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If long-term assets are not adjusted, expenses on the income statement (Points : 4) a.will be overstated. b.will be understated. c. will not be affected. d. may be either overstated or understated
If long-term assets are not adjusted, expenses on the income statement will be understated.
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Asked 1/11/2014 5:58:09 PM
Updated 1/11/2014 6:21:01 PM
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If long-term assets are not adjusted, expenses on the income statement will be understated.
Added 1/11/2014 6:21:01 PM
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Business papers, such as checks, invoices, receipts, letters, and memos, that furnish proof that a transaction has taken place are called (Points : 2) a. ledgers b. source documents c.debit entries d. accounts
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Updated 1/11/2014 6:52:29 PM
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Assets and liabilities are reported on (Points : 4) a. the balance sheet. b.c.the income statement. the statement of owner's equity. d. both the balance sheet and the income statement
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Updated 1/18/2014 4:52:17 PM
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Revenues and expenses are reported on the (Points : 4) a. balance sheet b. income statement c.statement of owner's equity
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Updated 1/18/2014 4:50:56 PM
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Revenues and expenses are reported on the INCOME STATEMENT.
Added 1/18/2014 4:50:56 PM
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Debits are used to record (Points : 4) a.increases in assets. b. increases in revenue. c.increases in owner's equity. d. increases in liabilities.
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Updated 1/11/2014 9:56:13 PM
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When an entry is made in the general journal, (Points : 4) a.assets should be listed first. b. accounts to be debited should be listed first. c. accounts to be increased should be listed first. d. accounts may be listed in any order
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Updated 3/6/2016 8:15:05 AM
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When an entry is made in the general journal, accounts to be debited should be listed first.
Added 3/6/2016 8:15:05 AM
This answer has been confirmed as correct and helpful.
Confirmed by Andrew. [3/6/2016 8:18:39 PM]
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