR

Question 2

Under the modified accrual basis, revenues are considered available to finance current period expenditures if
 
  a. legally available to finance current period expenditures.
  b. collected during the current period.
  c. collected in the current period or soon enough thereafter to be used to pay liabilities of the current period.
  d. both items a and b.
  e. Both items a and c


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Jmfn03

  • Sr. Member
  • ****
  • Posts: 323
Reply #1 on: Jul 6, 2018
Answer to Question 1

c

Answer to Question 2

E


piesebel

  • Hero Member
  • *****
  • Posts: 565
Reply #2 on: Jul 6, 2018
Correct answers!


Jmfn03

  • Sr. Member
  • ****
  • Posts: 323
Reply #3 on: Jul 6, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

The most common childhood diseases include croup, chickenpox, ear infections, flu, pneumonia, ringworm, respiratory syncytial virus, scabies, head lice, and asthma.

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

Did you know?

More than 150,000 Americans killed by cardiovascular disease are younger than the age of 65 years.

Blood vessels: (A) normal artery, (B) constriction, and (C) arteriosclerosis and atherosclerosis. Blood vessels: (A) normal artery, (B) constriction, and (C) arteriosclerosis and atherosclerosis.
Normal breath sounds Normal breath sounds
Normal oxygen sensor frequency is from about one to five times per second. Normal oxygen sensor frequency is from about one to five times per second.
Effects of septal defects: (A) normal shunt; no cyanosis; (B) increased pressure in right ventricle; ... Effects of septal defects: (A) normal shunt; no cyanosis; (B) increased pressure in right ventricle; ...
Changes in bronchioles during an asthma attack: (a) normal bronchiole; (b) asthmatic bronchiole. Changes in bronchioles during an asthma attack: (a) normal bronchiole; (b) asthmatic bronchiole.
Right lateral view showing low normal curves of the vertebral column Right lateral view showing low normal curves of the vertebral column
Video: Interview with Person who has Panic Attacks

For a complete list of videos, visit our video library