Which of the following journals is called an all-purpose journal? Please explain with full explanation. a. general journal b. purchases journal c. revenue journal d. accounting journal

Q: hat are the accounting information needed by: a. Internal users b. External users

A: Accounting Information:- This is that information that is required by both external and internal…

Q: What is a Entrie Journal in accounting

A: Accounting refers to the process of recording, classifying, and summarizing business transactions of…

Q: Accounting plays an important role by providing answers to questions faced by the users of…

A: Accounting is the process of recording of transactions, summarising it and posting it to obtain…

Q: information would include ........ .

A: External users are people outsidebusiness entity who use accounting information.external users are…

Q: Choose the term or phrase below that best completes each statement.a. Accounting c. Recording e.…

A: Accrual basis of accounting: Accrual basis of accounting refers to recognizing the expenses and…

Q: users of accounting information

A: The financial information is presented in the financial statement of the company that reflect the…

Q: Differentiate the following terms. a. Bookkeeping and financial accounting.

A: a) The terms 'Bookkeeping and accounting both are part of the accounting system which starts with…

Q: What do the decisions based on accounting information include?

A: Accounting information is the collection and processing of the business transaction to conclude the…

Q: how to make  accounting eqution grid?

A: Accounting equation says that total assets should always be equals to total liabilities and…

Q: What is the first step in the accounting cycle and what role do source documents fulfill in this…

A: Accounting cycle is the process of recording, classifying, summarising and analysing accounting…

Q: The general journal organizes accounting information in:

A: In any business entity , whenever any event occurs or a transaction takes place it is recorded in a…

Q: Accounting being an information system follows basic accounting concepts or principles also known as…

A: Notes: “Since you have asked multiple questions, we will solve the first question for you. If you…

Q: What type of internal and external accounting reports will you use in the process of making…

A: Internal accounting reports are managerial reports which are generated for use by managers at…

Q: Answer the following multiple-choice questions. Accounting standard-setters use the following…

A: Accounting standards are used for financial reporting. These specifies how an accounting transaction…

Q: Required: Journalize the above business transactions in general journal form.

A: Journal entries recording is the first step in accounting cycle process, under which atleast one…

Q: Define accounting and discuss the many applications of accounting information.

A: Accounting: Accounting is a system or process that collects and organizes economic transactions,…

Q: The summarizes all of the journal entries which forms the basis for the financial statements.…

A: Ledgers are considered a statement that summarizes all the journal entries in a good form that helps…

Q: An accounting policy is

A: Accounting policy are not judgement applied to record a transaction. Accounting estimates are…

Q: which internal users need the accounting information

A: Accounting information data is the data that emerges from business exchanges. When distinguished,…

Q: Users of accounting information can be identified as internal and external users. List two of users…

A: The 4 financial statement A balance sheet is a financial statement that represents the financial…

Q: 1. Name the transactions or events which can be considered "IDENTIFYING" based on the definition of…

A: "IDENTIFYING" means determining the transactions that are financial in nature and needs to be…

Q: how you will use accounting information both as an internal and an external user?

A: The accounting is a process to classify and record the business transactions and prepare the…

Q: 1. Answer the following questions related to the source document on the next page. A. What business…

A: The original document containing the specifics of a commercial transaction is referred to as a…

Q: Identify and discuss several professional organizations that play important roles in preparing…

A: The organizations listed below formulate and execute policies for the interest of investors in the…

Q: Name some users of accounting information.

A: Accounting is defined as an information system that reports the financial performance of a business…

Q: List the DPSystems accounting system's account number and category charts

A: The DP accounting system account numbers and primary categories are listed as follows: A list of…

Q: Who are the èxternal user's of accounting information

A: The accounting information is used by the external user and internal user. The External users are…

Q: State two users of accounting information and what type of information they need.

A: There are various users of accounting information.

Q: write an essay about accounting information system

A: Introduction:- Accounting information system used to collect and store all information related to…

Q: Identify TWO external consumers of accounting information and explain how that accounting…

A: Introduction: The term "financial statement" refers to any statement, such as an income statement, a…

Q: Journal is the third step of accounting. Describe about the transaction in the journal and its…

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Q: The IASB has created accounting standards that are: Select one: a. Rules-based. b.…

A: IASB stands for International Accounting Standard Board.

Q: Journalize the following transactions in the accounts of BBH inc.,

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: W

A: According to AICPA, "accounting is an art of recording, classifying, summarizing in a significant…

Q: Create a business transaction journal using these following transactions.

A: Journal Entry is the most important part of the accounting as its a basis for further preparation of…

Q: Define accounting and describe the different uses of accounting information

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: Identify four kinds of external users and describe how they use accounting information.

A: External users of accounting information are those users which are from outside the organization and…

Q: Classify the following activities as part of the identifying (I), recording (R), or communicating…

A: Identifying function: helps the organization to select from its business activities, the…

Q: What type of journal entry system is applied when accounting follows IFRS?

A:

Q: This is a question from the Accounting Information Systems by James Hall. What is a source document?…

A: Source Document is considered as a supporting document for all the accounting transactions which…

Q: List the four special journals often used in a manual accounting information system. What types of…

A: Special Journal: A special journal is an accounting journal used by an enterprise to record a…

Q: Choose one topic from accounting and write a report on it.

A: Accounting is that the method of recording money transactions concerning the business. The…

Q: What group or organization is/was responsible for the issuance of Accounting Research Bulletins?

A: Accounting Research Bulletins are the documents on Various problems and challenges faced in the…