1. receiving cash on accounts is an example of a transaction the results in chan

Question

1. receiving cash on accounts is an example of a transaction the results in changes to two assets accounts? 2. perpaid expenses is an example of an account that may need to be adjusted at the end of the accounting period? 3. vertical analysis consits of comparing nthe changes in account balances from perid to perid? 4. a merchandising company is one that sells product from inventory? 5. a buyer may receive a quantity discount for paying an invoice before its due date? 6. inventory erroes always effect only a single accounting period? 7. the ratio for number of days sales in inventory is intended to measure the efficiency of the inventory managing process? 8. one of the objectives of a system of internal control is to assure that business information is accurate?

Explanation / Answer

false

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