Accounting: Accounting is the technique of recording the financial events and transactions that occur in a business. Accounting is necessary to see the present as well as the future position of an organization. Services: Service means a kind of activity done by an organization to earn income. Service is intangible in nature and cannot be touched. To receive a service, one has to pay the amount charged by the service provider. Example of services are, a service provided by doctor, accountant and teacher. To identify: Reason for accounting described as service activity.

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Answer 1

Question

Chapter 1, Problem 9DQ

To determine

Accounting: Accounting is the technique of recording the financial events and transactions that occur in a business. Accounting is necessary to see the present as well as the future position of an organization.

Services: Service means a kind of activity done by an organization to earn income. Service is intangible in nature and cannot be touched. To receive a service, one has to pay the amount charged by the service provider. Example of services are, a service provided by doctor, accountant and teacher.

To identify: Reason for accounting described as service activity.

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Answer 2

Question

Chapter 1, Problem 9DQ

To determine

Accounting: Accounting is the technique of recording the financial events and transactions that occur in a business. Accounting is necessary to see the present as well as the future position of an organization.

Services: Service means a kind of activity done by an organization to earn income. Service is intangible in nature and cannot be touched. To receive a service, one has to pay the amount charged by the service provider. Example of services are, a service provided by doctor, accountant and teacher.

To identify: Reason for accounting described as service activity.

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Answer 3

Question

Chapter 1, Problem 9DQ

To determine

Accounting: Accounting is the technique of recording the financial events and transactions that occur in a business. Accounting is necessary to see the present as well as the future position of an organization.

Services: Service means a kind of activity done by an organization to earn income. Service is intangible in nature and cannot be touched. To receive a service, one has to pay the amount charged by the service provider. Example of services are, a service provided by doctor, accountant and teacher.

To identify: Reason for accounting described as service activity.

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Answer 4

Question

Chapter 1, Problem 9DQ

To determine

Accounting: Accounting is the technique of recording the financial events and transactions that occur in a business. Accounting is necessary to see the present as well as the future position of an organization.

Services: Service means a kind of activity done by an organization to earn income. Service is intangible in nature and cannot be touched. To receive a service, one has to pay the amount charged by the service provider. Example of services are, a service provided by doctor, accountant and teacher.

To identify: Reason for accounting described as service activity.

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Answer 5

Chapter 1, Problem 9DQ

To determine

Accounting: Accounting is the technique of recording the financial events and transactions that occur in a business. Accounting is necessary to see the present as well as the future position of an organization.

Services: Service means a kind of activity done by an organization to earn income. Service is intangible in nature and cannot be touched. To receive a service, one has to pay the amount charged by the service provider. Example of services are, a service provided by doctor, accountant and teacher.

To identify: Reason for accounting described as service activity.

Answer 6

Chapter 1, Problem 9DQ

To determine

Accounting: Accounting is the technique of recording the financial events and transactions that occur in a business. Accounting is necessary to see the present as well as the future position of an organization.

Services: Service means a kind of activity done by an organization to earn income. Service is intangible in nature and cannot be touched. To receive a service, one has to pay the amount charged by the service provider. Example of services are, a service provided by doctor, accountant and teacher.

To identify: Reason for accounting described as service activity.

Answer 7

Chapter 1, Problem 9DQ

To determine

Accounting: Accounting is the technique of recording the financial events and transactions that occur in a business. Accounting is necessary to see the present as well as the future position of an organization.

Services: Service means a kind of activity done by an organization to earn income. Service is intangible in nature and cannot be touched. To receive a service, one has to pay the amount charged by the service provider. Example of services are, a service provided by doctor, accountant and teacher.

To identify: Reason for accounting described as service activity.

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 1 - Prob. 1MCQ Ch. 1 - Prob. 2MCQ Ch. 1 - If the assets of a company increase by $100,000...Ch. 1 - Brunswick borrows $50,000 cash from Third National...Ch. 1 - Geek Squad performs services for a customer and...Ch. 1 - Prob. 1DQ Ch. 1 - Prob. 2DQ Ch. 1 - Identify four kinds of external users and describe...Ch. 1 - Prob. 4DQ Ch. 1 - Prob. 5DQ

Solution Summary: The author explains that accounting is the technique of recording the financial events and transactions that occur in a business.

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