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

Author Question: Which of the following statements is true of indirect methods of proof? A) The cash method, which ... (Read 157 times)

TFauchery

  • Hero Member
  • *****
  • Posts: 500
Which of the following statements is true of indirect methods of proof?
 
  A) The cash method, which has limited application, is feasible only when the number of units and price can be determined easily.
  B) When there is an accumulation of assets without a corresponding source of funds the unit and volume method is most commonly used.
  C) The bank deposit method is used when the subject (individual or business) consumes income rather than accumulates assets.
  D) Successful use of the net worth method requires a complete reconstruction of the subject's financial history, including all assets, liabilities, expenditures, and sources of funds.

Question 2

The closing date in QuickBooks is
 a. The last day of your fiscal year
   b. The last day of the calendar year
   c. The day your company started using QuickBooks
   d. None of the above



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jesse.fleming

  • Sr. Member
  • ****
  • Posts: 301
Answer to Question 1

D
Explanation: D) Successful use of the net worth method requires a complete reconstruction of the subject's financial history, including all assets, liabilities, expenditures, and sources of funds.

Answer to Question 2

a





 

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

Congestive heart failure is a serious disorder that carries a reduced life expectancy. Heart failure is usually a chronic illness, and it may worsen with infection or other physical stressors.

Did you know?

Cancer has been around as long as humankind, but only in the second half of the twentieth century did the number of cancer cases explode.

Did you know?

Stevens-Johnson syndrome and Toxic Epidermal Necrolysis syndrome are life-threatening reactions that can result in death. Complications include permanent blindness, dry-eye syndrome, lung damage, photophobia, asthma, chronic obstructive pulmonary disease, permanent loss of nail beds, scarring of mucous membranes, arthritis, and chronic fatigue syndrome. Many patients' pores scar shut, causing them to retain heat.

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

For a complete list of videos, visit our video library