Matching Type A. Intangible Assets B. Contra asset C. Allowance for doubtful Accounts D. Current liabilities E. Unearned Revenues F. Accumulated Depreciation G. Permanent Accounts H. Report Form 1. Prepaid expenses J. Account Form

27) Which one of the following category prepaid expenses belong to? a. Current asset b. Non-current asset c. Intangible asset d. Current liability

what type of account accumulated depreciation? and depreciation expense is and on what statement each account goes?

Which method of the matching principle is used when a company recognizes depreciation expense on the income statement? Group of answer choices A. Installment method B. Systematic and rational allocation C. Immediate recognition D. Associating cause and effect

What does the credit balance in the Accumulated Depreciation account represent?

Identify an example of a non-current asset. O a. Machinery O b. Bank overdraft O c. Inventory O d. Loan

41. Realization of revenue occurs when a. the item is formally recorded and reported in the financial statements b. noncash resources are converted into cash or rights to cash c. the actual exchange of noncash resources into cash С. d. when a transaction is both realized and realizable 42.A revenue recognition method that recognizes revenue before the time of sale is a. percentage-of-completion b. installment c. cost recovery d. point of sale С.

The monetary value of the net assets is reported at its historical cost on the balance sheet? a. physical capital b. excess capital c. net capital d. financial capital

Which of the following is a current asset?   Question 3 options:     goodwill     prepaid expenses     accrued liabilities     deferred revenue

Recording depreciation for a plant asset conforms to which accounting principle/assumption? OA. Matching Principle B. Time Period Assumption OC. Full Disclosure Principle OD. Revenue Recognition Principle***