1.When a specific account receivable is written off‚ the entry A) increases net income. B) decreases net income. C) can either decrease or increase net income. D) has no effect on net income.2.Echo Company’s 2011 beginning and ending accounts receivable balances were $72‚500 and $41‚250 respectively. During 2011‚ the company’s sales (all on credit) amounted to $857‚250. Per Echo’s 2011 cash flow statement‚ $873‚500 was collected from customers while $18‚750 related to uncollectible accounts was
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Obesity is a serious disease in today’s society. Obesity is defined as having excessive fat in body tissues. The most common measure of obesity is the body mass index (BMI). Besides‚ obesity is influenced by many causes such as eating habits‚ unhealthy lifestyle‚ and genetics. Firstly‚ the cause of obesity in our society is eating habits. Our bodies require calories for daily normal functions and activities. Gaining weight occurs due to increase in the amount of calories consumed over its need.
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ABSTRACT The study aimed at assessing the effectiveness of computerized accounting systems in organizations (the general objective of the study). It employed a case study design and Ministry of Finance and Economic Affairs was chosen as the case of the study. Various literatures were consulted to get the theoretical and empirical thoughts of stupendous authors about the topic under study to help the researcher craft and refine her methodology. Questionnaires‚ documentation and interviews were
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illustrated throughout Gloria Anzaldua’s “How to Tame a Wild Tongue”. The language you speak is a part of your culture‚ and your culture is what defines a person the most. Living in a country that is seen to be melting pot of many cultures and heritages‚ you are bound to encounter someone of another culture but that doesn’t mean we suppress their ability to represent who they are because of their lack of knowledge pertaining to the primary language used in this country. Immigrants use language to preserve
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Rehabilitation in our Prison System Rehabilitation in our Prison System When Jeannette Brown first got out of prison in April 2000‚ she had nowhere to go. With felony convictions for battery and gun possession‚ and little education or special skills‚ Jeannette couldn’t find a job to support her five kids. Had she found one‚ she still wouldn’t have had a driver’s license or a car to get there. Jeannette met regularly with a parole officer‚ but their relationship was hostile
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Reflection of Our Society After reading the “Archipelago”‚ a story which dealing with the evolution of inhabitants of an island‚ writing by A.C Tillyer‚ we begin to understand that the island depicted in this short story is reflecting the evolution of our own society trough time. This story is dealing with fear and intolerance‚ problems that each of us is facing every single day. First we will see that the Archipelago at the beginning and before the construction of the wall‚ and our world in prehistoric
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liability accounts are closed to the balance sheet. -the post-closing trial balance shows the updated capital account balance. -the financial statements are prepared from the adjusted trial balance. -accumulated depreciation is a permanent account and does not close at the end of the period and the balance sheet is carried forward into the next period. -capital is a permanent account. -the closing process zeroes out all revenues and expenses. -current assets will be used up or converted to cash within
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Descriptive Theory 3 Economic Theory 4 Decision Usefulness Theory 5 Critical Accounting Theory and Critical Theory 6 System-Oriented Theories 7 Open System Theories 8 Behavioral Decision Theory 9 Legitimacy Theory 10 Political Economy Theory 11 Institutional Theory 12 Stakeholder Theory 13 Agency Theory 14 Normative Theory 15 Public Interest Theory 16 Capture Theory 17 Economic Interest Theory/Private Interest Theory 17 Positive Accounting Theory 18 Chambers
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Social norms are almost an invisible part of our society. They play a role in our lives every single day‚ but for the most part‚ they go unnoticed. Social norms are the established standards of behavior maintained by a society. They are basically “guidelines” on how to act‚ what is normal behavior‚ and if anyone breaks these standards‚ their actions are considered to be unnormal or inappropriate. There are a few different types of social norms; they include folkways‚ mores‚ formal norms‚ laws‚ and
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Chapter 1 BE1-1 Briefly define accounting. What are the three main characteristics of accounting? Is accounting static or dynamic? Accounting collects‚ analyzes‚ measures and records financial information about an organization and reports that information to stakeholders and decision makers. Accounting has 3 essential characteristics. Accounting is the (1) identification‚ measurement‚ and communication of financial information about economic entities to interested persons. Like social
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