MRTS 1342 Questions & 100% Correct Answers- Latest Test | Graded A | Passed

Net Pay -:- what you take home after taxes Steps in the Accounting Cycle -:- Analyze, Record, classifies, summarizes, reports, interprets common special journals -:- 1. sales journal 2. cash receipts journal 3. purchase journal 4. cash disbursement journal GAAP -:- Generally Accepted...

GAAP -:- Generally Accepted Accounting Principles GAAP's Business Entity Assumption -:- accounting principal that states that the financial records of any business The 3 Types of Companies in Managerial Accounting -:- Service companies. Merchandising companies. Manufacturing companies. F...

How does the business climate impact marketing analysis? -:- It assesses the overall economic and professional environment for businesses How does a census of housing contribute to marketing analysis? -:- By providing insights into the new home sales What does a census of business primarily fo...

Define Asset -:- Property of monetary value owned by a buisness What are the steps of the accounting process? -:- Analyze, record, classifies, summarize, reports, interprets Credit on expense account will ____________ it -:- Decrease What is the equation for balance sheet -:- Assets = lia...

What are endorsements -:- -where you sign the check (blank, special, qualified, restrictive) define payee -:- one to whom the check is payable, a person or company who will receive payment on a promissory note, check, draft or money order Define outstanding check -:- check not yet presente...

Balance owed on limo -:- Liability Dodge chemical bill for new embalming machine -:- Liability Owner's share of Profits -:- Owner's Equity Wage Expense -:- Owner's Equity Caskets in a selection room -:- Asset Cash in the bank 2 0 2 4 / 2 0 2 5 | © copyright | This work may not be...

What does GAAP stand for? -:- Generally Accepted Accounting Principles What is the formula for statement of owner equity? -:- capital - withdrawals + revenue = equity The right side of the revenue account is -:- Credit What is the balance sheet formula? -:- assets = liabilities + capital ...

What does GAAP stand for? -:- Generally Accepted Accounting Principles What is the formula for statement of owner equity? -:- capital - withdrawals + revenue = equity The right side of the revenue account is -:- Credit What is the balance sheet formula? -:- assets = liabilities + capital ...