How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Manal Elkhoshkhany Your Own Question

Manal Elkhoshkhany
Manal Elkhoshkhany, Tutor
Category: Homework
Satisfied Customers: 9819
Experience:  More than 5000 online tutoring sessions.
3708793
Type Your Homework Question Here...
Manal Elkhoshkhany is online now
A new question is answered every 9 seconds

1. The ______ basis of accounting measurement recognizes revenues

Resolved Question:

1. The ______ basis of accounting measurement recognizes revenues when resources are created as part of an organization ís operating activities.
       cash
       financing
       investing
       accrual


2. The accrual basis of accounting is used because
       companies may create or use resources in a different period than when they receive or pay the cash associated with those resources
       it requires less time and effort than cash basis
       it recognizes the collection and payment of cash
       revenues are not recognized throughout the year


3. Which of the following is considered a liability?
       interest revenue
       unearned revenue
       sales revenue
       rent revenue


4. Office supplies of $900 were purchased on account to be used in future months. One part of the accounting entry to record this event in the accounting system would be to:
       increase assets by $900
       decrease assets by $900
       increase expenses by $900
Submitted: 7 years ago.
Category: Homework
Expert:  Manal Elkhoshkhany replied 7 years ago.
THIS ANSWER IS LOCKED!

You need to spend $3 to view this post. Add Funds to your account and buy credits.
Manal Elkhoshkhany and 7 other Homework Specialists are ready to help you