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Question 4. 4. Adjusting entries apply to ___________________________. Question 5. 5. Depreciation is _________________________________________. Question 6. 6. Which one of the following is not one of the seven steps in the accounting cycle? Question 7. 7. All of the following would be included as cash or cash equivalents except ____________. Question 8. 8. Which of the following is not considered a control feature for cash receipts? Question 9. 9. Which of the following is not considered a control feature for cash disbursements? Question 10. 10. When looking at a firm’s balance sheet if the accounts receivable account is followed by an account that reads “less Allowance for Uncollectible Accounts” a reader can assume______ Part 2

Question 1. 1. Cash received from a customer in advance of an order being shipped is considered revenue by the firm. Question 2. 2. If no cash is received then revenue cannot be recognized based on the matching principle. Question 3. 3. The cash account will never have an adjusting entry when closing the books.

ACC 205 OUTLET Education on your terms / acc205outlet.com  

FOR MORE CLASSES VISIT www.acc205outlet.com Final Paper Focus of the Final Paper Write a five to seven page financial statement analysis o...

ACC 205 OUTLET Education on your terms / acc205outlet.com  

FOR MORE CLASSES VISIT www.acc205outlet.com Final Paper Focus of the Final Paper Write a five to seven page financial statement analysis o...

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