What happens in accounting when purchasing office supplies with Cash does our asses increase or decrease?

What happens in accounting when purchasing office supplies with Cash does our asses increase or decrease?
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Description : 20) Use Accounting Equation to show the effect of the following transactions of Ram Traders.a) Started business with cash ₹ 1,00,000.b) Bought goods for cash \( ₹ 20,000 \).c) Cash sales ₹ \( 60,000 . \)

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Which one of the following statements about preparation of financial statements of a limited liability company is correct ? (A) Financial statements should be prepared according to the cash basis of accounting only (B) Financial statements should be prepared according to the accrual basis of accounting only (C) Financial statements should be prepared according to either the cash basis or accrual basis of accounting (D) Financial statements should be prepared according to both the accrual and cash basis of accounting

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In proper capital budgeting analysis we evaluate incremental cash flows. A. accounting B. operating C. before-tax D. financing

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Which of the following factors most likely would heighten an auditor's concern about the risk of fraudulent financial reporting? a. Large amounts of liquid assets that are easily convertible into cash. b. Low growth and profitability as compared to other entity's in the same industry. c. Financial management's participation in the initial selection of accounting principles. d. An overly complex organizational structure involving unusual lines of authority.

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Last Answer : An overly complex organizational structure involving unusual lines of authority.

The auditor's judgment concerning the overall fairness of presentation of financial position, results of operation, and changes in cash flow is applied within the framework of a. Generally accepted auditing standards which include the concept of materiality b. Generally accepted accounting principles. c. Philippine Financial Reporting Standards d. Quality control

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Last Answer : Philippine Financial Reporting Standards

Discounted cash flow criteria for investment appraisal does not include A. Not present value B. Benefit cost ratio C. Accounting rate of return D. Internal rate of return

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Determine which of the following method of accounting maybe used in the calculation of income under the head- “Profits and gains from business and profession” or “Income from other sources”? a) Mercantile system of accounting b) Cash system of accounting c) Both of the above maybe used d) casual accounting

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As per Accounting Standard-3, Cash Flow is classified into A. Operating activities and investing activities B. Investing activities and financing activities C. Operating activities and financing activities D. Operating activities, financing activities and investing activities

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Last Answer : D. Operating activities, financing activities and investing activities

Cash Flow Statement is based upon A. Cash basis of accounting B. Accrual basis of accounting C. Credit basis of accounting D. None of the above

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Last Answer : A. Cash basis of accounting

Cash Flow Statement is also known as A. Statement of Changes in Financial Position on Cash basis B. Statement accounting for variation in cash C. Both a and b D. None of the above

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Cash flow statement is based on---------- a) Cash basis of accounting b) Accounting equation c) Accrual basis of accounting d) None of these

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The accounting report indicates that Alton's sales increased by £2 millions last year. While the Chairman is pleased, the marketing vice president feels that inflation had a great deal to do with this result. She proposes that __________ may be a better gauge of the firm's performance last year. A)net sales B)gross profits C)market share D)cash flow

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Last Answer : C)market share

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Bruce walks around behind purchasing agent Shannon Wise as she looks at the pamphlet describing Hyster's new conveyer system. Shannon stands up and walks to a table on the other side of her office. Bruce follows but he does not understand the __________ communication Shannon is sending. A)tactile B)proxemic C)kinesic D)verbal E)promotional

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Last Answer : B)proxemic

Warning signs that cause the auditor to question management integrity must be taken seriously and pursued vigorously. Which of the following may lead the auditor to suspect management dishonesty? a. The client has been named as a defendant in a product liability suit. b. The client has experienced a decrease in revenue from increased import competition. c. A new statutory regulation making customer licenses more difficult to obtain may adversely affect the client's operations. d. The president and chief executive officer of the client corporation has held numerous meetings with the controller for the purpose of discussing accounting practices that will maximize reported profits

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When Using the Allocation Rules Engine (ARE) function how can you ensure that all transactions for ABC Office Supplies are divided evenly between cost center 1111 and cost center 2222?

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Last Answer : Need answer

Where can I buy office supplies?

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Last Answer : One of the cheapest stores online for office supplies is "I buy office supply" they do discounts on wholesale and are excellent as they also deliver fast too and have a wide range of stock.

What cleaning supplies are best for use in the office?

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Where can I find a commercial cleaning supplies checklist for my home office?

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Which one of the following is the most appropriate task of office management ? (A) Creation of profit centre (B) Creation of control centre (C) Making office supplies available (D) Supervision of production Quality Control

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Last Answer : Answer: Creation of control centre