Match the Following Definition with the Correct Accounting Term: * The Account used to record a...
Match the Following Definition with the Correct Accounting Term:
* The Account used to record a Transaction where our Business Pays Cash Before our Business Receives Goods and Services:
*The Account used to record a Transaction where Our Business Receives Cash Before we provide Goods and Services
* The Accounting Term to Describe The Allocation of the Cost of an Asset over the Accounting period in which the Asset is used.
Homework Answers
Correct accounting terms are as follows:
* Advances to suppliers account
* Unearned revenue account
* Depreciation expense
Add Answer to:
Match the Following Definition with the Correct
Accounting Term:
* The Account used to record a...
In Which Month should our Business record Revenue into our Accounting Records. Our Business signs a...
In Which Month should our Business record Revenue into our Accounting Records. Our Business signs a contract with a Customer in November. The Services are provided to the Customer in December. The Cash is collected from the Customer in January. None of these Choices December November January When our Business pays Cash or a Check for Goods and Services Before Our Business actually receives any of the Goods or Services, This is called what Type of Accounting Transaction ? Accrued...
Match each definition with its related term by selecting the appropriate term in the dropdown provided....
Match each definition with its related term by selecting the appropriate term in the dropdown provided. There should be only one definition per term (that is, there are more definitions than terms). (Select "None of these are correct" if there is no Term for the "Definition".) Term Definition A. Report the long life of a company in shorter periods. B. Record expenses when incurred in earning revenue. The time it takes to purchase goods or services from suppliers, sell goods...
Match each definition with its related term by selecting the appropriate botter in the drop down...
Match each definition with its related term by selecting the appropriate botter in the drop down provided. There should be only one definition per term. (that is, there are more definitions than terma.) Definitions: A. Report the long life of a company in shorter periods. B. Record expenses when incurred in caming revenue The time it taken to purchase goods or services from suppliers, vol goods or services to customers, and collect cash from customer. D. revenues E. Increases in...
Match the following terms to the correct definition Match the following terms to the correct definition. 1. term used t...
Match the following terms to the correct definition
Match the following terms to the correct definition. 1. term used to describe the double stranded chromosomes present after DNA replication alleles A. cell division that results in the formation of B 4 cells each containing haploid number of chromosomes crossing over division of the cytoplasm type of cell division that results in the formation of 2 daughter cells genetically identical to parent cell pairing of homologous sister chromatids during prophase I...
Score: 10 EF1-19 (book/static) Consider the following accounting terms and definitions, and match each term to...
Score: 10 EF1-19 (book/static) Consider the following accounting terms and definitions, and match each term to the definition: (Click the icon to view the definitions.) (Abbreviations used: Stmt. = Statement, ret. = retained; beg. = beginning.) Term Definition 1. Accounting equation 2. Asset 3. Balance sheet Expense 4. 5. Income statement 6. 7. Liability Net income 8. Net loss 9. Revenue 10. Stmt. of cash flows 11. Stmt. of ret. earnings More Info a. b. c. e. An economic resource...
Question 2 (30%) Matching the following statement with the BEST accounting term: Description (1) A detailed...
Question 2 (30%) Matching the following statement with the BEST accounting term: Description (1) A detailed inventory record is maintained, recording each purchase and sale during the accounting period. (2) Systematic allocation of the cost of an asset to expense during the period of its useful life. (3) An increase in equity resulting from profitable operation. 4) A liability account used to record the obligation to provide future services when cash has been received before revenues have been earned. Term...
Which of the following statements about cash basis accounting and accrual basis accounting is correct? Multiple...
Which of the following statements about cash basis accounting and accrual basis accounting is correct? Multiple Choice 1 O If payment is received at the same time a service is provided, it does not matter whether cash basis accounting or accrual basis accounting is used; both would record the transaction with the same journal entry The cash basis of accounting works best when a lengthy delay exists between the timing of cash flows and the underlying business activities to which...
Match the definition on the left with the term/item on the right. It is a collection...
Match the definition on the left with the term/item on the right. It is a collection of all accounts with their activity and balances that exist in a business. It is a book of original entry that includes a chronological record of all transactions that Have occurred within a business during a period occurred It is a list of each account and its balance at any given time and is used to verify that debits = credits It is a...
e1-19 E1-19 Using accounting vocabulary Consider the following accounting terms and definitions, and match each term...
e1-19
E1-19 Using accounting vocabulary Consider the following accounting terms and definitions, and match each term to the definition: Learnin 1. Accounting equation a. An economic resource that is expected to be of benefit in the future 2. Asset b. Debts that are owed to creditors 3. Balance sheet c. Excess of total expenses over total revenues 4. Expense d. Excess of total revenues over total expenses 5. Income statement 6. Liability e. The basic tool of accounting, stated as...
1. Match each term associated with accrual-basis and cash-basis accounting with its most appropriate description. Accru...
1. Match each term associated with accrual-basis and cash-basis accounting with its most appropriate description. Accrual-basis expense Accrual-basis revenue Revenue recognition principle Cause-and-effect Cash basis revenue Cash-basis expense Match each of the options above to the items below. A company pays cash for supplies in May and uses those supplies in June. The expense is recorded in May. A company pays cash for supplies in May and uses those supplies in June. The expense is recorded in June A company...
