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Korolek [52]
3 years ago
14

Most CLEP exams correspond to blank college courses

Business
1 answer:
Kamila [148]3 years ago
8 0
True Because they have preperations for your tests
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Other financial data for the year ended December 31, 2019: Included in accounts receivable is $1,200,000 due from a customer and
Kipish [7]

Answer:

$5,055,000

Explanation:

Note: <em>The full question is attached below</em>

<em />

Particulars                                                                    Amount

Cash                                                                            $875,000

Accounts receivable                          $2,695,000  

Less: Installments not due in 2021   <u>($600,000)</u>      $2,095,000

[$1,200,000 - ($150,000 * 4)]  

Inventory                                                                      <u>$2,085,000</u>

Total of current assets                                               <u>$5,055,000</u>

5 0
2 years ago
Which of the following about economic freedom is true?a. Low income countries that have adopted institutions and policies consis
MAXImum [283]

Answer:

Correct answer is (a)

Explanation:

Low income countries that have adopted institutions and policies consistent with economic freedom have grown rapidly

When the country policies are congruent and consistent, the institutions tends to be stable and in turns gross development increases geometrically.

8 0
3 years ago
If the findings and the results are not presented properly, the research completed was a waste of time and money. True False
Mekhanik [1.2K]

The correct answer is true


5 0
3 years ago
The net increase or decrease in Retained Earnings for a period is recorded by closing entries.
eimsori [14]

Answer:

True

Explanation:

The net revenue or net loss would be expressed in the retained earnings account statement.

The computation of the ending retained earning balance is shown below:

The ending balance of retained earning = Opening balance of retained earnings + net income or net loss - cash dividend paid

These are the closing entries which are shown below:

Income summary A/c Dr

      To Retained earning

(Being the difference is credited to retained earning)

Retained earnings A/c Dr

       To Cash Dividend A/c

(Being dividend account is closed)

8 0
3 years ago
Determine which of the statements below explain what an accounting system does. (Check all that apply.) Multiple select question
AVprozaik [17]

Answer:

I. It helps users to be better informed, so they can evaluate the risks and returns of different business decisions.

II. It collects and processes data from transactions and events.

III. It organizes financial information into useful reports.

IV. It communicates financial information to decision makers.

Explanation:

Financial accounting is an accounting technique used for analyzing, summarizing and reporting of financial transactions like sales costs, purchase costs, payables and receivables of an organization using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP) and financial accounting standards board (FASB).

The fundamental functions of an accounting system includes;

I. It helps users to be better informed, so they can evaluate the risks and returns of different business decisions.

II. It collects and processes data from transactions and events.

III. It organizes financial information into useful reports.

IV. It communicates financial information to decision makers.

4 0
3 years ago
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