CBAD 201 Exam 2 – Questions With Correct Solutions
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Perio Study DENT 475 - Implant components NBDE II Review - Pro
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Practice questions for this set
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records the impact of a business transaction as it occurs
Choose an answer
1 Cash Basis Accounting 2 Accrual Accounting
3 Fraud triangle 4 Accrued Revenue
Don't know?
Terms in this set (19)
Accrual Accounting records the impact of a business transaction as it occurs
Cash Basis Accounting records only cash transactions
paid and recorded in an asset account before they are used or
Prepaid Expenses
consumed. Paid first, expensed later.
Unearned Revenue is a liability. Cash is received before the revenue is earned.
Accrued Expenses expenses incurred but not paid.
Accrued Revenue revenue that has earned but not collected.
a report of revenue, expenses, and net income or loss from
Income Statement
operations for a specific period.
Increases and decreases in retained earnings. Period of time. The
Statement of Retained Earnings
only place you can find dividends.
Balance Sheet Ending balance of all assets, liabilities, and equity. Point of time.
Temporary Accounts revenue, expenses, and dividend accounts.
Permanent Accounts Asset, liability, and stockholders' equity accounts.
Save
Students also studied
Perio Study DENT 475 - Implant components NBDE II Review - Pro
Teacher 78 terms 42 terms 69 terms
Hunter_Charters Preview gillphil Preview melissa_jarvis7
Practice questions for this set
Learn 1 /7 Study with Learn
records the impact of a business transaction as it occurs
Choose an answer
1 Cash Basis Accounting 2 Accrual Accounting
3 Fraud triangle 4 Accrued Revenue
Don't know?
Terms in this set (19)
Accrual Accounting records the impact of a business transaction as it occurs
Cash Basis Accounting records only cash transactions
paid and recorded in an asset account before they are used or
Prepaid Expenses
consumed. Paid first, expensed later.
Unearned Revenue is a liability. Cash is received before the revenue is earned.
Accrued Expenses expenses incurred but not paid.
Accrued Revenue revenue that has earned but not collected.
a report of revenue, expenses, and net income or loss from
Income Statement
operations for a specific period.
Increases and decreases in retained earnings. Period of time. The
Statement of Retained Earnings
only place you can find dividends.
Balance Sheet Ending balance of all assets, liabilities, and equity. Point of time.
Temporary Accounts revenue, expenses, and dividend accounts.
Permanent Accounts Asset, liability, and stockholders' equity accounts.
