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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

2 Answers

467 views
Ferranti
Answered: Mar 31, 2020
The ability to produce more of a given product using a given amount of resources

1 Answer

433 views
Lnwilcox
Answered: Mar 31, 2020
All of the above are intangible

1 Answer

418 views
Anthony Paul Bonadio, Teacher
Answered: Jan 03, 2019
A balance sheet has three sections, named Assets, Liabilities, and Equity. The point of a balance sheet is to keep track of these three things over a long period of time. For those not in the...Read More

2 Answers

389 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. In other words, the correct answer is D: both A and B. When you’re...Read More

3 Answers

373 views
C is the right answer. Cost of materials is one of the variable values in a business. A variable cost creates changes in the proportion of the production output. It may decrease or increa...Read More

2 Answers

371 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

346 views
Lekden
Answered: Mar 31, 2020
The seller has title to the goods until they are delivered.

1 Answer

320 views
John Smith
Answered: Mar 31, 2020
Adjusting entries are necessary to properly measure the periods net income

1 Answer

310 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

307 views
Malcolm Carneal, Corporate employee
Answered: Dec 18, 2018
There are several ways to pay when you go into a store. If you go up to the cashier to purchase some items, the cashier may ask you how you want to pay for the items. There are several ways...Read More

2 Answers

307 views
E. Stanley, Technical writer
Answered: Nov 11, 2018
It is always wise to forecast revenue by calculating a best and a worst scenario. To forecast income rapidly it would be sensible to consider projected sales revenue by the contribution margin...Read More

2 Answers

301 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

300 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

299 views
John Smith
Answered: Mar 31, 2020
They will remain the same as production levels change within the relevant range

3 Answers

293 views

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