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 270 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?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Did you know?

The human body produces and destroys 15 million blood cells every second.

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

Did you know?

In Eastern Europe and Russia, interferon is administered intranasally in varied doses for the common cold and influenza. It is claimed that this treatment can lower the risk of infection by as much as 60–70%.

Did you know?

The first documented use of surgical anesthesia in the United States was in Connecticut in 1844.

An ECG strip showing a normal sinus rhythm with the P wave, QRS complex, and T wave identified. An ECG strip showing a normal sinus rhythm with the P wave, QRS complex, and T wave identified.
Normal lab values Normal lab values
Maintaining Physiological Balance Maintaining Physiological Balance
Acid–Base Balance Acid–Base Balance
Primary Type of Floor Framing Primary Type of Floor Framing
High stress, by household type (age-standardized), age 18+, Canada, 1994-1995 High stress, by household type (age-standardized), age 18+, Canada, 1994-1995
Video: Proteins Defined, Hierarchy & Composition of Cells

For a complete list of videos, visit our video library