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 226 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?

Illness; diuretics; laxative abuse; hot weather; exercise; sweating; caffeine; alcoholic beverages; starvation diets; inadequate carbohydrate consumption; and diets high in protein, salt, or fiber can cause people to become dehydrated.

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

Did you know?

Many medications that are used to treat infertility are injected subcutaneously. This is easy to do using the anterior abdomen as the site of injection but avoiding the area directly around the belly button.

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Did you know?

Only 12 hours after an egg cell is fertilized by a sperm cell, the egg cell starts to divide. As it continues to divide, it moves along the fallopian tube toward the uterus at about 1 inch per day.

Normal portal circulation. Normal portal circulation.
Jaguar F-type front Jaguar F-type front
Voltmeter hook-ups for voltage-drop testing of a GM-type cranking circuit. Voltmeter hook-ups for voltage-drop testing of a GM-type cranking circuit.
Basic molecular mechanisms of delayed-type hypersensitivity. Basic molecular mechanisms of delayed-type hypersensitivity.
Normal and Impaired Vision Normal and Impaired Vision
Normal electrocardiogram tracing Normal electrocardiogram tracing
Video: Proteins

For a complete list of videos, visit our video library