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Author Question: Which of the following statements is true of indirect methods of proof? A) The cash method, which ... (Read 174 times)

TFauchery

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on: Jul 6, 2018
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


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jesse.fleming

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Reply #1 on: Jul 6, 2018
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


TFauchery

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Reply #2 on: Jul 6, 2018
Thank you :)


jesse.fleming

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Reply #3 on: Jul 6, 2018
Happy to help you


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