However, money given to an employee via an expense account is not a liability for a future date. Instead, it's money expensed, or spent, in the present by the employer that permits the employee to engage in conduct that will generate revenue for that company. Recording Liability vs. E...
Under the accrual method of accounting, an expense is a cost that is reported on the income statement for the period in which: The cost best matches the related revenues The cost is used up or expires There is uncertainty or difficulty in measuring the future benefit of the cost Examples of...
Expenses are a normal and important part of doing business globally. Learn more about what is an expense and different types of expenses with our guide.
Checking the signature on an expense claim is an example of what type of control?A. MandatedB. DiscretionaryC. ApplicationD. Accounting 正确答案:B 分享到: 答案解析: 暂无解析 统计:共计83人答过,平均正确率45.78% 问题:进入高顿部落发帖帮助 相似题型 热门网课更多>> 论坛精华更多>> 题库APP下...
An expense center is a department or service in an organization that is considered to be of no direct financial benefit to the...
But, the good news is that it doesn’t matterwhich type of expenseclaim an employee submits. Your policy will have any reimbursable expenses outlined. So, when an employee does submit an expense claim, you can easily do an expense check to confirm the information. ...
An alternative to factoring is to establish a line of credit for your business. You can draw on this line of credit while you wait to collect payments. You’ll pay your bank interest for the money that you have borrowed from your line of credit and potentially some additional fees to keep...
A federally-insured savings account that pays a modest interest rate can help you build an emergency fund, save for a major expense or grow your savings, however certificates of deposit and money market accounts may offer higher interest rates. What is a savings account?A...
What is a drawing account? What does the bank do in the case of checks returned as not sufficient funds? What account is when a company pays half and put half on an account? What type of information is contained in nominal accounts, and what type in real accounts?
While Account Payable refers to how much a business owes,Accounts Receivable(AR) encompasses the money owed to the business. It refers to the money that is expected from customers but has not yet been paid. Like Accounts Payable, AR could refer to the department responsible for this money. ...