Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 1. if an owner takes goods from the inventory for

1. If an owner takes goods from the inventory for personal use, which of the...

90.2K

Verified Solution

Question

Accounting

1. If an owner takes goods from the inventory for personal use, which of the following accounting concepts should be considered? a) Prudence b) Going concern concept c) Money measurement d) Separate entity concept 2. Which of the following would normally be entered through the journal? a) Credit purchase returns. b) Transfers between accounts. c) Receipts from credit customers. d) Expense payments.
image
1. If an owner takes goods from the inventory for personal use, which of the following accounting concepts should be considered? a) Prudence b) Going concern concept c) Money measurement d) Separate entity concept 2. Which of the following would normally be entered through the journal? a) Credit purchase returns. b) Transfers between accounts. c) Receipts from credit customers. d) Expense payments

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

In any given year, an estimated 40 million Americans suffer from chronic sleep disorders, and another...

Psychology
Q

Which of the following is NOT a factor expected to affect bacterial transformation efficiency A...

Biology
Q

What is the correct step for substitution given the following system of equations? *y =...

Basic Math
Q

Indicate your understanding of fixed and variable cost behavior by selecting one of the following...

Accounting
Q

Please answer them all; Thank you This information was extracted from the...

Accounting
Q

asap Required information Use the following information for the Exercises below. (Algo) [The following...

Accounting
Q

CASE Background: Super Clean is local business in the Tri-cities area. It provides cleaning services...

Accounting
Q

Meme we TTTT OL 3 5 7 R T Y S D F G...

Accounting
Q

please answer 16 &17 10. Determine the estimated expert Armed...

Accounting
Q

The Watson Foundation, a private not-for-profit entity, starts 2020 with cash of $100,000, contributions receivable...

Accounting
Q

The Global financial crisis (GFC) is a one-off event - It will not happen again....

Finance
Q

Part C: Prepare the paid-in capital section of Stockholders equity at December 31st, 2020 ...

Accounting