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RideAnS [48]
3 years ago
7

Under cash-basis accounting, if a company provides services to a customer in the current year but does not collect cash until th

e following year, the company should report the revenue in the current year.
A. True
B. False
Business
1 answer:
PIT_PIT [208]3 years ago
3 0

Answer:FALSE

Explanation:CASH BASED ACCOUNTING is an accounting that is considered only when the money payment is effected. It does not take in account cash which has not been received. In the financial statements it will only include cash received during the year or period under review. This makes it different from Accrual based accounting which also includes cash not yet received but are been expected.

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Education is the basic requirement for profession.Explain this statement​
True [87]

Answer:

The answer is below

Explanation:

Education is considered the basic requirement for the profession because, through education, people get to learn the basic knowledge required to perform a profession.

For example, a medical doctor or physician profession requires education in core biological science subjects such as microbiology, human anatomy, medical rehabilitation, dentistry, etc.

Education gives the professional the knowledge to anticipate, predict, and carry out the right solution to any problem that needs to be solved under his or her profession.

For example, a civil engineer needs education in architectural and engineering drawing to translates the drawing into reality or an actual project.

5 0
3 years ago
You are making a $120,000 investment and feel that a 20 percent rate of return is reasonable given the nature of the risks invol
Kryger [21]
200  i think but idk  my name is tytianna btw
7 0
3 years ago
A stock you own earned: $200, $500, $100, and $700 over the last four years. What was the mean annual gain in value over the fou
Sphinxa [80]

Answer:

$375

Explanation:

A stock you own earned: $200, $500, $100, and $700 over the last four years.

We need to find the annual gain in value over the four years. We know that,

Mean = sum of observations/total no. of observations

Put all the values,

M=\dfrac{200+500+100+700}{4}\\\\M=\$ 375

So, the required mean annual gain is equal to $375.

6 0
3 years ago
4. Suppose GDP is $15 million, private saving is $3 million, consumption is $8 million, public saving is $2 million. Assume the
Studentka2010 [4]
Answer in the file below .

3 0
3 years ago
In May 2013, Nikea recorded the transaction by debiting accounts receivable for $10,000 and crediting service revenues for $10,0
Zepler [3.9K]

Answer:

Please see explanation below.

Explanation:

Given the above, Accounts receivable is an asset. A debit in asset increases the asset. Also, crediting servicing revenue means an increase in equity because service revenue is also part of what makes an equity.

Therefore, debiting accounts receivables and crediting servicing revenue has increased both the assets and equity of Nikea inc.

5 0
3 years ago
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