Accounting: Accounting is the technique of recording the financial events and transaction occur in a business during performance of any business activity. Accounting is one of the major activity done in any organization, accounting is necessary to see the present as well as the future position of an organization. Technology: Technology in simple words is a science of doing activities in easy way instead of complex procedure. The presence of technology we see in our daily life like we use mobile phone to communicate, use washing machine to wash clothes, use computer to complete our work and many more. Book Keeping: Book keeping is the technique of recording the events and transaction of the business entity. Generally transactions related to sale, purchase, bank transactions, expenses and income are recorded. To identify: The term or phrase that complete statement.

Question

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Answer 1

Question

Chapter 1, Problem 1QS

To determine

Accounting:

Accounting is the technique of recording the financial events and transaction occur in a business during performance of any business activity. Accounting is one of the major activity done in any organization, accounting is necessary to see the present as well as the future position of an organization.

Technology: Technology in simple words is a science of doing activities in easy way instead of complex procedure. The presence of technology we see in our daily life like we use mobile phone to communicate, use washing machine to wash clothes, use computer to complete our work and many more.

Book Keeping: Book keeping is the technique of recording the events and transaction of the business entity. Generally transactions related to sale, purchase, bank transactions, expenses and income are recorded.

To identify: The term or phrase that complete statement.

Expert Solution & Answer

Answer to Problem 1QS

Solution:

1.

The 'Technology' is the term that complete the sentence.

Explanation of Solution

Technology is necessary for record keeping, as it reduces the time to complete a work and increase the efficiency.
The accounting software help accountant to account for transactions quickly and it also provide accuracy. These software's are develop with the help of technology itself.

Conclusion

Thus technology is require in accounting to complete the work in efficiently manner.

2.

'Recording' is the term that complete the sentence.

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Summit Manufacturing produces a product that requires 8.5 standard hours per unit at a standard hourly rate of $16.50 per hour. If 4,500 units required 39,200 hours at an hourly rate of $16.20 per hour, compute the following: (a) Direct Labor Rate Variance (b) Direct Labor Time Variance (c) Direct Labor Cost Variance

Answer 2

Question

Chapter 1, Problem 1QS

To determine

Accounting:

Accounting is the technique of recording the financial events and transaction occur in a business during performance of any business activity. Accounting is one of the major activity done in any organization, accounting is necessary to see the present as well as the future position of an organization.

Technology: Technology in simple words is a science of doing activities in easy way instead of complex procedure. The presence of technology we see in our daily life like we use mobile phone to communicate, use washing machine to wash clothes, use computer to complete our work and many more.

Book Keeping: Book keeping is the technique of recording the events and transaction of the business entity. Generally transactions related to sale, purchase, bank transactions, expenses and income are recorded.

To identify: The term or phrase that complete statement.

Expert Solution & Answer

Answer to Problem 1QS

Solution:

1.

The 'Technology' is the term that complete the sentence.

Explanation of Solution

Technology is necessary for record keeping, as it reduces the time to complete a work and increase the efficiency.
The accounting software help accountant to account for transactions quickly and it also provide accuracy. These software's are develop with the help of technology itself.

Conclusion

Thus technology is require in accounting to complete the work in efficiently manner.

2.

'Recording' is the term that complete the sentence.

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Answer 3

Question

Chapter 1, Problem 1QS

To determine

Accounting:

Accounting is the technique of recording the financial events and transaction occur in a business during performance of any business activity. Accounting is one of the major activity done in any organization, accounting is necessary to see the present as well as the future position of an organization.

Technology: Technology in simple words is a science of doing activities in easy way instead of complex procedure. The presence of technology we see in our daily life like we use mobile phone to communicate, use washing machine to wash clothes, use computer to complete our work and many more.

Book Keeping: Book keeping is the technique of recording the events and transaction of the business entity. Generally transactions related to sale, purchase, bank transactions, expenses and income are recorded.

To identify: The term or phrase that complete statement.

Expert Solution & Answer

Answer to Problem 1QS

Solution:

1.

The 'Technology' is the term that complete the sentence.

Explanation of Solution

Technology is necessary for record keeping, as it reduces the time to complete a work and increase the efficiency.
The accounting software help accountant to account for transactions quickly and it also provide accuracy. These software's are develop with the help of technology itself.

Conclusion

Thus technology is require in accounting to complete the work in efficiently manner.

2.

'Recording' is the term that complete the sentence.

