Accounting

Materiality – Information that would influance decisions of a reasonable person need be disclosed
One of the following statements about promissory notes is incorrect. The incorrect statement is
A. The party making the promise to pay is called the maker.
B. The party to whom payment is to be made is called the payee.
C. A promissory note is not a negotiable instrument.
D. A promissory note is often required from high-risk customers. – C
Postdated check – A check with a future date on it.
permanent accounts or real accounts – the balance sheet accounts that carry their balances into the next accounting period
intangible assets – lack physical substance and are not financial instruments (patents, copyrights, franchises, goodwill, trademarks, trade names, and customer lists)
Vendor – A business from which merchandise is purchased or supplies or other assets are bought.
Which of the following lymphatic tissues/organs begins to atrophy following puberty
Compound Entry – An entry requiring more than one debit and/or more than one credit.
Accounting – Information and measurement system that identifies, records, and communicates relevant information about a company's business activities.
Which оf the fоllоwing lymphаtic tissues/orgаns begins to аtrophy following puberty
reliable information – trusted by users
Petty Cash – A amount of cash on hand and used for making small payments
double declining balance depreciation – 2 * 1/life
expense: book value at beginning of year * declining balance rate
liabilities – accounts payable
accrued expensed payable
notes payable
taxes payable

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