Accounting Principles and Formulas exam questions and answers 2023 100% verified correct answers.
Accounting Principles and Formulas exam questions and answers 2023 100% verified correct answers. Basic Accounting Equation - answer-Assets = Liabilities + Owner's Equity Business Entity - answer-The financial statements report about a single business. Every business gets its own set of books. Accountants do not mix in the owner's personal financial information. Current - answer-"Current" liabilities are those debts that must be paid within one year or one operating cycle, whichever is longer. Current Ratio - answer-Current Assets/Current Liabilities = Current Ratio Debt Ratio - answer-Total Liabilities/Total Assets = Debt Ratio Alternate Debt Ratio - answer-100% - Equity Ratio = Debt Ratio
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accounting principles and formulas exam questions
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