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Accounting Questions and Answers (Q&A)

W. Mocroft, Philanthropist
Answered: Nov 27, 2018
Of the three examples given in this question, the first, the Balance Sheet is wrong because it gives financial information at one particular point in time. A balance sheet reports a company's...Read More

1 Answer

1295 views
Lnwilcox
Answered: Oct 28, 2020
All of the above are intangible

1 Answer

1227 views
Bergeront Tiffney, Computer Engineer
Answered: May 02, 2019
The answer to this is B. The monthly fixed fee is $90 but because of the additional copies that need to be made, the extras will be charged for every copy. This means that for the month of...Read More

2 Answers

1097 views
Anthony Paul Bonadio, Teacher
Answered: Jan 03, 2019
The cost of land should include the cost of removing unwanted buildings and the cost of grading and clearing the land. When you’re buying land for a business, you have to take into account...Read More

2 Answers

945 views
Lekden
Answered: Oct 28, 2020
The seller has title to the goods until they are delivered.

1 Answer

882 views
Anthony Paul Bonadio, Teacher
Answered: Jan 03, 2019
The correct course of action here is to go with answer B: journal, ledger, trial balance, financial statements. The financial statement is pretty much submitting your final essay, and the other...Read More

2 Answers

609 views
Anie Nikahi
Answered: Aug 19, 2018
Revenue is not included in the balance sheet because a balance sheet only record Assets, Liability, and Owner's Equity. Revenue is recorded in the Income Statement where it summarises cash...Read More

2 Answers

602 views
Itess.valencia
Answered: Oct 28, 2020
Yes, always

1 Answer

550 views
Although the term "right side" might be a very common term in different professions and might mean different things, the only profession that uses this term the most is in any business-related...Read More

1 Answer

519 views
The United States Declaration of Independence starts with the line, When in the course of human events… This document was approved on July 4th, 1776, by the Continental Congress. It states...Read More

2 Answers

509 views
John Smith
Answered: Oct 28, 2020
They will remain the same as production levels change within the relevant range

3 Answers

490 views
A break-even point is significant revenues to cover the total amount of variable and fixed expenses by a company in a specific time. For a company to have a break-even point, it must reduce its...Read More

2 Answers

477 views
H. Jones, Web Content Writer
Answered: Sep 11, 2019
CAT and AAT are two different qualifications. However, many people don’t know their differences. CAT is the acronym for Chartered Certified Accountant, and AAT is the acronym for...Read More

4 Answers

469 views
H. callum, Content Writer
Answered: May 10, 2019
Accounting is a practice of measuring and organizing information and data for a business or company. An accountant usually does it. The primary summary device of accounting is the account itself....Read More

2 Answers

453 views
Terrijones
Answered: Oct 28, 2020
Balance Sheet

1 Answer

442 views

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