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Questions and Answers
Which of the following is an example of a contra-asset?
Which of the following is an example of a contra-asset?
What is the end product or output of accounting?
What is the end product or output of accounting?
Where are temporary accounts found?
Where are temporary accounts found?
Which financial statement is also known as the Income statement?
Which financial statement is also known as the Income statement?
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What are the inputs needed for accounting?
What are the inputs needed for accounting?
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Accounting consists of inputs, processes, and outputs.
Accounting consists of inputs, processes, and outputs.
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Contra-Assets are accounts that are increases to the company's assets.
Contra-Assets are accounts that are increases to the company's assets.
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The end product of accounting is useful information contained in the financial statements.
The end product of accounting is useful information contained in the financial statements.
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The Statement of Comprehensive Income is also known as the Income statement.
The Statement of Comprehensive Income is also known as the Income statement.
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A complete set of financial statements includes the Statement of Cash Flows.
A complete set of financial statements includes the Statement of Cash Flows.
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