Investment is a [A] personal account [B] real account [C] nominal account [D] representative personal account

Q: Which of the following will you expect in an income statement?   Professional Fees Accounts…

A: The income statement includes all the revenue-related items and also all the expenses. Excess of…

Q: Describe how debits and credits affect assets, liabilities, and permanent owners’ equity accounts.

A: Asset: Assets refer to the resources owned by the business, which are utilized in the course of the…

Q: The standard accounting equation Assets - Liabilities = Owner's Equity allows the analysis of normal…

A: The question is related to True and False. The basic Accounting equation ia as under  Assets =…

Q: Element of financial position is a)  Cash. b)  Interest

A: This is a multiple-choice question for elements of financial statement in which we have to choose…

Q: Match each transaction to one of the following activities of an organization: financing activity(F),…

A: Three major categories of an organization’s business activities are as follows:  Financing,…

Q: Financial control is an element of a. Banking b. Finance c. Investments d. Accounting

A: The policies that are formulated for the purpose of controlling and using the financial resources…

Q: Thinking of revenue, expenses, and profits, where should an investor focus their attention on the…

A: Investors are the shareholders of the company, they receive dividend from the profit of the company

Q: According to which concept all the transactions are measurable in the terms of money are recorded in…

A: THE MONEY MEASUREMENT CONCEPTS STATES THAT ONLY THOSE ACCOUNTING TRANSACTIONS ARE RECORDED WHICH CAN…

Q: How to balance anHow do you balance a financial equation? accounting equation?

A: An accounting equation states the relationship between assets, liabilities and owner's equity.

Q: What kind of decisions are taken by the users of financial information?

A: Financial information helps the users to know their current amount they have, the amount they can…

Q: For each Account Type, identify the Financial Statement on which the account would appear (balance…

A: Note: As per general accounting rule, All the assets and expenses have the debit balance and all the…

Q: Which one of the following increases the current liabilities of a business entity? Select one: a.…

A: Liabilities are know as the financial obligation or financial debt which has to payable by the…

Q: Which of the following groups of accounts increase with a credit? Oa. assets, common stock, revenues…

A: Liabilities, common stock and revenues will be increased with a credit.

Q: State the normal balances for the following accounts: a. Assets b. Liabilities c. Capital d. Drawing…

A: Revenue: Revenue is money your business receives from its normal business activities. Expenses:…

Q: Classify each of the following accounts as an asset (A), liability (L), or equity (EQ) account. a.…

A: Introduction: Balance sheet: All Assets and liabilities are shown in Balance sheet. It tells the net…

Q: 18. Which one of the following items is classified as an investing activity? O A. Receipts of cash…

A: Investing activities refers to the purchase and sale of long-term assets and other business…

Q: Explain how the following financial products accommodate financial life cycle: a) insurance products…

A: Financial life cycle is a life cycle of an individual where an individual needs to accumulate,…

Q: Capital account is essentially a standard equity account with a standard credit balance from an…

A: In worldwide monetarism, the capital account is the component of the balance of payments that…

Q: Transactions that affect the debit and creditof the following: A. Cash B. Accounts Receivable C.…

A: A credit is often positioned on the correct aspect of AN entry. It will increase liability, revenue…

Q: Which of the following is not one of the major groups that make up the balance of payments? O a.…

A: A balance of payments account is an account of a corporation through which the corporation measures…

Q: It represents the cash or other assets withdrawn from the business by the owner for the personal…

A: Dividends are distribution of profits of a company to its shareholders. Hence, option C is wrong.

Q: A statement of owner's equity shows everything that affects the: a.Cash balance. b.liability account…

A: An equity statement – also referred to as a statement of owner’s equity or statement of changes in…

Q: What are the similarities and differences between household and business financial processes for…

A: Both households and businesses have incomes, incur expenses, have cash flows after maintenance…

Q: * ?A financial statement that summarizes company revenue and expenses is Income statement Cash flow…

A: A financial statement seems to be a statement that shows the profitability, consistency, and…

Q: Which of the following is not one of the major groups that make up the balance of payments? O a.…

A: Balance of payment is a statement which records all the transactions of monetary nature incurred…

Q: Using the transactions attached and the Unadjusted please create a Statement of Financial Position.

A: Introduction: Balance sheet: All Assets and liabilities are shown in Balance sheet. It tells the net…

Q: Gold is a savings or investment. Discuss. Money is a savings or investment tools. Discuss.

A: "Gold is a savings or investment" Gold is the most popular as an investment, of all the precious…

Q: Financial control is an element of O a. Investments O b. Banking O C. Accounting O d. Finance

A: Financial control means the control regarding the sources and utilization of funds/ finance.

Q: Identifying accounts Consider the following accounts: a. Notes Receivable b. Common Stock c. Prepaid…

A: Particulars Category a. Notes Receivable Assets b. Common Stock Equity c. Prepaid Insurance…

Q: Which among the following transactions would have n equity? O a. Drawings made by the owner O b.…

A: Solution: "Purchase of supplies on credit" would have no effect on Equity. This is because supplies…

Q: What type of account is Aaron Pickle, Capital?      Asset         Liability         Owner’s equity…

A: Lets understand the basics. When any business is started then whatever owners bring consider under…

Q: 8. Which one of the following is an item of owners' equity? Bank loan Suppliers' monetary claims…

A: Owners equity: Deducting liabilities from Assets called owners equity. Formula: Owners equity =…

Q: Which of these accounts is an asset? A. Common Stock B. Supplies C. Accounts Payable D. Fees Earned

A: Introduction: Assets: Asset means having Economic value to the resource. Assets are of two types: 1…

Q: Consider the following accounts, and determine if the account is an asset (A), a liability (L), or…

A: Lets understand the basics. Asset accounts are accounts on which company has a rights. It include…

Q: Classify each item as an asset, liability, or stockholders' equity. Accounts payable Cash Equipment…

A: Liabilities is amount payable which occurs due to past events or transactions.They can be current or…

Q: This refers to earnings derive from depositing or lending money, goods or credits. O Dividend income…

A: Lets understand all options. Dividend income is a income derived from the investing in any entity.…

Q: Which of the following transactions will increase an asset and increase a liability?a. Purchasing…

A: An assets is a resource having an economic value that generates positive cash flow in the future for…

Q: the "investment in branch" is an asset account in the branch's individual financial statements  a.…

A: A branch is an underlying department or division of an organization. The scattered distribution of…

Q: Financial control is an element of O a. Investments O b. Banking OC Accounting O d. Finance

A: Financial control refers to the control of a company's financial resources which are held by the…

Q: borrower’s personal investment in the operations of a business

A: The correct answer is b. Capital.

Q: Which of the following is a connector account? O Retained Earnings O Prepaid Rent O Common Stock O…

A: Connector accounts are those accounts which connects or joins two particular financial statements.

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.