Books of original entry - Study guides, Revision notes & Summaries
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WGU D102 Pre-Assessment Exam with complete solutions
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What information is contained in a balance sheet? - ANSWER-Report of a company's financial position as of a point in time. 
 
What is an owners' equity item? - ANSWER-Capital stock 
 
A company ended July with assets of $150,000 and owner's equity of $60,000. 
What is the amount of liabilities at the end of July? - ANSWER-$90,000 
 
What is reported in a multiple-step income statement that is not reported in a single-step income statement? - ANSWER-Gross profit 
 
How is gross profit computed...
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ENG M 401 UPDATED Exam Questions and CORRECT Answers
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How much did we make, and how much do we keep? (in a given time period) - Income 
statements 
How much do we have, and where did it come from? (at a given point in time)? - Balance 
sheets 
Where did our money go? (in a given time period) - Cash flow statements 
What is Bookkeeping? - Process of collecting, classifying, and recording raw information 
that arises from those transactions, in order to prepare financial statements 
What are the books of original entry? - Journals, the first level...
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ACA [ICAEW] – ACCOUNTING| 50 QUESTIONS| WITH COMPLETE SOLUTIONS
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Books of Original Entry Correct Answer: 1. Cash Book 
2. Sales Day Book (Credit Sales) 
3. Purchases Day Book (Credit Purchases) 
4. Petty Cash Book 
5. Journal Book 
6. The Payroll 
 
Statement of Financial Position Correct Answer: SOFP 
- Snapshot of assets controlled, liabilities owned and capital at a point in time 
 
Statement of Profit and Loss Correct Answer: Income and expenses over a period of time 
 
The Business entity concept Correct Answer: Business transactions should be kept s...
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ACCY 200 Exam 1 UIUC Verified
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ACCY 200 Exam 1 UIUC Verified 
A cash equivalent is a current asset that: is readily convertible into cash with a minimal risk. 
A concept or principle that relates to transactions is: original cost. 
A credit entry will: increase a liability account. 
A debit entry will: increase the balance of an expense account. 
A firm wishing to minimize the amount reported for taxable income and maximize the amount reported 
as net income in the year in which a new long-term asset is placed in servic...
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ACA [ICAEW] – ACCOUNTING Exam Questions With Verified Answers
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ACA [ICAEW] – ACCOUNTING Exam 
Questions With Verified Answers 
Books of Original Entry - answer1. Cash Book 
2. Sales Day Book (Credit Sales) 
3. Purchases Day Book (Credit Purchases) 
4. Petty Cash Book 
5. Journal Book 
6. The Payroll 
Statement of Financial Position - answerSOFP 
- Snapshot of assets controlled, liabilities owned and capital at a point in time 
Statement of Profit and Loss - answerIncome and expenses over a period of time 
The Business entity concept - answerBusiness trans...
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Nbcot QUESTIONS AND ANSWERS
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A client with COPD is doing ADL rehab as part of outpatient pulmonary rehab program. client reports 
right shoulder discomfort for last several days which is constant during day and worse at night. Over the 
counter pain meds don't help. Pulse oximetry is 89%. What should OT do? 
A. Administer physical agent modality to relieve shoulder pain 
B. Advise client to increase frequency of pursed lips breathing 
C. Complete sensory and motor assessment to determine shoulder pain 
D. Contact referring...
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WGU C756 Data Analytics / CIW Data Analyst Questions and Answers Graded A+
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WGU C756 Data Analytics / CIW Data Analyst Questions and Answers Graded A+ 
three steps to obtaining good data to make more optimal business decisions: Step 1: Capturing data Step 2: Analyzing data Step 3: Using data 
general journal An all-purpose journal in which all the transactions of a business may be recorded. The general journal is part of the accounting system in which record is kept. These are books of original entry in which transactions are first recorded. 
general ledger A ledger tha...
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Chapter 01 The Life, Times, and Career of the Professional Salesperson True / False Questions 1.	The marketing concept is a business philosophy that says the customers' want- satisfaction is the economic and social justification for a firm's existe
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CHAPTER 2: CONSOLIDATION OF FINANCIAL 
INFORMATION 
 
Accounting standards for business combination are found in FASB ASC Topic 805, ―Business Combinations‖ and Topic 810, ―Consolidation.‖ These standards require the acquisition method which emphasizes acquisition-date fair values for recording all combinations. 
 
In this chapter, we first provide coverage of expansion through corporate takeovers and an overview of the consolidation process. Then we present the acquisition method o...
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ACA [ICAEW] ACCOUNTING – Exam Questions With 100% Correct Answers Latest 2024/2025.
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ACA [ICAEW] ACCOUNTING – Exam Questions With 100% Correct Answers Latest 2024/2025. Books of Original Entry - ANSWER 1. Cash Book 
2. Sales Day Book (Credit Sales) 
3. Purchases Day Book (Credit Purchases) 
4. Petty Cash Book 
5. Journal Book 
6. The Payroll 
Statement of Financial Position - ANSWER SOFP 
- Snapshot of assets controlled, liabilities owned and capital at a point in time 
Statement of Profit and Loss - ANSWER Income and expenses over a period of time 
The Business entity concept...
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ACA ICAEW ACCOUNTING Exam Questions With 100% Correct Answers Latest 2024/2025.
- Exam (elaborations) • 6 pages • 2024
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ACA ICAEW ACCOUNTING Exam Questions With 100% Correct Answers Latest 2024/2025. Books of Original Entry - ANSWER 1. Cash Book 
2. Sales Day Book (Credit Sales) 
3. Purchases Day Book (Credit Purchases) 
4. Petty Cash Book 
5. Journal Book 
6. The Payroll 
Statement of Financial Position - ANSWER SOFP 
- Snapshot of assets controlled, liabilities owned and capital at a point in time 
Statement of Profit and Loss - ANSWER Income and expenses over a period of time 
The Business entity concept - ANS...
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