Principles of Accounting

WGU VYC1 Principles of Accounting – Q/A

Principles of Accounting VYC1 Questions and Answers

Principles Of Accounting Final Exam New Update!!

Principles of Accounting Final exam Questions and Answers

Principles of Accounting Exam Questions With Answers The Accounting Equation - ANSWER- Net assets = proprietor's funds Assets - Liabilities = Capital + Profit [or - Losses] - Drawings Debits and Credits - ANSWER- In a double-entry: Debits represent assets, expenses, or drawings; Credits represent liabilities, income, or capital. Accounting for Closing Stock - ANSWER- The required double-entry is Dr Stock (Balance Sheet); Cr P&L. It now reflects an asset and profits are increas...

Principles Of Accounting Test Questions And Answers The following comments all relate to the recording process. Which of these statements is correct? - ANSWER- The general ledger is posted from transactions recorded in the general journal. Of the following account types, which would be increased by a debit? - ANSWER- Assets and expenses The following comments each relate to the recording of journal entries. Which statement is true? - ANSWER- Journalization is the process of converting t...

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Principles of Accounting VYC1

Principles of Accounting Final Exam (2024) || All Questions & Solutions (100% Correct) Principles of Accounting Final Exam (2024) || All Questions & Solutions (100% Correct) The Matching principle in accounting requires the matching of: A: Revenue earned with the expenses incurred to produce revenue B: Revenue earned with the liabilities used to produce the revenue C: Revenue earned with the assets used to produce the revenue D: Revenue earned with the assets used less the liabilities i...

Principles of Accounting Final exam