Accounting: Accounting is the technique of recording the financial events and transactions that occur in a business. Accounting is necessary to see the present as well as the future position of an organization. Services: Service means a kind of activity done by an organization to earn income. Service is intangible in nature and cannot be touched. To receive a service, one has to pay the amount charged by the service provider. Example of services are, a service provided by doctor, accountant and teacher. To identify: Reason for accounting described as service activity.

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Answer 1

Question

Chapter 1, Problem 9DQ

To determine

Accounting:

Accounting is the technique of recording the financial events and transactions that occur in a business. Accounting is necessary to see the present as well as the future position of an organization.

Services: Service means a kind of activity done by an organization to earn income. Service is intangible in nature and cannot be touched. To receive a service, one has to pay the amount charged by the service provider. Example of services are, a service provided by doctor, accountant and teacher.

To identify: Reason for accounting described as service activity.

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General accounting and solution

Answer 2

Question

Chapter 1, Problem 9DQ

To determine

Accounting:

Accounting is the technique of recording the financial events and transactions that occur in a business. Accounting is necessary to see the present as well as the future position of an organization.

Services: Service means a kind of activity done by an organization to earn income. Service is intangible in nature and cannot be touched. To receive a service, one has to pay the amount charged by the service provider. Example of services are, a service provided by doctor, accountant and teacher.

To identify: Reason for accounting described as service activity.

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Answer 3

Question

Chapter 1, Problem 9DQ

To determine

Accounting:

Accounting is the technique of recording the financial events and transactions that occur in a business. Accounting is necessary to see the present as well as the future position of an organization.

Services: Service means a kind of activity done by an organization to earn income. Service is intangible in nature and cannot be touched. To receive a service, one has to pay the amount charged by the service provider. Example of services are, a service provided by doctor, accountant and teacher.

To identify: Reason for accounting described as service activity.

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Answer 4

Question

Chapter 1, Problem 9DQ

To determine

Accounting:

Accounting is the technique of recording the financial events and transactions that occur in a business. Accounting is necessary to see the present as well as the future position of an organization.

Services: Service means a kind of activity done by an organization to earn income. Service is intangible in nature and cannot be touched. To receive a service, one has to pay the amount charged by the service provider. Example of services are, a service provided by doctor, accountant and teacher.

To identify: Reason for accounting described as service activity.

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Answer 5

Chapter 1, Problem 9DQ

To determine

Accounting:

Accounting is the technique of recording the financial events and transactions that occur in a business. Accounting is necessary to see the present as well as the future position of an organization.

Services: Service means a kind of activity done by an organization to earn income. Service is intangible in nature and cannot be touched. To receive a service, one has to pay the amount charged by the service provider. Example of services are, a service provided by doctor, accountant and teacher.

To identify: Reason for accounting described as service activity.

Answer 6

Chapter 1, Problem 9DQ

To determine

Accounting:

Accounting is the technique of recording the financial events and transactions that occur in a business. Accounting is necessary to see the present as well as the future position of an organization.

Services: Service means a kind of activity done by an organization to earn income. Service is intangible in nature and cannot be touched. To receive a service, one has to pay the amount charged by the service provider. Example of services are, a service provided by doctor, accountant and teacher.

To identify: Reason for accounting described as service activity.

Answer 7

Chapter 1, Problem 9DQ

To determine

Accounting:

Accounting is the technique of recording the financial events and transactions that occur in a business. Accounting is necessary to see the present as well as the future position of an organization.

Services: Service means a kind of activity done by an organization to earn income. Service is intangible in nature and cannot be touched. To receive a service, one has to pay the amount charged by the service provider. Example of services are, a service provided by doctor, accountant and teacher.

To identify: Reason for accounting described as service activity.

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 1 - Prob. 1QS Ch. 1 - Prob. 2QS Ch. 1 - Prob. 3QS Ch. 1 - Prob. 4QS Ch. 1 - Prob. 5QS Ch. 1 - Prob. 6QS Ch. 1 - Applying the accounting equation A1 Total assets...Ch. 1 - Applying the accounting equation A1 Use the...Ch. 1 - Prob. 9QS Ch. 1 - Identifying effects of transactions using...

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