business
How do I record an adjusting entry for rent?
To do this, debit your Expense account and credit your Prepaid Expense account. This creates a prepaid expense adjusting entry. Let’s say you prepay six m...
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Business
business
Which WAN technologies operates at Layer 3 of the OSI model?
Cards Term Which of the following WAN topologies comes with the highest availability and the greatest cost? Definition Full Mesh Term Which WAN technology...
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business
Is board of directors higher than management?
A company’s chief executive officer is the top dog, the ultimate authority in making management decisions. Even so, the CEO answers to the board of direct...
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business
Do C corp owners have to take a salary?
Like an LLC, S corps are pass-through entities, but are not required to pay self-employment taxes. S corp owners are required to pay themselves a “reasona...
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business
What is an example of feed-forward control?
In the house example, a feed-forward system may measure the fact that the door is opened and automatically turn on the heater before the house can get too...
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business
What is considered an expense in accounting?
An expense in accounting is the money spent, or costs incurred, by a business in their effort to generate revenues. Cost is the monetary measure (cash) th...
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business
What is full form of AAT?
AAT Full Form Full Form Category Term Average Access Time Information Technology AAT Application Assembly Tool Softwares AAT Association of Accounting Tec...
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business
What is business entity concept?
1 The business entity concept. The business entity concept states that the business is separate from the owner(s) of the business. Therefore the accountin...
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business
How does recording accrued interest affect the accounting equation?
When a business records accrued interest, it adjusts two account balances in its general ledger. It first debits its interest expense account by the amoun...
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business
What is the relationship between Auditing and Investigation?
Auditing verifies the true and fair view of the financial statement while Investigation is performed to establish a fact. the appointment of an auditor is...
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