Mrts 1342 exam - Study guides, Class notes & Summaries
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MRTS 1342 Final Exam Questions and Answers
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MRTS 1342 Final Exam Questions and Answers 
Which of the following is required on a General Price List: 
A. Establishment name 
B. Establishment address 
C. Establishment's telephone number 
D. Effective date of the GPL 
E. All of these - Answer-All of these 
 
A separate record of each employee's earning's earnings is called - Answer-Employee Earning Record 
 
Depreciation expense is based on estimates of useful lives and salvage value - Answer-True 
 
General Price List - Answer-The corners...
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MRTS 1342 final exam | Questions And Answers Latest {2024- 2025} A+ Graded | 100% Verified
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MRTS 1342 final exam | Questions And Answers Latest {} A+ Graded | 100% 
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MRTS- 1342 final exam | Questions And Answers Latest {2024- 2025} A+ Graded | 100% Verified
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MRTS- 1342 final exam | Questions And Answers Latest {} A+ Graded | 100% 
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MRTS 1342 Exam 2 Study Guide with Complete Solutions
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MRTS 1342 Exam 2 Study Guide with 
Complete Solutions 
What are endorsements - Answer️️ --where you sign the check (blank, special, 
qualified, restrictive) 
define payee - Answer️️ -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 - Answer️️ -check not yet presented to the bank for payment 
or deducted from the bank balance 
Deposit in transit - Answer️️ --deposits not yet ...
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MRTS 1342 Exam 1 Study Guide with Complete Solutions
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MRTS 1342 Exam 1 Study Guide with 
Complete Solutions 
Define Asset - Answer️️ -Property of monetary value owned by a buisness 
What are the steps of the accounting process? - Answer️️ -Analyze, record, classifies, 
summarize, reports, interprets 
Credit on expense account will ____________ it - Answer️️ -Decrease 
What is the equation for balance sheet - Answer️️ -Assets = liability + capital - 
withdrawal 
Chart of Accounts - Answer️️ -A numbering system of accounts that li...
And that's how you make extra money
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MRTS 1342 Final Exam Study Guide with Complete Solutions
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MRTS 1342 Final Exam Study Guide 
with Complete Solutions 
Balance owed on limo - Answer️️ -Liability 
Dodge chemical bill for new embalming machine - Answer️️ -Liability 
Owner's share of Profits - Answer️️ -Owner's Equity 
Wage Expense - Answer️️ -Owner's Equity 
Caskets in a selection room - Answer️️ -Asset 
Cash in the bank - Answer️️ -Asset 
Personal investments in the business - Answer️️ -Owner's Equity 
Paying a telephone bill - Answer️️ -Owner's Equit...
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MRTS- 1342 final exam Study Guide with Complete Solutions
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MRTS- 1342 final exam Study Guide 
with Complete Solutions 
GAAP - Answer️️ -Generally Accepted Accounting Principles 
GAAP's Business Entity Assumption - Answer️️ -accounting principal that states that 
the financial records of any business 
The 3 Types of Companies in Managerial Accounting - Answer️️ -Service companies. 
Merchandising companies. 
Manufacturing companies. 
Financial Accounting - Answer️️ -is the collection of accounting data to create financial 
statements 
Man...
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MRTS- 1342 final exam Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed
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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. 
Financial Accounting 
 -:- is the collection of accounting data to create financial statements 
Managerial Accounting 
2 0 2 4 / 2 0 2 5 | © copyright | This work may not be copied for profit gain | E...
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MRTS 1342 Final Study Guide with 100% Correct Solutions
- Exam (elaborations) • 6 pages • 2024
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MRTS 1342 Final Study Guide with 100% 
Correct Solutions 
What does GAAP stand for? - Answer️️ -Generally Accepted Accounting Principles 
What is the formula for statement of owner equity? - Answer️️ -capital - withdrawals + 
revenue = equity 
The right side of the revenue account is - Answer️️ -Credit 
What is the balance sheet formula? - Answer️️ -assets = liabilities + capital - 
withdrawals 
On the T-Chart, debits are on the - Answer️️ -Left 
What is the expanded accounti...
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Bundle For MRTS 1342 Exam Questions with Answers All Correct
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MRTS 1342 Launching a Business Questions and Answers

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MRTS 1342 Final Study Guide with Complete Solutions

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MRTS 1342 Exam 2 Questions with Complete Solutions

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MRTS 1342 Exam 1 Questions with Revised Answers

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MRTS 1342 Final Test Questions and Answers All Correct
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