Question
In: Accounting
An account is a part of the financial information system and is described by all except...
An account is a part of the financial information system and is described by all except which one of the following? An account may be part of a manual or a computerized accounting system. An account has a title. An account is a source document. An account has a debit and credit side.
Solutions
Expert Solution
Answer: An account is a source document.
A source document is an original record which contains the details that support a transaction that will be (or has been) recorded in an accounting system. In other words, it’s a physical or electronic document that lists the details of a transaction and is used by the accounts department to recognize accounting transactions through journal entries.
Examples of source documents include sales receipts, checks, purchase orders, invoices, bank statements,time cards etc.
ekkarill92 answered 1 year agoRelated Solutions
Semistrong market efficiency is described in all of the following except:
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following except:a. ln a semistrong market, efforts to analyze financial market
and financial statement data are futile.b.An investor cannot achieve positive risk-adjusted returns on
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Part 2 -McCubbin Company uses the periodic inventory system to account for inventories. Information related to...
Part 2 -McCubbin Company uses the periodic inventory system to
account for inventories. Information related to McCubbin Company's
inventory at October 31 is given below:
October
1 Beginning
inventory
300 units @ $10.00
= $
3,000
8
Purchase
900 units @ $10.40
=
9,360
16
Purchase
500 units @ $10.80
=
5,400
24
Purchase
300 units @ $11.60
=
3,480
Total units and
cost
2,000
units
$21,240
Instructions
1. Show calculations
to value the ending...
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All the following are part of characteristics of Venture Capital
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VC is a financial intermediary
VC only invests in private companies;
c. VC invests to fund the external growth
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d.
VC’s primary goal is to maximize its financial return by
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e. VC takes an active role in monitoring and helping the companies
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According to the textbook by Metrick and...
All the following represent characteristics of the adaptive immune system EXCEPT: all the above is true,...
All the following represent characteristics of the adaptive
immune system EXCEPT:
all the above is true, no exceptions
secondary response characterized by rapid destruction of the
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recognition by pattern recognition receptors
development of memory response
recognition of individual antigens and epitopes
Intravenous immunoglobin therapy is being used as a treatment
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_____ The conducting zone of the respiratory system
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Assume all of the same facts as in Part I, except that Soccer Inc. uses the...
Assume all of the same facts as in Part I, except that Soccer
Inc. uses the percent of receivables or "aging of receivables"
method to determine bad debt expense. I will repeat the facts for
your convenience: Soccer Inc. had credit sales of $775,000 during
2020. At the end of 2020, the unadjusted ending balance in Soccer’s
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Genetic information is known to be passed in all of the following directions, except: RNA to...
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QUESTION 40 All of the following are part of the Social-Ecological Model except for? Organizational Individual...
QUESTION 40
All of the following are part of the Social-Ecological Model
except for?
Organizational
Individual
Public Policy
Nutrition Panel
2 points
QUESTION 41
Health claims such as “reduces heart disease” must be evaluated
by the __________ before it may appear on packaging.
World Health Organization (WHO)
US Department of Agriculture (USDA)
Health and Human Services (HHS)
Food and Drug Administration (FDA)
2 points
QUESTION 42
Which group is responsible for preparing guidelines for food
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Royal Corp’s financial information (in millions, except for Dividends) for Problems 2 and 3:  
Royal Corp’s financial information (in
millions, except for Dividends) for Problems 2 and
3:
2019
2018
Accounts
Payable
$ 7,000
$ 6,780
Accounts
Receivable
5,000
4,685
Additional Paid-in
Capital
4,000
4,000
Cash
8,577
5,654
Common
Stock
3,107
3,107
Cost of Goods
Sold
48,464
47,594
Depreciation
1,315
1,244
Dividends per
share
1.53
1.28
Goodwill
18,051
19,121
Interest
Expense
1,200
1,100
Inventory
8,871 ...
Royal Corp’s financial information (in millions, except for Dividends) for Problems 2 and 3:  
Royal Corp’s financial information (in
millions, except for Dividends) for Problems 2 and
3:
2019
2018
Accounts
Payable
$ 7,000
$ 6,780
Accounts
Receivable
5,000
4,685
Additional Paid-in
Capital
4,000
4,000
Cash
8,577
5,654
Common
Stock
3,107
3,107
Cost of Goods
Sold
48,464
47,594
Depreciation
1,315
1,244
Dividends per
share
1.53
1.28
Goodwill
18,051
19,121
Interest
Expense
1,200
1,100
Inventory
8,871 ...
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