Multiple Choice
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
Correct Answer:
Verified
Q10: A statement of cash flows includes:<br>A) Cash
Q11: Contra-asset is an asset that when increased,
Q12: A statement of cash flows provides information
Q13: Functions of an internal audit department include:<br>A)
Q14: To develop financial statements, transactions<br>A) Must be
Q15: In the accrual accounting method:<br>A) Revenues are
Q16: A balance sheet highlights assets, liabilities and
Q17: Which of the following is a standard
Q18: The "book" refers to transactions<br>A) Only done
Q19: In health care the cash accounting method