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Can financial statements be prepared monthly?
A financial statement can be prepared for a company for any length of time and at any point in time. Some companies prepare financial statements monthly t...
Jan 01, 2026 0 views
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What is the main reason for using a personal budget apex?
Calculate the Price When the government runs a budget deficit, what must it eventually do in order to pay back its debt? have a budget surplus What’s the ...
Jan 01, 2026 0 views
science
Can you accrue sales?
Accrued revenue is a sale that has been recognized by the seller, but which has not yet been billed to the customer. Accrued revenue is not recorded in ca...
Jan 01, 2026 0 views
science
What is the journal entry for reserves?
In accounting, reserves are recorded by debiting the retained earnings account then crediting the same amounting to the reserve account. When the activity...
Jan 01, 2026 0 views
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What happens when accounts receivable increases?
An increase in accounts receivable means that the customers purchasing on credit did not yet pay for all the credits sales the company reported on the inc...
Jan 01, 2026 0 views
science
What does the balance sheet and income statement have in common?
The income statement gives your company a picture of what the business performance has been during a given period, while the balance sheet gives you a sna...
Jan 01, 2026 0 views
science
Is cash book a journal or ledger explain?
A cash book is a separate ledger in which cash transactions are registered, while a cash account is a general ledger account. A cash book serves both jour...
Jan 01, 2026 0 views
science
Is accumulated depreciation on the balance sheet?
What Is Accumulated Depreciation? The accumulated depreciation account is a contra asset account on a company’s balance sheet, meaning it has a credit bal...
Jan 01, 2026 0 views
science
What are direct materials?
Direct material is the physical items built into a product. For example, the direct materials for a baker include flour, eggs, yeast, sugar, oil, and wate...
Dec 31, 2025 0 views
science
What are the financial terms?
Here are 10 financial terms everyone should know Compound interest. Compound interest is interest on the amount of money you have deposited or borrowed. F...
Dec 31, 2025 0 views
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Can accounts payable have a debit balance?
In finance and accounting, accounts payable can serve as either a credit or a debit. Because accounts payable is a liability account, it should have a cre...
Dec 31, 2025 0 views
science
Why is bad debt an operating expense?
Bad debts expense is related to a company’s current asset accounts receivable. Bad debts expense is also referred to as uncollectible accounts expense or ...
Dec 31, 2025 0 views
