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Question 29 Not yet answered Points out of 1.00 p Flag question A complete accounting cycle occurs once every Select one: O a
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Question 33 Not yet answered Points out of 1.00 p Flag question Which statement is true concerning the straight-line method o
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Answer #1

Q 29). An accounting cycle completes in a fiscal period. So option D is correct.

Q27). Net sales-cost of goods sold = Gross profit. So, option A is correct.

Q33). In straight-line depreciation method, salvage value is reduced from the asset's cost and then depreciation is taken evenly across useful life of the asset. So option B is correct.

Q32). Supplies are asset to the company, So whenever they are consumed, they are recorded as expense on the income statement. So, option A is correct.

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