Cash discounts ar - Study guides, Class notes & Summaries

SUA MidtermFor making provisions for Bad Debt the journal entry is: Dr. Allowance for Doubtful Accounts Cr: Accounts Receivable - correct answer False, that is to write off an account as uncollectible. Freight-In Balance in GL is required for calculating COGS - correct answer True Bad Debt Expense is calculated after multiplying a certain percentage by Gross Sales - correct answer False, it is by CREDIT sales You have done the year ending adjustment entry in the General Journal to...

General Ledger: What rolls an account's ending balance, for each reporting period into the retained earnings accounts, effectively making the balance forward for the account zero? - Non-closing accounts General Ledger: What GL configuration option prevents users from entering a journal entry or other transaction that does not balance for the current dimension? - Enforce JE balancing General Ledger: What does an entity translate to for transacting in a multi-entity shared environment? - Lo...

MRTS 1342 Exam Study Guide with Complete Solutions Accounting - Answer️️ -A language of business employed to communicate financial information based upon analyzing recording, classification, summarization, reporting, and interpretation of financial data. Accounting equation - Answer️️ -Assets equal Liabilities plus Owner's Equity Accounts Payable - Answer️️ -an unwritten promise to pay creditors for property, such as merchandise, 10 supplies, or equipment, purchased on credi...

Sage Intacct Implementation Exam Questions and Correct Answers Accounts Payable: AP approvals are based on what amount? - ANSWER-Bill Amount .Accounts Payable: How can vendors be organized into categories for reporting? - ANSWER-Vendor types .Accounts Payable: How can you edit accounting information on both partially and fully paid bills and adjustments? - ANSWER-Reclassification .Accounts Payable: In a cash basis company, when does the system post a vendor's bill expense account to t...

Acct 3222 | 1 2023 Final Exam Prepared 100% Questions with A+ Correct Answers Revenue - CORRECT ANSWER-inflows of assets from delivery or producing goods or rendering services - realized and earned Realized - CORRECT ANSWER-product/service is exchanged for cash/promise/other asset Earned - CORRECT ANSWER-products have been delivered or services provided Criteria for Revenue - CORRECT ANSWER-- evidence - delivered/rendered - price fixed and determinable - assured collectability Fraud Ris...

SAP Certification Exam 353 Questions with Verified Answers All marketing documents have tabs for Contents, Logistics, Accounting, and Attachments (T/F) - CORRECT ANSWER True What is an easy way to assign a standard role based cockpit to a user? a. Use the Form Settings window to choose the Authorization Group b. Assign an Authorization Group to a User in the Users-Setup Window c. Select the Authorization Group in the Widget Gallery - CORRECT ANSWER b. Assign an Authorization Gro...

General Ledger: What rolls an account's ending balance, for each reporting period into the retained earnings accounts, effectively making the balance forward for the account zero? - answer-Non-closing accounts General Ledger: What GL configuration option prevents users from entering a journal entry or other transaction that does not balance for the current dimension? - answer-Enforce JE balancing General Ledger: What does an entity translate to for transacting in a multi-entity shared env...

ACA Assurance Questions and Answers 2023 What are the 5 key elements of an assurance engagement? CREST Criteria Report Evidence Subject matter (the thing being checked) Three party relationship What are the auditor appointment considerations before acceptance of an engagement? MANICS Management Integrity Adequate Resources Nature of Engagement (level of risk) Identification Communicate with previous auditor Stability What is the letter of engagement? Sets out the obj...

SAP Certification Exam Questions And Ans SAP Certification Exam All marketing documents have tabs for Contents, Logistics, Accounting, and Attachments (T/F) - ANS True What is an easy way to assign a standard role based cockpit to a user? a. Use the Form Settings window to choose the Authorization Group b. Assign an Authorization Group to a User in the Users-Setup Window c. Select the Authorization Group in the Widget Gallery - ANS b. Assign an Authorizat...

HFMA Questions Answered 100% correct, Scored A+ Definition of cost Can be the amount paid for the service. It can also be the amount paid for salaries or to other vendors Direct Cost Are the costs that can be traced directly to a department, product, or service (Salaries, Employee benefits, medications, supplies, aging and equipment maintenance contract Direct cost in a health Plan Would be the actual claims payments made by the plan on behalf of its members indirect cos...