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Complete Package Deal For Acct 253 exam study questions and answers solved 2024
Complete Package Deal For Acct 253 exam study questions and answers solved 2024
[Show more]Complete Package Deal For Acct 253 exam study questions and answers solved 2024
[Show more]Define Accounting 
Accounting is the process of identifying, measuring, recording, and communicating an organization's economic activities to users for decision making 
Managerial Accounting 
Serves decision-making needs of internal users. 
Financial Accounting 
Focuses on external reporting to mee...
Preview 2 out of 8 pages
Add to cartDefine Accounting 
Accounting is the process of identifying, measuring, recording, and communicating an organization's economic activities to users for decision making 
Managerial Accounting 
Serves decision-making needs of internal users. 
Financial Accounting 
Focuses on external reporting to mee...
accrual accounting - recognize revenues when earned and expenses when incurred, regardless of when cash is exchanged 
 
cash accounting - recognize revenues and expenses when cash is paid or collected 
 
accrued revenues - an asset, company provides product or service to customer before receiving pa...
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Add to cartaccrual accounting - recognize revenues when earned and expenses when incurred, regardless of when cash is exchanged 
 
cash accounting - recognize revenues and expenses when cash is paid or collected 
 
accrued revenues - an asset, company provides product or service to customer before receiving pa...
Sole Proprietorship - A business owned by one person 
Simple to set up and gives you control over business 
 
Partnership - A business owned by two or more persons associated as partners. Typically a partnership agreement sets forth terms, such as initial investment, duties of each partner, division...
Preview 1 out of 4 pages
Add to cartSole Proprietorship - A business owned by one person 
Simple to set up and gives you control over business 
 
Partnership - A business owned by two or more persons associated as partners. Typically a partnership agreement sets forth terms, such as initial investment, duties of each partner, division...
Accounting - an information system that identifies, measures, records and communicates understandable, relevant, reliable, and comparable information about an organization's economic activities. 
 
bookkeeping - the recording of financial transactions, either manually or electronically, for the pur...
Preview 2 out of 11 pages
Add to cartAccounting - an information system that identifies, measures, records and communicates understandable, relevant, reliable, and comparable information about an organization's economic activities. 
 
bookkeeping - the recording of financial transactions, either manually or electronically, for the pur...
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