Which one of the following is considered as a liability of a merchandising business and shown in the balance sheet?

Q: 11-Which of the following is an example of Expense of a Merchandise Business? a. Accounts receivable…

A: Expenses means the amount spent on running the business.

Q: Sohar Aluminium company wants to know the status of its assets and liabilities for future expansion…

A: Introduction: Accounting: Accounting is an art of recording, classifying, summarizing and…

Q: Which one of the following statements is true? Question 12Answer a. Fee income is the main source…

A: The objective of the question is to identify the correct statement among the given options related…

Q: The Effect of Accounting Methods on Financial Statements: Q: 1a) Explain how two identical companies…

A: The objective of the first part of the question is to understand how two identical companies using…

Q: the following transactions would require presentation of information separately in the face of the…

A: Extra ordinary items are those activities that are not normal during the business and do not occur…

Q: Generally accepted accounting principles (GAPP) require companies to use Select one: a. None of the…

A: GAAP (Generally Accepted Accounting Principles) are the set of rules and guidelines as prescribed by…

Q: Which of the following can be called the defender? | a. a share held by a company | b. a loan that a…

A: Under replacement analysis, any existing asset such as machinery or equipment, which is recently…

Q: 17 _____________are asset accounts applicable to all amounts owing, unsettled transactions, or…

A: Credit sales refer to the sale of goods to the customer, where the purchase price is not paid…

Q: -Which of the following will be not be called as Source Document of a Business?

A: Answer

Q: Factors that reflect the ability of a business to pay its debts and earn a reasonable amount of…

A: Financial ratios refer to the ratios which are calculated by comparing the two figures of the…

Q: Who among the following is responsible for the preparation of financial statements of a company? a.…

A: Introduction: Financial statements: All the financial related transactions are recorded in Financial…

Q: 16/Which one of the following expenses is incurred for the management of a business during the…

A: Administrative expenses are those expenses which are not related the production and manufacture of…

Q: The ability of a business to pay its debts is called a. a fiscal year. O b. solvency. O c.…

A: The ability of a business to meet its long-term debts is called solvency. If the solvency is high,…

Q: 12-Which of the following concept states that a business will continue its operations for the…

A: Accounting concepts: These are the set of rules and guidelines which every company must follow in…

Q: account group that does not have any physical assets

A: Option B is wrong because the assets in 25 Tangible Assets Account Group have physical existence.…

Q: Which of the following is not included in the assets of the business?

A: As per Accounting Asset is any resource owned by the enterprise or controlled by enterprise that…

Q: 17 - What is the name of the factors that cause an increase in the assets of the business as a…

A: Asset refers to any economic value resource for an individual, corporation or a country. It…

Q: please answer all parts please do not say about your guidelines in detail with explanation…

A: Effect of business transaction to financial statement The properties, obligations, revenue, costs,…

Q: 3. The financial statements of Mugs Company appear below: MUGS COMPANY Comparative Balance Sheet…

A: The return on assets (ROA) shows the percentage of how profitable a company's assets are in…

Q: Assets = Liabilities + (Owner, Capital - Owner, Withdrawal + Revenues - Expenses) 2.    What is a…

A: The question is related to Basic of Accounting and details are given.  Since you have posted a…

Q: Which of the following describes "the effects of a claims exchange transaction" on a company's…

A: An exchange transaction as the name suggests is the transaction in which there has been an exchange…

Q: 4. Using Full PFRS instead of SME’s PFRS in a business supposed to used SME’s PFRS was there a…

A: By using full PFRS instead of SME’s PFRS in business support to used SME’s PFRS considers as a…

Q: What are the accounts in which capital and debts are monitored and which pay the remainder? A) Cost…

A: What are the accounts in which capital and debts are monitored and which pay the remainder?

Q: According to the accrual accounting model, recognition of loss leads to decrease in a company’s net…

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Which of the following statement best describes the accounting concept of going concern? O Expenses…

A: Accounting Concept -The foundational guidelines, presumptions, and requirements that specify the…

Q: When analyzing a​ company's current​ ratio:   A. the industry in which the company operates should…

A: Current ratio is the ratio showing the entity’s capability to pay its short-term commitments or…

Q: In the field of accounting, "owner's equity" refers to:   Question 5 options:   An owner's…

A: Introduction: Business entity concept: According to this owner and the business are two separate…

Q: 15 Why does a business maintain a provision for doubtful debts account? A to apply the accounting…

A: Provision for doubtful debt is opened in the year in which receivables are predicted to become…

Q: Which of the following is the account group that does not have any physical assets and the…

A: Intangible assets represents the assets that does not in existence physically but it provides the…

Q: On the income statement, the result of selling equipment is reported as a(n)     operating revenue…

A: Operating Revenue or Expense :— It is the revenue earned or expenses incurred through its normal…

Q: What are the rights of creditors (claims against the assets of the company--creditors' equity) that…

A: The creditor is the person to whom the company owes money at the later date. Creditors are the one…

Q: What assumption states that a business is able to financially continue operations and is not…

A: Accounting Principles- Accounting principles are the set of rules or principles defined for the…

Q: 3. The financial statements of Mugs Company appear below: MUGS COMPANY Comparative Balance Sheet…

A: Hi student Since there are multiple subparts asked, we will answer only first three subparts. If you…

Q: What are the total assets ? what is the net worth? how much does the company owe? whag is the…

A: The balance sheet shows the Assets and liability position at the end of year. The assets create…

Q: Are the following Operating, Investing or Financing Activities? - Advances from Customers - Loan is…

A: Cash Flow Statement - Statement of Cash flow is a financial statement that includes inflow and…

Q: 38. Which term refers to the obligations of the business?

A: Obligations mean the liabilities of the business. Obligations will lead to outflow of the resources…

Q: Q025: Which accounting concept requires that financial statements reflect the assumption that the…

A: The question is asking us to identify the accounting concept that assumes a business will continue…

Q: Accounts Payable (A/P) are: Amounts totaling the net worth of a company Amounts paid to owners…

A: Accounts payable refers to the sums owed to suppliers for products or services that were purchased…