What is the debit/credit effect of an unearned revenue adjusting entry? What type of account is the dividends account? What kind of accounts cannot be included in multiple-step income statement? And why? Which of the following types of accounts has a normal credit balance? a) Assets b) Wit...
A liability is an obligation arising from a past business event. It is reported on a company’s balance sheet. Liabilities are also part of the basic accounting equation: Assets = Liabilities + Stockholders’ Equity. Liabilities are often viewed as claims against the company’s assets. However,...
题目What is the basic equation of accounting? A. Assets = Liabilities + Equity B. Revenue - Expenses = Profit C. Depreciation - Amortization = Loss D. Cost of Goods Sold + Operating E. xpenses = Net Income 相关知识点: 试题来源: 解析 A ...
A contingent liability is a potential liability that may or may not become an actual liability. Whether the contingent liability becomes an actual liability depends on a future event occurring or not occurring. In accounting, some contingent liabilities and their related contingent losses are: Recorded...
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Businesses using cash basis accounting only report income when they receive it and expenses when they pay them. This approach can result in deferring tax liabilities, as income recognition may occur in a later tax period, potentially giving the business more time to use those funds for growth...
百度试题 结果1 题目What is the accounting equation? A. Assets = Liabilities + Equity B. Assets - Liabilities = Equity C. Equity = Assets - Liabilities D. All of the above 相关知识点: 试题来源: 解析 D 反馈 收藏
a capital lease is treated as a purchase of an asset undergenerally accepted accounting principles (GAAP), while an operating lease is handled as a true rental agreement. Capital leases impact a company's financial statements, affecting interest expense, depreciation expense, assets, and liabilities...
In the world of accounting, "credit" has a more specialized meaning. It refers to a bookkeeping entry that records a decrease in assets or an increase in liabilities (as opposed to adebit, which does the opposite). For example, suppose that a retailer buys merchandise on credit. After the...
百度试题 结果1 题目What is the basic accounting equation? A. Assets = Liabilities + Equity B. Revenue - Expenses = Net Income C. Assets = Liabilities D. Liabilities = E. quity 相关知识点: 试题来源: 解析 A 反馈 收藏