This topic contains a solution. Click here to go to the answer

Author Question: Type of account and normal balance of Sales Discount: a. Asset, DR b. Revenue, CR c. Liability, ... (Read 66 times)

FButt

  • Hero Member
  • *****
  • Posts: 519
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



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Shshxj

  • Sr. Member
  • ****
  • Posts: 335
Answer to Question 1

d

Answer to Question 2

C




FButt

  • Member
  • Posts: 519
Reply 2 on: Jul 6, 2018
Thanks for the timely response, appreciate it


meow1234

  • Member
  • Posts: 333
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Did you know?

Women are 50% to 75% more likely than men to experience an adverse drug reaction.

Did you know?

The types of cancer that alpha interferons are used to treat include hairy cell leukemia, melanoma, follicular non-Hodgkin's lymphoma, and AIDS-related Kaposi's sarcoma.

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

For a complete list of videos, visit our video library