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excess paper is not allowed) by chction: For each element of SCI, tell whether it belongs to service, or merchandising business in necking on the appropriate column after each number. Copy the format provided in next page n another sheet of paper and write your answer there.

excess paper is not allowed) by chction: For each element of SCI, tell whether it belongs to service, or merchandising business in necking on the appropriate column after each number. Copy the format provided in next page n another sheet of paper and write your answer there.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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al your answers in this activity sheet only, you can use behind if needed, is of Qua tou uction: For each element of SCI, tell whether it belongs to service, or merchandising business excess paper is not allowed) in onecking on the appropriate column after each number. Copy the format provided in next page another sheet of paper and write your answer there. of in Element Of SCI Service Business Merchandising Business 1. Sales discount 2. Sales returns 3. Еxpenses 4. Cost of Goods Sold 5. Beginning Inventory 6. Net Income 7. Purchase returns 8. Net Purchases 9. Goods Available for Sale 10. Revenues 11. Selling Expenses 12. Purchases 13. Sales 14. Advertising Expenses 15. Utility Expenses Instructions: Answer the questions below on what you have understand in module. 1. Is it possible for a company to earn without having cash and lose even with lots of cash? Why? Why not? 2. As a small business owner, Mr. Arvin doesn't usually account for his revenues and expenses as long as he sees that cash is coming in. What will you tell Mr. Arvin to encourage him to utilize an SCI?
Transcribed Image Text:al your answers in this activity sheet only, you can use behind if needed, is of Qua tou uction: For each element of SCI, tell whether it belongs to service, or merchandising business excess paper is not allowed) in onecking on the appropriate column after each number. Copy the format provided in next page another sheet of paper and write your answer there. of in Element Of SCI Service Business Merchandising Business 1. Sales discount 2. Sales returns 3. Еxpenses 4. Cost of Goods Sold 5. Beginning Inventory 6. Net Income 7. Purchase returns 8. Net Purchases 9. Goods Available for Sale 10. Revenues 11. Selling Expenses 12. Purchases 13. Sales 14. Advertising Expenses 15. Utility Expenses Instructions: Answer the questions below on what you have understand in module. 1. Is it possible for a company to earn without having cash and lose even with lots of cash? Why? Why not? 2. As a small business owner, Mr. Arvin doesn't usually account for his revenues and expenses as long as he sees that cash is coming in. What will you tell Mr. Arvin to encourage him to utilize an SCI?
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