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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
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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
This answer has been added to the Weegy Knowledgebase
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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