Homework Answers
Closing of accounts is done at the end of a financial period.
Closing of accounts is done for all the temporary accounts. Profit and loss accounts are all Temporary accounts that need to be closed at every period end. Balance sheet accounts are Permanent accounts.
In the given options only one Option is a Temporary Account.
Correct answer is Option A, SUPPLIES EXPENSE
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Which of the following is NOT one of the types of supplies? Multiple Choice maintenance supplies...
Which of the following is NOT one of the types of supplies? Multiple Choice maintenance supplies repair supplies operating supplies oo professional supplies Which of the following statements does NOT describe a characteristic of a good? Multiple Choice 0 Goods are tangible items that can be touched. 0 Goods can be produced and then stored to sell at some future time. 0 Goods are typically manufactured at the location where the customer makes the purchase. 0 Goods can be owned...
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in a planning context Multiple Choice points 8 00:59:36 Ο O closed facts are preferred to open facts. Ο O new facts are preferred to old facts. Ο ) old facts are preferred to new facts. Ο open facts are preferred to closed facts. Ο None of the choices are correct.
Which of the following accounts would be closed at the end of the accounting period with...
Which of the following accounts would be closed at the end of the accounting period with a debit? Multiple Choice 0:54:00 Ο Soles Discounts Ο Operating Expenses Ο Sales Returns and Allowances Ο Cost of Goods Sold. Cushman Company had $842,000 in sales, sales discounts of $12,630, sales returns and allowances of $18.945, cost of goods sold of $399,950, and $289,650 in operating expenses. Net income equals.
Which of the following is true of a city government's pension activities? Multiple Choice Ο O...
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Which of the following accounts is increased with a credit? Multiple Choice O Accounts receivable Prepaid...
Which of the following accounts is increased with a credit? Multiple Choice O Accounts receivable Prepaid rent 0 Common stock O Dividends
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Which of the following is not an example of euploidy? Multiple Choice Ο Triploid Ο Diploid Ο Tetraploid Ο Polyploid Ο Aneuploid < Prev 12 of 40
Which account is increased by a credit? Multiple Choice Interest Expense o Supplies Supplies Accounts Receivable Service Revenue
Ignore any tax effects, is a project's cash inflow. Multiple Choice Ο decrease in accounts payable Ο increase in accounts receivable Ο decrease in inventory Ο depreciation expense Ο equipment acquisition
Which one of the following is a source of cash? Multiple Choice Ο Repurchase of common stock Ο Acquisition of debt Ο Purchase of inventory Ο Payment to a supplier Ο Granting credit to a customer Which one of the following is a source of cash? Multiple Choice Ο Increase in accounts receivable Ο Decrease in common stock Ο Increase in fixed assets Ο Decrease in accounts payable Ο Decrease in inventory
Which of the following costs should not be recorded as an expense? Multiple Choice Ο Product shipping costs Ο Product advertising Ο Sales commissions Ο Insurance on factory building
Which of the following is NOT one of the types of supplies? Multiple Choice maintenance supplies repair supplies operating supplies oo professional supplies Which of the following statements does NOT describe a characteristic of a good? Multiple Choice 0 Goods are tangible items that can be touched. 0 Goods can be produced and then stored to sell at some future time. 0 Goods are typically manufactured at the location where the customer makes the purchase. 0 Goods can be owned...
in a planning context Multiple Choice points 8 00:59:36 Ο O closed facts are preferred to open facts. Ο O new facts are preferred to old facts. Ο ) old facts are preferred to new facts. Ο open facts are preferred to closed facts. Ο None of the choices are correct.
Which of the following accounts would be closed at the end of the accounting period with a debit? Multiple Choice 0:54:00 Ο Soles Discounts Ο Operating Expenses Ο Sales Returns and Allowances Ο Cost of Goods Sold. Cushman Company had $842,000 in sales, sales discounts of $12,630, sales returns and allowances of $18.945, cost of goods sold of $399,950, and $289,650 in operating expenses. Net income equals.
Which of the following is true of a city government's pension activities? Multiple Choice Ο O Pension trust funds are reported in the fiduciary funds of the government only if the city acts as trustee for the retirement plan. Ο The net pension liability for a city administered pension plan is reported in the Statement of Fiduciary Net Position. Ο C) Both of the choices are true. Neither of the choice is true.
Which of the following accounts is increased with a credit? Multiple Choice O Accounts receivable Prepaid rent 0 Common stock O Dividends
Which of the following is not an example of euploidy? Multiple Choice Ο Triploid Ο Diploid Ο Tetraploid Ο Polyploid Ο Aneuploid < Prev 12 of 40
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