Annual depreciation and accumulated depreciation are most likely classified as which financial statement elements?
Depreciation Accumulated depreciationAnnual depreciation and accumulated depreciation are most likely classified as which financial statement elements?
Depreciation Accumulated depreciation
A. Expenses Contra liabilities
B. Expenses Contra assets
C. Liabilities Contra assets
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An electrician repaired the light fixtures in a retail shop on October 24 and sent the bill to the shop on November 3. If both the electrician and the shop prepare financial statements under the accru
Accrued revenue Accrued expense
B. Accrued revenue Prepaid expense
C. Unearned revenue Accrued expense
Information about elections of members to a companys Board of Directors is most likely found in:
A l0-Q filing.
B. A proxy statement.
C. Footnotes to the financial statements.
Which of the following most accurately lists a required reporting element that is used to measure a companys financial position and one that is used to measure a companys performance?
Position PerWhich of the following most accurately lists a required reporting element that is used to measure a companys financial position and one that is used to measure a companys performance?
Position Per
Assets Liabilities
B. Income Expenses
C. Liabilities Income
Accounts receivable and accounts payable are most likely classified as which financial statement elements?
Accounts receivable Accounts payableAccounts receivable and accounts payable are most likely classified as which financial statement elements?
Accounts receivable Accounts payable
Assets Liabilities
B. Revenues Liabilities
C. Revenues Expenses