6. The accrual method is an easier accounting method to follow than cash basis accounting because it generally requires less knowledge of accounting concepts and principles.
7. The time period concept assumes that the activities of a business can be sliced into small time segments.
8. Which of the following is a major reason why corporate ownership is popular in the United States?
9. Princeton Financial Services, Inc. purchased computers that are to be used in its consulting services. Based on the matching principle, what account, other than Computers, should appear on the balance sheet as of December 31, 2018?
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- Fall '10
- MANAGE
- Balance Sheet, Income Statement, Generally Accepted Accounting Principles, Double-entry bookkeeping system, Debit service revenue, C. A
