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Which of the following is not a characteristic of the cost principle? Objectivity. Subjectivity. Verifiability. Reliability.
the answer is b. subjectivity
Expert answered|Threshold|Points 352|
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Asked 10/10/2011 6:36:56 PM
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The accounting equation for Gudgeyes Enterprises is as follows: Assets Liabilities Owner's Equity $120,000 = $60,000 + $60,000 If Gudgeyes purchases office equipment on account for $12,000, the accounting equation will change to Assets Liabilities Owner's Equity $120,000 = $60,000 + $60,000 $132,000 = $66,000 + $66,000 $132,000 = $60,000 + $72,000 ...
Weegy: If Gudgeyes purchases office equipment on account for $12,000, the accounting equation will change to $132,000 = $72,000 + $60,000 Assets (office equipment) increase by $12,000. [ Liabilities (accounts payable) increase by $12,000 and Owners equity remains the same. ] (More)
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Asked 10/10/2011 6:40:55 PM
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The accounting equation for Gudgeyes Enterprises is as follows: Assets Liabilities Owner's Equity $120,000 = $60,000 + $60,000 If Gudgeyes purchases office equipment on account for $12,000, the accounting equation will change to Assets Liabilities Owner's Equity $120,000 = $60,000 + $60,000 $132,000 = $66,000 + $66,000 $132,000 = $60,000 + $72,000 ...
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Updated 10/10/2011 7:04:45 PM
1 Answer/Comment
If Gudgeyes purchases office equipment on account for $12,000, the accounting equation will change to $132,000 = $72,000 + $60,000 Assets (office equipment) increase by $12,000. Liabilities (accounts payable) increase by $12,000 and Owners equity remains the same.
Added 10/10/2011 7:04:45 PM
If supplies that have been purchased are used in the course of business, then an asset will increase. owner's equity will increase. a liability will increase. owner's equity will decrease
Weegy: what is the question? User: Net income results when Revenues Liabilities. Revenues > Expenses. Revenues = Expenses. Weegy: Revenues > Expenses (More)
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Asked 10/10/2011 6:59:58 PM
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