Which of the following best describes accounting systems?
A) small business use several different types of accounting systems
B) most accounting systems are appropriate for many different sizes of business
C) affordability is the most important factor in choosing an accounting system
D) numbers of transactions are not a relevant factor when choosing a computer based accounting system
Correct Answer:
Verified
Q6: Inventory turnover refers to
A)the need to replace
Q7: The break-even point is when
A)sales dollars equal
Q8: Financial ratios are
A)helpful for isolating and analyzing
Q9: When using a service bureau
A)a small business
Q10: Credit bureaus are used to
A)evaluate customers before
Q12: An income statement can show a profit
A)as
Q13: A credit collection policy is likely to
Q14: The accounting cycle consist of
A)recording - classifying
Q15: A ledger is a(n)
A)book that records customer
Q16: One key advantage of offering credit is
A)it
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