as total debits? (Points : 5) $34‚000 $36‚000 $70‚000 $31‚000 . (TCOs B‚ E) Why is the accrual basis of accounting preferred by GAAP? (Points : 5) The Accrual basis is easier to use. The Accrual basis is also preferred by the Internal Revenue Service. The Accrual basis complies with the revenue recognition and matching principles. The Accrual basis requires fewer accounting resources. . (TCO D) In a period of increasing prices‚ which inventory cost flow assumption will result in the
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Separate Pasts‚ Growing Up White in the Segregated South Separate Pasts is an award winning novel written by Melton A. McLaurin that delves into the 1950s era where racism was evident around each corner. McLaurin honestly explores the relationships he had with his fellow white peers as well as the African Americans during his childhood in the southern United States. This novel was a moving tale that examined the racist times that plagued our vast history. McLaurin did not understand at a young
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ACCOUNTING EXAM 2 STUDY GUIDE Chapter 5 1. Know the following terms: merchandise inventory‚ sales‚ sales returns and allowances‚ sales discounts‚ net sales‚ cost of merchandise sold‚ gross profit‚ operating expenses‚ operating cycle‚ purchase discounts‚ purchase returns and allowances‚ FOB shipping point‚ FOB destination‚ and inventory shrinkage. 2. Be able to prepare a multiple step income statement. 3. Be able to prepare the journal entries for the seller and buyer including
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The basic accounting concepts have defined the conception of the preparation of financial statements and the process of preparation in the UK is well regulated. But financial accounting requires a fair amount of flexibility in some certain areas‚ so the need of judgements and estimations for accounts preparers is demand. Meanwhile it leaves a significant approach in accounting treatments. For example‚ when organizations decide which of several inventory valuation methods to utilize; managers make
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of the times‚ people find it difficult to understand the various accounting Concepts. In this coursework‚ I shall analyze these concepts and explain them. First of all I shall discuss the materiality concept. WHAT IS MATERIALITY? Authoritative accounting bodies in the USA such as Financial Accounting Standard Board (FASB)‚ Securities and Exchange Commission (SEC)‚ General Accounting Office (GAO)‚ American Institute of Certified Public Accountants
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L-2 – On the Trail of the Earliest People – CBSE – Our Past Q.1 Complete the sentences: Ans. (a) Hunter-gatherers chose to live in caves and rock shelters because they provided shelter from the rain‚ heat and wind. (b) Grasslands developed around __12000__years ago. (c) Early people painted on the walls of caves. (d) In Hunsgi‚ tools were made of limestone. Q.2 Look at the present-day political map of the subcontinent on page 136. Find out the states where Bhimbetka‚ Hunsgi
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To: Carminho Building Products Ltd From: Rodrigues Accounting Dear Sir/Madam‚ We are submitting herewith our report entitled UK Subsidiary Expansion. The main purpose of this report is to help Carminho Building Products Ltd decide the potential and suitable site for the formation of a public listed subsidiary. This report will include United Kingdom’s current financial reporting environment and other information that Carminho Building Products Ltd would need in order to make a sound decision
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students due to examination is a reflection of the effect of failure or otherwise in public examinations at the end of prescribed courses of study and this depends on how prepared such students are. In this paper the issues of examination malpractice form the background of discussions. The paper reports the trends of examination malpractice and assesses the Act 33 of 1999 and its implications on examination malpractice. Relevant suggestions relating to implementation of the Act were made. These
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INTRODUCTION: "India was the motherland of our race and Sanskrit the mother of Europe’s languages. India was the mother of our philosophy‚ of much of our mathematics‚ of the ideals embodied in Christianity... of self-government and democracy. In many ways‚ Mother India is the mother of us all." - Will Durant‚ American Historian 1885-1981 Mathematics is an important field of study. Mathematics is essential as it helps in developing lots of realistic skills‚ in fact study of mathematics itself include
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1/ NCFE Level 3 Award in Counselling Skills And Theory (500/6328/5) 4 WEEKS EXAM PAPER Paper Ref; P000179 Total Words Used 3038 Answer to Question 1a Unconditional Positive Regard – Congruence – Empathy Unconditional Positive Regard means to me‚ putting no conditions on the working relationship between you and the client‚ it’s looking for and bringing out the positive side of the client. Showing you care‚ to listen in a none- judgemental caring way. It’s allowing the client to
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