WGU D103 INTERMEDIATE ACCOUNTING I UNIT 2-4 EXAM WITH GUARANTEED ACCURATE ANSWERS
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Course
WGU D103
Institution
WGU D103
APB Opinions - ACCURATE ANSWERS The APB's official pronouncements issued from 1959 through 1973 which were intended to be based mainly on research studies and be supported by reasons and analysis.
Accounting Principles Board (APB) - ACCURATE ANSWERS An accounting rule-making board which provided...
WGU D103 INTERMEDIATE
ACCOUNTING I UNIT 2-4 EXAM
WGU D103 INTERMEDIATE ACCOUNTING I UNIT 2-4 EXAM WITH GUARANTEED
ACCURATE ANSWERS
APB Opinions - ACCURATE ANSWERS✔✔ The APB's official
pronouncements issued from 1959 through 1973 which were intended to
be based mainly on research studies and be supported by reasons and
analysis.
Accounting Principles Board (APB) - ACCURATE ANSWERS✔✔ An
accounting rule-making board which provided official pronouncements,
called APB Opinions, from 1959 through 1973.
Accounting Research Bulletins - ACCURATE ANSWERS✔✔
Pronouncements issued by CAP dealing with a variety of timely
accounting problems during the years 1939 to 1959.
,Accrued Expenses - ACCURATE ANSWERS✔✔ Expenses incurred
but not yet paid.
Accrued Revenues - ACCURATE ANSWERS✔✔ Revenues for which
the performance obligation has been satisfied, but for which cash has not
yet been received.
Adjusted Trial Balance - ACCURATE ANSWERS✔✔ A trial balance
prepared immediately after all adjustments have been posted.
Adjusting Entries - ACCURATE ANSWERS✔✔ Entries made at the
end of an accounting period to bring all accounts up to date on an
accrual accounting basis.
American Institute of Certified Public Accountants (AICPA) -
ACCURATE ANSWERS✔✔ The national professional organization of
practicing Certified Public Accountants.
Book Value - ACCURATE ANSWERS✔✔ The difference between the
cost of an asset and its related accumulated depreciation.
Closing Process - ACCURATE ANSWERS✔✔ The formal process by
which all nominal accounts are reduced to zero to prepare the accounts
for the next period's transactions.
, Committee On Accounting Procedure (CAP) - ACCURATE
ANSWERS✔✔ An organization composed of practicing CPAs which
issued Accounting Research Bulletins dealing with a variety of
accounting problems during the years 1939 to 1959.
Comparability - ACCURATE ANSWERS✔✔ Ability to compare
accounting information of different companies because they measure
and report information in a similar manner.
Completeness - ACCURATE ANSWERS✔✔ All information necessary
for faithful representation is provided.
Conceptual Framework - ACCURATE ANSWERS✔✔ A coherent
system of interrelated objectives and fundamentals that can lead to
consistent standards.
Confirmatory Value - ACCURATE ANSWERS✔✔ Information that
confirms or corrects prior expectations.
Consistency - ACCURATE ANSWERS✔✔ An entity applies the same
accounting treatment to similar events from period to period.
Contra Asset Account - ACCURATE ANSWERS✔✔ An account that
offsets an asset account on the balance sheet.
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