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Answer 4

Question

Chapter 1, Problem 1QS

To determine

Accounting:

Accounting is the technique of recording the financial events and transaction occur in a business during performance of any business activity. Accounting is one of the major activity done in any organization, accounting is necessary to see the present as well as the future position of an organization.

Technology: Technology in simple words is a science of doing activities in easy way instead of complex procedure. The presence of technology we see in our daily life like we use mobile phone to communicate, use washing machine to wash clothes, use computer to complete our work and many more.

Book Keeping: Book keeping is the technique of recording the events and transaction of the business entity. Generally transactions related to sale, purchase, bank transactions, expenses and income are recorded.

To identify: The term or phrase that complete statement.

Expert Solution & Answer

Answer to Problem 1QS

Solution:

1.

The 'Technology' is the term that complete the sentence.

Explanation of Solution

Technology is necessary for record keeping, as it reduces the time to complete a work and increase the efficiency.
The accounting software help accountant to account for transactions quickly and it also provide accuracy. These software's are develop with the help of technology itself.

Conclusion

Thus technology is require in accounting to complete the work in efficiently manner.

2.

'Recording' is the term that complete the sentence.

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Answer 5

Chapter 1, Problem 1QS

To determine

Accounting:

Accounting is the technique of recording the financial events and transaction occur in a business during performance of any business activity. Accounting is one of the major activity done in any organization, accounting is necessary to see the present as well as the future position of an organization.

Technology: Technology in simple words is a science of doing activities in easy way instead of complex procedure. The presence of technology we see in our daily life like we use mobile phone to communicate, use washing machine to wash clothes, use computer to complete our work and many more.

Book Keeping: Book keeping is the technique of recording the events and transaction of the business entity. Generally transactions related to sale, purchase, bank transactions, expenses and income are recorded.

To identify: The term or phrase that complete statement.

Expert Solution & Answer

Answer to Problem 1QS

Solution:

1.

The 'Technology' is the term that complete the sentence.

Explanation of Solution

Technology is necessary for record keeping, as it reduces the time to complete a work and increase the efficiency.
The accounting software help accountant to account for transactions quickly and it also provide accuracy. These software's are develop with the help of technology itself.

Conclusion

Thus technology is require in accounting to complete the work in efficiently manner.

2.

'Recording' is the term that complete the sentence.

Answer 6

Chapter 1, Problem 1QS

To determine

Accounting:

Accounting is the technique of recording the financial events and transaction occur in a business during performance of any business activity. Accounting is one of the major activity done in any organization, accounting is necessary to see the present as well as the future position of an organization.

Technology: Technology in simple words is a science of doing activities in easy way instead of complex procedure. The presence of technology we see in our daily life like we use mobile phone to communicate, use washing machine to wash clothes, use computer to complete our work and many more.

Book Keeping: Book keeping is the technique of recording the events and transaction of the business entity. Generally transactions related to sale, purchase, bank transactions, expenses and income are recorded.

To identify: The term or phrase that complete statement.

Expert Solution & Answer

Answer to Problem 1QS

Solution:

1.

The 'Technology' is the term that complete the sentence.

Explanation of Solution

Technology is necessary for record keeping, as it reduces the time to complete a work and increase the efficiency.
The accounting software help accountant to account for transactions quickly and it also provide accuracy. These software's are develop with the help of technology itself.

Conclusion

Thus technology is require in accounting to complete the work in efficiently manner.

2.

'Recording' is the term that complete the sentence.

Answer 7

Chapter 1, Problem 1QS

To determine

Accounting:

Accounting is the technique of recording the financial events and transaction occur in a business during performance of any business activity. Accounting is one of the major activity done in any organization, accounting is necessary to see the present as well as the future position of an organization.

Technology: Technology in simple words is a science of doing activities in easy way instead of complex procedure. The presence of technology we see in our daily life like we use mobile phone to communicate, use washing machine to wash clothes, use computer to complete our work and many more.

Book Keeping: Book keeping is the technique of recording the events and transaction of the business entity. Generally transactions related to sale, purchase, bank transactions, expenses and income are recorded.

To identify: The term or phrase that complete statement.

Answer 8

Expert Solution & Answer

Answer to Problem 1QS

Solution:

1.

The 'Technology' is the term that complete the sentence.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Explanation of Solution

Technology is necessary for record keeping, as it reduces the time to complete a work and increase the efficiency.
The accounting software help accountant to account for transactions quickly and it also provide accuracy. These software's are develop with the help of technology itself.