112 Best Accounting Questions and Answers (Q&A) - ProProfs Discuss

What term is used to describe factors in a decision problem that cannot be expressed effectively in numerical terms?

Alanaseeto
Answered: Apr 26, 2024

Qualitative

1 Answer

332 views

What was the balance of work i process as of april 30?

Toyin faks
Answered: Apr 26, 2024

29,900

1 Answer

328 views

How would net income be most likely to affect accounting equation?

Lnwilcox
Answered: Apr 26, 2024

Increase A Increase OE

1 Answer

327 views

What happens when boot is involved in an exchange having commercial substance?

Jlyons
Answered: Apr 26, 2024

Gains or losses are recognized in their entirely.

1 Answer

315 views

What is the purpose of finance?

John Smith
Answered: Apr 26, 2024

D: $150,000

. Answer A is incorrect. The company has retained earnings to use as one source of project financing. B. Answer B is incorrect. This answer multiplies, rather than divides by,...Read More

1 Answer

304 views

What is the accounting rate of return on the investment?

AllAmericanOne
Answered: Apr 26, 2024

8.75%

1 Answer

303 views

Can you give an example of tangible goods?

Macbuff
Answered: Apr 26, 2024

Accounting Textbook

1 Answer

302 views

What is the difference between Managerial Accounting and Financial Accounting?

Samantha Stewart, Philanthropist
Answered: Aug 22, 2019

Accounting is a broad field where there are many different avenues to take. If you are a college student interested in numbers, you may want to go into accounting. However, you will need to...Read More

2 Answers

298 views

How should an entity choose which depreciation method to use in accounting?

John Smith
Answered: Apr 26, 2024

The method which best reflects way we use up the value of the asset over its expected useful life

IAS8, Accounting Policies; Changes in Accounting Estimates; and Errors

1 Answer

296 views

What are insurance policies for?

J.Barbara
Answered: Mar 07, 2018

Insurance policies are standard form contracts that provide its bearers or policyholders with a form of financial protection, guarantee, or reimbursement in the case of losses, death or maturity....Read More

1 Answer

291 views

What is the sales volume variance for total revenue?

John Smith
Answered: Apr 26, 2024

$100,000 favorable

1 Answer

285 views

What is the difference between Invoice and Statement?

Daniel Frederic
Answered: Jul 12, 2019

Many at times, invoice and statement are used interchangeably for each other, but this is not always right. An invoice can be a statement, but a statement might not be an invoice. An invoice is a...Read More

1 Answer

282 views

What should Jacques's income statement report?

John Smith
Answered: Apr 26, 2024

Gain on sale of $4,500

1 Answer

266 views

What is the difference between IASB and FASB?

Howard Reyes, Science Teacher
Answered: Jul 17, 2019

IASB and FASB are the short forms of the International Accounting Standard Board, and Financial Accounting Standard Board, respectively. Both IASB and FASB are similar in terms of function...Read More

1 Answer

259 views

When was the first book on double entry accounting published?

Lynn
Answered: Apr 26, 2024

1494

1 Answer

247 views

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