AAMI Accounting 2

AAMI Accounting 2

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AAMI ACCOUNTING 2/44 QUESTIONS AND ANSWERS
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    AAMI ACCOUNTING 2/44 QUESTIONS AND ANSWERS

  • AAMI ACCOUNTING 2/44 QUESTIONS AND ANSWERS
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AAMI BUS 411: Accounting II Exam with Questions and Answers
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    AAMI BUS 411: Accounting II Exam with Questions and Answers

  • AAMI BUS 411: Accounting II Exam with Questions and Answers Income Summary Account gets closed to: ANSWER Capital. What account would you NOT find in a post closing trial balance? ANSWER Postage Costs. The Capital Account gets closed to: ANSWER It doesn't get closed. When closing Revenue to Income Summary, you do what to the Revenue Account? ANSWER Debit Revenue. Is Accounts Receivable a permanent or temporary account? ANSWER Permanent. Is "Accounts Payable" a permanent or t...
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AAMI Accounting 2 Final | 100% Correct Answers | Verified | Latest 2024 Version
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    AAMI Accounting 2 Final | 100% Correct Answers | Verified | Latest 2024 Version

  • The concept that prices rise over time - Inflation Another term for sales - Revenue Sales - Cost of Goods Sold - Gross Profit In an inflationary period what method of inventory valuation would lower profits - LIFO In an inflationary period what method of inventory valuation would increase profits - FIFO In a deflationary period what method of inventory valuation would lower profits - FIFO In a deflationary period what method of inventory valuation would higher profits - LIFO What method o...
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