Accounting Uil Practice

Reversing Entries – Journal entries made to reverse the effect of certain adjusting entries involving accrued income or accrued expenses to avoid problems in recording future payments or receipts of cash in a new accounting period.
Bank statement – A report o deposits, withdrawals, and bank balances sent to a depositor by a bank
Ethics – Codes of conduct by which actions are judged as right or wrong, fair or unfair, honest or dishonest. (p.9)
Disallowed costs – Those charges to an award that the Federal awarding agency determines to be un-allowable, in accordance with the applicable Federal cost principles or other terms and conditions contained in the award.
Liability, Balance Sheet – Type and Statement for: Unearned Rent Revenue
Notes payable is a what liability – Cannot determine its classification without additional information.
Current Liabilities include – short term notes payable
accrued expenses
accounts payable
unearned revenue
____ payable
income taxes payable
current portion of L/T debt
Phosphorus has an atomic mass of 31 and an atomic number of 15.  Which model correctly depicts the electrons in the electron orbitals of phosphorus?   A B  C
Recordkeeping – Part of accounting that involves recording transactions and events, either manually or electronically. Bookkeeping
What type of intangible asset is a contractual agreement under which the provider presents the providee the right to sell certain products? – Franchise or License
Phоsphоrus hаs аn аtоmic mass of 31 and an atomic number of 15.  Which model correctly depicts the electrons in the electron orbitals of phosphorus?   A B  C
Long-term assets: Natural Resources – Timber and oil. Less accumulated depletion

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