Business

17 May, 06:11

For which account does the accounting principle state that we must debit the receiver and credit the giver?

personal account

real account

nominal account

asset account

+3

Answers (1)

Know the Answer?

Not Sure About the Answer?

Find an answer to your question 👍 “For which account does the accounting principle state that we must debit the receiver and credit the giver? personal account real account ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.

Search for Other Answers

You Might be Interested in

A firm can be identified as practicing price discrimination when: a. firms behave as price-takers, whereas consumers react with price-making behavior. b. buyers in a perfectly competitive market are able to influence the prices that firms set. c.

Suppose that Spain has a Gini coefficient of 0.5, France has a Gini coefficient of 0.4, and Germany has a Gini coefficient of 0.3.

Jamal purchased a motorcycle from Getaway Automobiles, and the motorcycle's electric starter began malfunctioning after a week of the motorcycle's purchase.

A project will generate annual cash flows of $237,600 for each of the next three years, and a cash flow of $274,800 during the fourth year. The initial cost of the project is $757,600. What is the internal rate of return of this project?

Which of the following statements is correct regarding fair value measurement? 1. Fair value is a market-based measurement. 2. Fair value is an entity-specific measurement. 3. Fair value measurement does notconsider risk. 4.

New Questions in Business

Austin Fisher contributed land, inventory, and $32,000 cash to a partnership. The land had a book value of $59,000 and a market value of $103,000. The inventory had a book value of $70,900 and a market value of $65,900.

Keisha is in charge of a focus group that is watching a screening of a new movie. She notices that people are cringing at certain sections of the movie and not laughing at others that were supposed to be funny. She takes this information to her boss.

Morgan, Inc. uses a perpetual inventory system and the net method of recording purchases. On May 12, a merchandise purchase of $20,600 was made on credit, 3/10, n/30. The journal entry to record this purchase is:a.

The McDonald's fast-food restaurant on campus sells an average of 4,000 quarter-pound hamburgers each week. Hamburger patties are resupplied twice a week, and on average the store has 350 pounds of hamburger in stock.

Suppose you will buy 1000 shares of IBM, you give your broker a limit buy order with 50$/share and a stop to buy order 60$/share.