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DanielleElmas [232]
3 years ago
10

THESE ARE TRUE OR FALSE!! PLEASE HELP ASAP!!

Business
1 answer:
Mademuasel [1]3 years ago
3 0

Answer:

1. FALSE

2. TRUE

3. FALSE

4. FALSE

5. TRUE (I think)

6. TRUE

7. TRUE

8. TRUE

9. FALSE

10. FALSE

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Match each of the following scenarios with the accounting principle or accounting assumption that it best illustrates.a. Several
Orlov [11]

Answer:

Key S - Scenario

      A - Accounting Principle or Assumption

S

Several years after Thomas Company purchased new office equipment, the company’s accounting records still show the original purchase price.

A

Historical cost principle

S

The home of Rob Elliot, the owner of GGE Enterprises Inc., is not listed among the company’s assets.

A

Business entity assumption

S

Despite several years of falling sales, Thomas Company continues to forecast sales and make strategic plans to raise revenues and cut expenses.

A

Going concern assumption

S

Thomas records expenses incurred to produce the sales for the month.

A

Expense recognition principle

S

GGE Enterprises records a deposit received from a customer for work to be performed later in the month. The customer is billed for the remaining amount after the work is complete, and the customer’s payment is recorded.

A

Revenue recognition principle

S

Thomas Company provides earnings information to investors at the end of every quarter.

A

Time period assumption

S

The accounting records of Thomas Company are in dollars, not euros, although the Ohio-based company is owned by a German firm.

A

Monetary unit assumption

Explanation:

5 0
3 years ago
Were all loan proceeds used to purchase, build, or improve the home secured by this loan?.
8_murik_8 [283]

A loan is usually gotten from a financial institution to solve a financial emergency which was unplanned for.

<h3>What is a Loan?</h3>

This refers to the obtaining of money from a financial institution and a formal agreement is made for the repayment of the money after a given period of time and with interest.

With this in mind, we can see that loan proceeds can be used to:

  • Buy a house
  • Go on a trip, etc

Please note that your question is incomplete so I gave you a general overview to help you get better understanding of the concept.

Read more about loans ere:

brainly.com/question/25239160

7 0
2 years ago
At Bargain Electronics, it costs $29 per unit ($17 variable and $12 fixed) to make an MP3 player that normally sells for $53. A
algol13

Answer and Explanation:

The computation is shown below;

Particulars       Reject Order      Accept Order       Net Income

Revenues               $0                      $126,280        $126,280

                                                    (4,510 units × $28)

Variable manufacturing $0              $76,670          -$76,670

                                                  (4,510 units × $17)

Shipping                   $0                    $18,040            -$18,040

                                                  (4,510 units × $4)

Net Income              $0                    $31,570              $31,570

Hence, the net income is in positive value so the special order would be accepted

8 0
3 years ago
Albee Township’s fiscal year ends on June 30. Albee uses encumbrance accounting. On April 5, year 1, an approved $1,000 purchase
Mice21 [21]

Answer:

Encumbrances $1000

Reserved for encumbraces $1000

Explanation:

Encumbrance is in the debit because is the money that we have destined for the purchase and  since we have to get the money from our funds Reserved for encumbrances is in the credit.

5 0
3 years ago
Which ad format is available on a Smart Shopping campaign but not a Standard Shopping campaign? certification
Mrac [35]

Certification campaign is the ad format is available on a Smart Shopping campaign but not a Standard Shopping campaign.

<h3>What is certification campaign?</h3>

This certification campaign serves as a subtype campaign that combines Standard Shopping and display remarketing campaigns.

This type of.l campaign uses automated bidding and ad placement to promote your products.

Learn more about certification campaign at;

brainly.com/question/9917942

5 0
1 year ago
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