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Author Question: The account ____________ is used to record amounts due from charge customers. a. cash b. accounts ... (Read 144 times)

chandani

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on: Jul 6, 2018
The account ____________ is used to record amounts due from charge customers.
 a. cash
  b. accounts payable
  c. accounts receivable
  d. revenue

Question 2

Since 2002, the FASB and the International Accounting Standards Board (IASB) have been working to merge U.S. GAAP with international financial reporting standards (IFRS). Which of the following terms is used to describe this process?
 
  A) merger
  B) integration
  C) convergence
  D) unification


Kjones0604

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Reply #1 on: Jul 6, 2018
Answer to Question 1

C

Answer to Question 2

C
Explanation: C) Since 2002, the FASB and the International Accounting Standards Board (IASB) have been working to merge U.S. GAAP with international financial reporting standards (IFRS), a process known as convergence.


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