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CFI Accounting Exam Questions And Answers (Verified And Updated)
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CFI Accounting Exam Questions And Answers (Verified And Updated) Where would 'accounts payable' most likely appear in a set of financial statements? - answerIn the balance sheet under 'current liabilities' The purpose of the income statement is to: - answerShow the revenues, expenses and operating profit for the financial year What is the best definition of a non-current asset? - answerAn asset intended for use on a continuing basis in the company's activities Within how many months of the balance sheet date is a current liability usually payable? - answer12 months What is the principal purpose of charging depreciation on non-current assets? - answerTo spread the cost of the assets over their estimated useful lives
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