The intersection of a column and row. Answer 1 The amount creditors expect you to pay in the future Answer 2 A set of rules used as a basis for financial reporting Answer 3 The asset was valued at the amount it would cost to replace the asset Answer 4   Requires the revenues generated by providing care for a patient be recorded in the same accounting period as the expenses incurred to provide that care.   Answer 5 Is a one-year period that companies use for financial reporting Answer 6 The value of what was given up to acquire the item. Answer 7 The accounting system that records revenue when cash is received from customers and expenses when cash is paid Answer 8 A valuation method based on the amount received if an asset was sold net any cost related to the sale            Answer 9   A one-year accounting period ends that occurs at December 31.   Answer 10 Assets having physical substance or form. Answer 11 The unit for which we wish to account. Answer 12 Complete the table with the following : cash, fiscal,  net realizable value, tangible, current liability, cost, matching, replacement cost, liabilities, current assets,GAAP, cell, a calendar, an entity

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The intersection of a column and row.

Answer 1

The amount creditors expect you to pay in the future

Answer 2

A set of rules used as a basis for financial reporting

Answer 3

The asset was valued at the amount it would cost to replace the asset

Answer 4

 

Requires the revenues generated by providing care for a patient be recorded in the same accounting period as the expenses incurred to provide that care.


 

Answer 5

Is a one-year period that companies use for financial reporting

Answer 6

The value of what was given up to acquire the item.

Answer 7

The accounting system that records revenue when cash is received from customers and expenses when cash is paid

Answer 8

A valuation method based on the amount received if an asset was sold net any cost related to the sale           

Answer 9

 

A one-year accounting period ends that occurs at December 31.


 

Answer 10

Assets having physical substance or form.

Answer 11

The unit for which we wish to account.

Answer 12

Complete the table with the following : cash, fiscal,  net realizable value, tangible, current liability, cost, matching, replacement cost, liabilities, current assets,GAAP, cell, a calendar, an entity

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