Rules for recording transactions do not include:
A) Increase in revenues, gains or other support account when earnings are received.
B) After each transaction, the fundamental account equation must be in balance.
C) An accounting method when cash was received or expended.
D) Increase an expense account when an asset is used.
Correct Answer:
Verified
Q1: Transactions summarized by account are called:
A) Journal
B)
Q2: Which of the following is a standard
Q4: To develop financial statements, transactions
A) Must be
Q5: Statement of Operations includes:
A) Operating Expenses
B) Increase
Q6: A statement of cash flows includes:
A) Cash
Q7: The "book" refers to transactions
A) Only done
Q8: In the accrual accounting method:
A) Revenues are
Q9: Functions of an internal audit department include:
A)
Q10: Recording transactions assists in:
A) Accuracy of financial
Q11: Transactions are recorded chronologically in a journal.
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