Put yes or no in front of each of the following statements: 1- () An inventory is the inventory of assets and liabilities in terms of quantity and peak 2- () The reducing premium represents a percentage of the net value of the fixed asset 3- () The imposition of the independence of the accounting unit states that the project has an independent legal personality over the personality of the owner 4- () One of the objectives of the inventory is to determine the real value of the liabilities and assets in the project 5- () Expenses paid in advance from other credit balances that appear on the right
Put yes or no in front of each of the following statements: 1- () An inventory is the inventory of assets and liabilities in terms of quantity and peak 2- () The reducing premium represents a percentage of the net value of the fixed asset 3- () The imposition of the independence of the accounting unit states that the project has an independent legal personality over the personality of the owner 4- () One of the objectives of the inventory is to determine the real value of the liabilities and assets in the project 5- () Expenses paid in advance from other credit balances that appear on the right
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Put yes or no in front of each of the following statements:
1- () An inventory is the inventory of assets and liabilities in terms of quantity and peak
2- () The reducing premium represents a percentage of the net value of the fixed asset
3- () The imposition of the independence of the accounting unit states that the project has an independent legal personality over the personality of the owner
4- () One of the objectives of the inventory is to determine the real value of the liabilities and assets in the project
5- () Expenses paid in advance from other credit balances that appear on the right side of the balance sheet
6- () The principle of prudence and caution stipulates that one must be careful not to record potential expenses, other than potential revenues
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