Re: ::::IIVU ASKARII:::: FIN621 Threat

 Increase assets and increase expenses

-----

Imran Ali,

MBA 3rd (Finance),

"The Hardest Part About Losing Love; 

IS FINDING YOUR WAY BACK".

Keep Smiling  :)

On Wed, Feb 16, 2011 at 5:25 PM, mc090405005 Imtiaz Ahmad <mc090405005@vu.edu.pk> wrote:

Yes in my point of view it is 3rd:

► Cash that has already been collected

Imtiaz Ahmad

And Following quiz Seems Wrong in my view ?

Question # 18 of 20 ( Start time: 06:41:26 AM )  Total Marks: 1 
How would the sale of merchandise on account be represented in the seller's records? 
Select correct option: 
 
 Increase assets and increase expenses
 Increase assets and decrease liabilities
 Increase assets and increase paid-in capital
 Increase assets and decrease revenues

 

Thanks

Imtiaz Ahmad

On Wed, Feb 16, 2011 at 4:47 PM, sa2277550 <sa2277550@gmail.com> wrote:

► Cash that has already been collected

On Wed, Feb 16, 2011 at 1:07 PM, saad khan <saadkhan545@gmail.com> wrote:

Which of the following is NOT normally required for revenue to be recognized according to the revenue principle for accrual basis accounting?

- Hide quoted text -

► The price is fixed or determinable
► Services have been performed
► Cash that has already been collected
► Evidence of an arrangement for customer payment exists

Its Option 3rd or 4??

On Wed, Feb 16, 2011 at 3:05 PM, LAIBA BUTT <laiba.butt98@gmail.com> wrote:

On Wed, Feb 16, 2011 at 1:39 AM, Farooq A Hashmi <mc090401609@vu.edu.pk> wrote:

An entry that affects more than one accounts is knows as _____________.
1.      Journal entry
2.      Compound entry
3.      Adjusting entry
4.      Reversing entry

--
Rgds
Farooq
MBA-III-Finance
Islamabad.

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