Bills payable Study guides, Revision notes & Summaries

What is a general ledger? A general ledger account is an account or record used to sort, store and summarize a company's transactions. asset accounts such as Cash, Accounts Receivable, Inventory, Investments, Land, and Equipment liability accounts including Notes Payable, Accounts Payable, Accrued Expenses Payable, and Customer Deposits stockholders' equity accounts such as Common Stock, Retained Earnings, Treasury Stock, and Accumulated Other Comprehensive Income What is the diff...

Which statement provides the basic justification for zoning? A. There must be regulations in place to prevent pollution B. The government does not want to encourage land development C. The inappropriate use of one's property may affect the value of another D. Professional planners want to control development - Answer- C. The inappropriate use of one's property may affect the value of another What is the rationale behind government planning of real estate development? A. To manage futu...

1. A financial counselor/Financial Assistance: In accordance with Section 501(r) regulations through the Affordable Care Act, a hospital must establish a written financial assistance policy and make it available to patients. 2. Batch Processing: Execution of a series of jobs in a computer program without manual intervention; it is used to help maximize the use of computer resources and stabilize response time by performing system-intensive work during hours when users are less likely to require...

P1.1A (LO 4), AP Fredonia Repair Inc. was started on May 1. A summary of May transactions is presented as follows. Stockholders invested $10,000 cash in the business in exchange for common stock. Purchased equipment for $5,000 cash. Paid $400 cash for May office rent. Paid $300 cash for supplies. Incurred $250 of advertising costs in the Beacon News on account. Received $4,700 in cash from customers for repair service. Declared and paid a $700 cash dividend. Paid part-time employee salar...

What does Accounts Receivable mean? a) These are the total amount of money owed to our vendors from open bills b) These are the invoices that were pre-paid before the product was delivered c) These are accounts used to receive inventory d) It means these are values customers owe us, typically from open invoices e) It's a bank account that only receives deposits f) All of the Above g) None of the Above (Ans- D What is the difference between a customer and a job? a) A customer is...

WGU C708 Principles of Finance Latest 2022 with Verified Solutions Matching Principle The revenues and the expected incurred to generate those revenues must be reported together; a fundamental component of accrual-based accounting. Historical Cost Principle Items that appear on the financial statement are listed at the cost when purchased. Current Assets Cash or assets that will be converted into cash within the next year. Gross Fixed Assets Property, Plant, and Equipment (PP&E). These are on...

absolute advantage - Answer-A monopoly on producing a product at a lesser price. absolute liability - Answer-Responsibility of a producer of any harm that is caused by s product (regardless if it was foreseeable). accountability - Answer-Accepting consequences of actions. accounting - Answer-The occupation of maintaining and auditing records and preparing financial reports for a business and the interpretation thereof. accounting system - Answer-Computer program for accounting. accounts p...

Introduction to Business DSSTabsolute advantage - correct answer A monopoly on producing a product at a lesser price. absolute liability - correct answer Responsibility of a producer of any harm that is caused by s product (regardless if it was foreseeable). accountability - correct answer Accepting consequences of actions. accounting - correct answer The occupation of maintaining and auditing records and preparing financial reports for a business and the interpretation thereof. acco...

Introduction to Business DSST Question and answers rated A+ 2023/2024absolute advantage - correct answer A monopoly on producing a product at a lesser price. absolute liability - correct answer Responsibility of a producer of any harm that is caused by s product (regardless if it was foreseeable). accountability - correct answer Accepting consequences of actions. accounting - correct answer The occupation of maintaining and auditing records and preparing financial reports for a business...

The FDA, Food Safety and Inspection Service, and CDC jointly publish this reference document for regulatory agencies responsible for overseeing food safety in retail outlets: Food Code Food Law F oodNet Food Regulations The correct answer is A. Every four years, these regulatory agencies release the Food Code. Which of the following financial terms represents current liabilities? Accrued expenses, depreciation Depreciation, retained earnings Retained earnings, accounts payable Accounts payable, ...