Put the correct word next to the answer that best describes the following :scheduling, cash, coding, accrual, FIFO, accounts payable, LIFO, point of service, book value, perpetualOften called trade credit. It assumes that payment is made when due.Answer 1It is assumed that the last units acquired are the first ones used.Answer 2 An asset original cost less the amount of accumulated depreciation. Answer 3This is the beginning of the revenue cycleAnswer 4The type of accounting used by health care facilitiesAnswer 5 When the patient shows up for care. Answer 6 The organization always knows how much inventory it has on hand Answer 7 The translation of services provided into billable charges. Answer 8 It is assumed that the units required earlier are used before units acquires later Answer 9The major source of financing for an organizationAnswer 10

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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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Put the correct word next to the answer that best describes the following :

scheduling, cash, coding, accrual, FIFO, accounts payable, LIFO, point of service, book value, perpetual

Often called trade credit. It assumes that payment is made when due.	Answer 1
It is assumed that the last units acquired are the first ones used.	Answer 2
An asset original cost less the amount of accumulated depreciation.	Answer 3
This is the beginning of the revenue cycle	Answer 4
The type of accounting used by health care facilities	Answer 5
When the patient shows up for care.	Answer 6
The organization always knows how much inventory it has on hand	Answer 7
The translation of services provided into billable charges.	Answer 8
It is assumed that the units required earlier are used before units acquires later	Answer 9
The major source of financing for an organization	Answer 10

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