Read more: What Is the Difference Between an Asset & an Expense? | eHow.com http://www.ehow.com/info_12085244_difference-between-asset-expense.html#ixzz2Lt18CKe5 2 What is an Expense? Expenses are costs related to running the business. Expenses are deducted from revenue to determine the profitability of a company. Typically‚ the largest expense for a company is cost of goods sold -- raw materials‚ direct labor and other costs related to manufacturing or purchasing an item for resale. Depreciation
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The proof that categories of the understanding and a transcendental unity of apperception are necessary condition for the possibility of experience is what Immanuel Kant claims to be the “Transcendental Deduction”. By this‚ Kant intends to address and attack one main problem: how we‚ as humans‚ can know that the categories apply to experience. From logic‚ we can easily conclude that empirical concepts are applicable to experience due to the simple fact that they are derived from experience in the
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required a. yearly. b. quarterly. c. monthly. d. every time financial statements are prepared. 6. Each of the following accounts is closed to Income Summary except a. Expenses. b. Owner’s Drawing. c. Revenues. d. All of these are closed to Income Summary. 7. Which of these items would be accounted for as an expense? a. Repayment of a bank loan. b. Dividends to stockholders. c. The purchase of land. d. Payment of the current period’s rent. 8. Which of the following would not be included
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Working Capital=Current Assets-Current Liabilities =Accounts Receivable + Inventory - Accounts Payable “Working capital is how much in liquid assets that a company has on hand. Working capital is needed to pay for planned and unexpected expenses‚ meet the short-term obligations of the business‚ and to build the business.” 2. Give concrete measures how w.c. can be optimized (receivable‚ inventories (JIT‚ etc.) Due to the formulas as followed in Question 1‚ “accounts receivable‚ inventory
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1.1.1 Health Expense Coverage Health expense coverage can be included by basic health insurance‚ major medical insurance‚ and miscellaneous coverage. Basic health insurance has less cost-sharing provisions and it can be known as three parts: hospital insurance‚ surgical insurance‚ and regular medical expense insurance. 1) Hospital insurance is one of health insurance plan that offering restriction coverage for hospital confinement due to illness‚ accidents‚ and intensive care of convalescence.
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|MBA 502A--Financial Accounting: Accounting Cycle Project (KidKare‚ Inc. 2011) | | |General Journal | | |G15 | |Date |Account Titles & Explanations |Ref |Debit |Credit | |Dec30 |Childcare Exp.
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you have been alerted to this activity. Which management actions will you look for as evidence that the investors’ interests are not being protected? 1. 2. 3. 4. c. Overstated revenues and assets Overstated expenses and liabilities Understated revenues and liabilities Understated expenses and assets Mallona Manufacturing Limited (MML) is a small manufacturing company that has established
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Yilin Zhang First Question The transcendental deduction is about priori concepts‚ categories. The aim of it is to demonstrate that we have a priori notions or categories that are objectively valid‚ along with applying necessarily to all things in the world that we experience under space and time. To achieve it‚ Kant brings up the argument that the categories are necessary conditions of experience‚ or that failing to have the condition of categories leads no experience at all. He debates on that
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accrual basis accounting‚ revenues are recognized when earned and expenses are recognized when incurred. TrueFalse(circle one) If false‚ explain below or correct above: 2.Expenses are decreases in assets or increases in liabilities incurred in order to generate revenues. TrueFalse(circle one) If false‚ explain below or correct above: 3.Deferred expenses are initially recorded as assets and when they are later used‚ expenses will increase and assets will decrease. TrueFalse(circle one) If
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Depreciation Expense |Accumulated Depreciation | |Year 1 |$30‚000 |$30‚000 | |Year 2 | 30‚000 | 60‚000 | |Year 3 | 30‚000 | 90‚000 | Double Declining | |Annual Depreciation Expense
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