Th e assumption that the eff ects of transactions and other events are recognized when they occur, not when the cash fl ows occur, is called: A . relevance.

Q: cash book

A: At the time of Dissolution , all Accounts of balance sheet transferred to Realisation Account except…

Q: What is the normal balance of cash? Group of answer choices This is an ambiguous question debit…

A: Cash is a legal tender that can be used easily to buy something. It is the most liquid asset in the…

Q: 1. The statement of cash flows classifies cash receipts and cash payments into two categories:…

A: Cash flow statement is a statement showing the inflow and outflow of cash in an organization. It is…

Q: Subject Date: Receive Cash Erom Customers in settemer f debks owed by them

A: Required  Journal Entry

Q: Define cash equivalents, and explain methods of controlling cash, including bank reconciliations.

A: Solution- Cash equivalents are investments securities that are meant for short-term investing; they…

Q: Define the following concepts? a. Petty cash funds. b. Escrow payment. c. Chart of accounts.

A: a. Petty cash funds:A petty cash fund is a special fund operated by a petty cash custodian to pay…

Q: use the cash balance per ledger to be greater tl ual by charging an amount to the depositor's acce…

A: Bank reconciliation is a statement made in order to ascertain the reasons for the difference between…

Q: According to PAS 1, the line item "cash and cash equivalents" should always be presented first in…

A: Cash and Cash Equivalents-:Cash and cash equivalents stand for the most liquid current assets for…

Q: Transactions that involve merely purchases or sales of cash equivalents generally are not reported…

A: Generalizations refers to the broad statement which is applied to large group of people.

Q: accounts are not transferrec to Realization Account? O a. Bank overdraft O b. Reserve fund O c.…

A: Option D is the correct Answer i.e All Options are Correct.

Q: rue or false. a decrease in cash assets is a debit?

A: Asset represents resources of the entity that are used in the process of revenue generation of…

Q: Which of the following is a means of using receivables to obtain immediate cash?  a. Factoring b.…

A: Solution: "All of the above"  are means of using receivables to obtain immediate cash.

Q: Explain the difference between the “transaction motive” and the “precautionary motive” for holding…

A: Firms have motives for holding cash. This is because the timing of cash in fow and outflow does not…

Q: cash and accrual accounting based o

A: The FIVE difference between cash and accrual accounting are as follows:   1. recognition of revenue:…

Q: e cash T-account?

A: The credit side of cash T-account represents payments made by cash.

Q: The beginning balance of the cash and cash equivalents will be deducted from the increase or…

A: The cash flow statement is prepared to record the cash flow from various activities during the…

Q: What are the different risks associated in the accounting of cash

A: The element of risk arises in each and every area and how well we can minimise or reduce the risk is…

Q: Using an example, compare and contrast physical delivery and cash settlement?

A: The two most prevalent stock derivatives traded on a stock market are futures and options. These are…

Q: The practice of realizing cash from accounts receivable before its maturity date is widespread.…

A: SOLUTION- Accounts Receivable (AR) is the proceeds or payment which the company will receive from…

Q: List two types of transactions that would receive different accounting treatment using (a) strict…

A: (a) Under strict cash-basis accounting, incomes and expenses are recognized in the period it was…

Q: What is the primary difference between cash and accrual accounting?

A: The business revenues and expenses can be recorded on the basis of cash or accrual.

Q: Question 1: Part į Explain the following: Define the matching and realization principle and Briefly…

A: Accounting principal or standards are the principles and rules that organizations should follow when…

Q: Required Identify whlch of the following Items are added to or subtracted from the unadjusted book…

A: Bank Reconciliation: It is a statement to reconcile the balances as per the bank statements provided…

Q: Separation of duties is important for internal control of cash receipts. cash payments. Neither of…

A: Internal control: Internal control is a policy or procedures enforced by management in an…

Q: If the indirect method is used to calculate net cash provided by operating activities, adecrease in…

A: Cash flow statement: To know the cash position in the organisation statement of cash flows is…

Q: escribe two exceptions to this generalization. What is the essential characteristic of the…

A: A cash flow statement refers to the statement that provides accurate data which are related to…

Q: (a) How are cash equivalents reported in the financial statements? (b) What are some examples of…

A:

Q: True (t) or False (f) ______ Certificates of deposit are usually classified as cash on the balance…

A: A certificate of deposit (CD) is referred as a savings account that holds a fixed amount of money…

Q: Which of the following is an example of a fi nancing activity on the cash fl ow statement under US…

A: Cash flow from financing activities represents the cash inflows and outflows related to the capital…

Q: Define restricted cash and indicate how it should bereported on the balance sheet

A: Balance sheet: Balance Sheet is one of the financial statements that summarize the assets, the…

Q: The cash account in the company's ledger is a(n) Oa. liability with a normal debit balance Ob. asset…

A: Cash account: Cash account is a account in which all the transaction occured in cash are recorded…

Q: Define Restricted Cash and Compensating Balances.

A: Restricted Cash: Restricted cash is defined as cash which is held for a certain purpose in future…

Q: Which of the following statements about cash received prior to the recognition of revenue in the fi…

A: When cash received before revenue recognition then it will be treated as the liability rather than…

Q: True (t) or False (f) ______ Savings accounts are usually classified as cash on the balance sheet.

A: Savings accounts are considered as cash equivalents item such as easily convertible into cash.

Q: How do you calculate an overstatement or understatement of cash recorded? *     A. recorded amount

A: Overstatement or understatement of cash recorded refers to a situation where amount recorded is more…

Q: Which of the following statements correctly describes the reporting of cash? O Restricted cash funds…

A: Introduction: Cash is classified as a current asset on the balance sheet, so it is increased on the…

Q: The cash account in the company's ledger is a(n) a. liability with a normal debit balance b. asset…

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: A deferral refers to an event:

A: Answer  A deferral refers to an event

Q: Which of the following is not a motive for holding cash? A -precautionary motive B- transaction…

A: Cash is the current assets to the company which is hold for the purpose of reserving or completing…

Q: Which of the following is most likely to appear in the operating section of a cash fl ow statement…

A: Cash flows statements are financial statements which provides information about the cash inflows…

Q: Which of the folowing is considereda financing activity when preparing the statement of cash flows?…

A: Introduction: Statement of cash flows: All cash in and out flows are shown in Cash flow statements.…

Q: Reasons ot Motives of holding cash

A: Holding Cash: When a person or organisation holds cash, it refers to money that is kept immediately…

Q: Indicate how each of the items below should be reported using the following classifications: (a)…

A: Cash and Cash equivalent In the classified balance sheet the account details of cash and cash…

Q: attemntine determine the nount of cash and

A: Solution:   Calculation of cash balance $ 1 Commercial savings account 6,00,000 1 Commercial…

Q: ME8 Which of the following entries for goods sold by cash is correct? a) Cash Dr, AR Cr b) AR Dr,…

A: Hi student Since there are multiple questions, we will answer only first question.