Debit abbreviated dr - Study guides, Class notes & Summaries
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WGU D102 Financial Accounting Unit 3 Exam With 100% Correct Answers 2024
- Exam (elaborations) • 5 pages • 2024
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WGU D102 Financial Accounting Unit 3 Exam With 100% Correct Answers 2024
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Accounting 26th Edition Carl Warren James M Reeve Jonathan Duchac - Test Bank (Complete Test Bank Chapter No.1 - 26 with Questions Answers)
- Exam (elaborations) • 2271 pages • 2023
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Chapter 02 
 
 
1.	Accounts are records of increases and decreases in individual financial statement items. 
a.	True 
b.	False 
 
ANSWER:	True 
DIFFICULTY:	Easy 
Bloom’s: Remembering 
LEARNING OBJECTIVES:	ACCT.WARD.16. 
ACCREDITING STANDARDS:	ACCT.ACBSP.APC.01 - Purpose 
ACCT.ACBSP.APC.02 - GAAP 
ACCT.AICPA.FN.03 - MeasurementBUSPROG: Analytic 
2.	A chart of accounts is a listing of accounts that make up the journal. 
a.	True 
b.	False 
 
ANSWER:	False 
DIFFICULTY:	Easy 
Bloom’s: Remembering...
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FAC1503 Financial Accounting Principles For Law Practitioners SUMMARY STUDY NOTES 2021 (learning unit 2).
- Summary • 46 pages • 2022
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FAC1503 Financial Accounting Principles For Law Practitioners SUMMARY STUDY NOTES 2021 (learning unit 2). Contents 
Learning outcomes ................................................................................................................... 2 
Key concepts ............................................................................................................................ 2 
Acronyms ....................................................................................................
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WGU D102 financial accounting all terms questions and answers
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account - ANSWER-an accounting record in which the results of transactions are accumulated; shows increases, decreases, and a balance 
 
accounts receivable - ANSWER-a current asset representing money due for services performed or merchandise sold on credit 
 
accrual accounting - ANSWER-the process of recording expenses and revenues when incurred and earned, regardless of when cash is received, and of adjusting original transaction data into refined measures of a firm's past economic performan...
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FAC1503 SUMMARY STUDY NOTES 2021 (learning unit 2)
- Summary • 46 pages • 2022
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FAC1503 SUMMARY 
STUDY NOTES 2021 
(learning unit 2) 
The financial records of an entity only deal with transactions that are measured in monetary 
terms. The duality of the financial accounting system better known as the double-entry system 
is a method whereby the transactions are recorded systematically to show the giving and 
receiving of value. 
The accounting cycle details the formal accounting process. The steps discussed in this 
learning unit are as follows (indicated by yellow shading)...
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Test Bank Accounting 25th Edition by Carl S. Warren, James M. Reeve and Jonathan Duchac
- Exam (elaborations) • 115 pages • 2022
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Test Bank Accounting 25th Edition by Carl S. Warren, James M. Reeve and Jonathan Duchac/ 
 
 
 
TEST BANK ACCOUNTING 
25TH EDITION BY CARL S. 
WARREN, JAMES M. REEVE 
AND JONATHAN DUCHAC 
 
 
 
 
 
 
 
 
Chapter 2: Analyzing Transactions 
 
1. Accounts are records of increases and decreases in individual 
financial statement items. 
 
TRUE 
 
2. A chart of accounts is a listing of accounts that make up the journal. 
True False 
 
 
 
 
3. The chart of accounts should be ...
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WGU D102 financial accounting all terms Exam Questions and Answers 100%
- Exam (elaborations) • 10 pages • 2023
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account - ANSWER-an accounting record in which the results of transactions are accumulated; shows increases, decreases, and a balance 
 
accounts receivable - ANSWER-a current asset representing money due for services performed or merchandise sold on credit 
 
accrual accounting - ANSWER-the process of recording expenses and revenues when incurred and earned, regardless of when cash is received, and of adjusting original transaction data into refined measures of a firm's past economic performan...
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