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Author Question: Type of account and normal balance of Sales Discount: a. Asset, DR b. Revenue, CR c. Liability, ... (Read 69 times)

FButt

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on: Jul 6, 2018
Type of account and normal balance of Sales Discount:
 a. Asset, DR
   b. Revenue, CR
   c. Liability, CR
   d. Contra-Revenue, DR

Question 2

Which of the following has the highest level of authority for a government under GAAP?
 
  a. A FASB standard.
  b. A GASB Implementation Guide.
  c. AICPA Industry Audit and Accounting Guide for local governments cleared by the GASB.
  d. An article in the Journal of Accountancy


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Shshxj

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Reply #1 on: Jul 6, 2018
Answer to Question 1

d

Answer to Question 2

C


FButt

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Reply 2 on: Jul 6, 2018
Excellent

ghepp

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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