In Which Month should our Business record Revenue into our Accounting Records. Our Business signs a contract with a Customer in November. The Services are provided to the Customer in December. The Cash is collected from the Customer in January. None of these Choices December November January When our Business pays Cash or a Check for Goods and Services Before Our Business actually receives any of the Goods or Services, This is called what Type of Accounting Transaction ? Accrued...
Match each definition with its related term by selecting the appropriate term in the dropdown provided. There should be only one definition per term (that is, there are more definitions than terms). (Select "None of these are correct" if there is no Term for the "Definition".) Term Definition A. Report the long life of a company in shorter periods. B. Record expenses when incurred in earning revenue. The time it takes to purchase goods or services from suppliers, sell goods...
Match each definition with its related term by selecting the appropriate botter in the drop down provided. There should be only one definition per term. (that is, there are more definitions than terma.) Definitions: A. Report the long life of a company in shorter periods. B. Record expenses when incurred in caming revenue The time it taken to purchase goods or services from suppliers, vol goods or services to customers, and collect cash from customer. D. revenues E. Increases in...
Match the following terms to the correct definition
Match the following terms to the correct definition. 1. term used to describe the double stranded chromosomes present after DNA replication alleles A. cell division that results in the formation of B 4 cells each containing haploid number of chromosomes crossing over division of the cytoplasm type of cell division that results in the formation of 2 daughter cells genetically identical to parent cell pairing of homologous sister chromatids during prophase I...
Score: 10 EF1-19 (book/static) Consider the following accounting terms and definitions, and match each term to the definition: (Click the icon to view the definitions.) (Abbreviations used: Stmt. = Statement, ret. = retained; beg. = beginning.) Term Definition 1. Accounting equation 2. Asset 3. Balance sheet Expense 4. 5. Income statement 6. 7. Liability Net income 8. Net loss 9. Revenue 10. Stmt. of cash flows 11. Stmt. of ret. earnings More Info a. b. c. e. An economic resource...
Question 2 (30%) Matching the following statement with the BEST accounting term: Description (1) A detailed inventory record is maintained, recording each purchase and sale during the accounting period. (2) Systematic allocation of the cost of an asset to expense during the period of its useful life. (3) An increase in equity resulting from profitable operation. 4) A liability account used to record the obligation to provide future services when cash has been received before revenues have been earned. Term...
Which of the following statements about cash basis accounting and accrual basis accounting is correct? Multiple Choice 1 O If payment is received at the same time a service is provided, it does not matter whether cash basis accounting or accrual basis accounting is used; both would record the transaction with the same journal entry The cash basis of accounting works best when a lengthy delay exists between the timing of cash flows and the underlying business activities to which...
Match the definition on the left with the term/item on the right. It is a collection of all accounts with their activity and balances that exist in a business. It is a book of original entry that includes a chronological record of all transactions that Have occurred within a business during a period occurred It is a list of each account and its balance at any given time and is used to verify that debits = credits It is a...
e1-19
E1-19 Using accounting vocabulary Consider the following accounting terms and definitions, and match each term to the definition: Learnin 1. Accounting equation a. An economic resource that is expected to be of benefit in the future 2. Asset b. Debts that are owed to creditors 3. Balance sheet c. Excess of total expenses over total revenues 4. Expense d. Excess of total revenues over total expenses 5. Income statement 6. Liability e. The basic tool of accounting, stated as...
Most questions answered within 3 hours.
-
Assume Kw = 1.01 ✕ 10−14
For pure water, we can calculate [H3O+ ] = [OH...
asked 47 minutes ago -
Suppose that on a temperature scale X, water boils at 203.0°X
and freezes at -105.7°X. What...
asked 1 hour ago -
BaS crystallizes in a cubic unit cell with S2- ions on each
corner and each face....
asked 2 hours ago -
A. 0≤P(Oi)≤10≤P(Oi)≤1 for each i
B. P(Oi)≤0P(Oi)≤0
C. P(Oi)=1+P(OCi)P(Oi)=1+P(OiC)
D. P(Oi)≥1P(Oi)≥1
If an experiment consists of...
asked 3 hours ago -
A battery has an emf of 9.20V and an internal resistance of 1.20
ohm. a)What resistance...
asked 3 hours ago -
The area of an elastic circular loop decreases at a constant
rate, dA/dt = −6.60×10−3 m2/s...
asked 4 hours ago -
The denaturation of proteins can be described by the
equilibrium
F⇌U
where F and U represent...
asked 6 hours ago -
Please answer what the maximum and minimum force is, and the
angle on the ion is...
asked 6 hours ago -
implement a program that reads a number of rows and a symbol.
The program will draw...
asked 6 hours ago -
Assume that when adults with smartphones are randomly selected,
45% use them in meetings or classes....
asked 6 hours ago -
Determine the number of formula units of
Na2SO4 and moles of oxygen contained in 8.11
moles...
asked 6 hours ago -
Explain in steps on the following code
What would be the output when executed
using System;...
asked 6 hours ago