Distinguish between cash basis and accrual basis accounting.
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 78% (14 reviews)
In some organizations support and revenues are only acknowledged if they have been received in cash ...View the full answer
Answered By
Ashok Kumar Malhotra
Chartered Accountant - Accounting and Management Accounting for 15 years.
QuickBooks Online - Certified ProAdvisor (Advance - QuickBooks Online for 3 years.
5.00+
3+ Reviews
10+ Question Solved
Related Book For
Financial Management for Public Health and Not for Profit Organizations
ISBN: 978-0132805667
4th edition
Authors: Steven A. Finkler, Thad Calabrese
Question Posted:
Students also viewed these Finance questions
-
Distinguish between the accrual basis and the cash basis of accounting.
-
Distinguish between cash-basis accounting and accrual basis accounting. Why is accrual-basis accounting acceptable for most business enterprises and the cash basis unacceptable in the preparation of...
-
Brain Teaser 4: Cash Basis or Accrual Basis? Is Accrual Accounting Superior to Cash Basis? Alicia: In the finance literature, there seems to be an emphasis on cash. Stock prices are discussed as the...
-
For nearly 50 years, Loganville Window Treatments (LWT) of Loganville, Georgia, has made interior shutters that are sold through decorating centers. Figure 3.20 shows some of the various styles of...
-
The Oahu Trading Company is considering the purchase of a small firm that produces clocks. Oahu's management feels there is a 50-50 chance, if Oahu buys the firm, that it can mold the firm into an...
-
It's Yours Manufacturing wishes to maintain a growth rate of 8 percent a year, a debt-equity ratio of 0.45, and a dividend payout ratio of 25 percent. The ratio of total assets to sales is constant...
-
What are the advantages of using the Internet to conduct preliminary job interviews? What problems is a company that uses computer-aided interviewing likely to encounter?
-
The real risk-free rate, r*, is 2.5%. Inflation is expected to average 2.8% a year for the next 4 years, after which time inflation is expected to average 3.75% a year. Assume that there is no...
-
Below are several transactions for Scarlet Knight Corporation. A junior accountant, recently employed by the company, proposes to record the following transactions. External Transaction Accounts...
-
Several years ago, Bonita started a clothing boutique which she structured as a wholly owned corporation. The business took off after her clothes were touted by a popular actress on national TV....
-
What are the elements of the budget cycle?
-
What is the purpose of a budget timeline?
-
Harry Daviss preferred stock is riskier to investors than its debt, yet the preferred's yield to investors is lower than the yield to maturity on the debt. Does this suggest that you have made a...
-
Prepare annual income statement plan using the information on the attached file. The first tab is the income statement; the plan column will populate sales and operating expenses from your inputs on...
-
Average Maintenance Per-Check Balance Charge Per Month Charge Less than $500 $12.00 $.20 $500 $1999 $ 7.50 $.20 $2000 $4999 $ 5.00 $.10 $5000 or more 0 0 Use the above table to find the monthly...
-
Daniel is an 89 year old widower with $500,000 Term to 100 death benefit policy. Daniel has been paying his monthly premiums for decades. Unfortunately he has just had a stroke and is in intensive...
-
A 1.3 MeV gamma-ray Compton scatters in carbon. The scatter angle is 15. a) What is the energy of the scattered photon? b) What is the wavelength of the scattered photon? c) What is the momentum of...
-
A wave has a speed of 1200 m/s and a wavelength of 3.3 m. What is its approximate frequency?
-
As shown in Fig. 21-2, a container is separated into two equalvolume compartments. The two compartments contain equal masses of the same gas, 0.740 g in each, and c for the gas is 745 J/kgK. At the...
-
Privitera and Freeman (2012) constructed a scale to measure or estimate the daily fat intake of participants; the scale was called the estimated daily intake scale for fat (EDIS-F). To validate the...
-
What is the most pressing legal issue facing healthcare providers today?
-
Assume that your aunt sold her house on December 31 and that she took a mortgage in the amount of $10,000 as part of the payment. The mortgage has a quoted (or nominal) interest rate of 10 percent,...
-
Your company is planning to borrow $1,000,000 on a 5-year, 15%, annual payment, fully amortized term loan. What fraction of the payment made at the end of the second year will represent repayment of...
-
a. It is now January 1. You plan to make 5 deposits of $100 each, one every 6 months, with the first payment being made today. If the bank pays a nominal interest rate of 12 percent but uses...
-
Please discuss echo of this topic with hundred words at list pleas. Its UNIX and Linux operating systems Discuss on (Unix File System and Directory Navigation) Discuss on (Importance of the shell...
-
How do Windows and Unix systems save settings?
-
Two charges, QA=-6.10 C and QB-4.15 C are placed a distance d=1.50 cm from each other. What is the electric potential energy of this system of charges? Provide your answer in joules with 2 decimal...
Study smarter with the SolutionInn App