Why is a service expense a good account for recording a fictitious expense?
Question:
Why is a service expense a good account for recording a fictitious expense?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 72% (11 reviews)
If a fictitious expense is included in the records eg an exp...View the full answer
Answered By
Muqadas Javed
I am a mentor by profession since seven years. I have been teaching on online forums and in universities. Teaching is my passion therefore i always try to find simple solution for complicated problems or task grasp them so that students can easily grasp them.I will provide you very detailed and self explanatory answers and that will help you to get good grade. I have two slogans: quality solution and on time delivery.
4.60+
24+ Reviews
144+ Question Solved
Related Book For
Auditing and Assurance Services
ISBN: 978-1260152166
7th edition
Authors: Timothy Louwers, Allen Blay, David Sinason, Jerry Strawser, Jay Thibodeau
Question Posted:
Students also viewed these Auditing questions
-
The Company Lalo Company, headquartered in Vaduz, is a company listed in Amsterdam, Paris and Zurich. It is the third largest small home appliance manufacturer in Europe. The company was founded in...
-
Recording Adjusting Entries Zimmerman Companys annual accounting year ends on December 31. It is December 31, 2011, and all of the 2011 entries except the following adjusting entries have been made:...
-
Recording Adjusting Entries Hannah Companys annual accounting year ends on June 30. It is June 30, 2012, and all of the entries for the current year have been made except the following adjusting...
-
Compare to traditional organizational development approaches. To get back on track and find a way to function more smoothly, should this taskforce use an Appreciative Inquiry approach or a more...
-
How is a bonds value determined? What is the value of a 10-year, $1,000 par value bond with a 10% annual coupon if its required return is 10%?
-
A joint survey by Parade magazine and Yahoo found that 59% of American workers say that if they could do it all over again, they would choose a different career (USA today, September 24, 2012). The...
-
What are some constraints in user interface design?
-
Steve Jackson (age 51) is a single taxpayer living at 3215 Pacific Dr., Del Mar, CA 92014. His Social Security number is 465-88-9415. In 2012, Steve's earnings and income tax withholding as the...
-
Translate the following code into MIPS code. int Sum (int a) { } if (a <3) return (1); else return (a + Sum (a - 2) + Sum (a-3));
-
A ride hailing company has their DB structured in 3 major tables as described in the SCHEMA section below. Write a query to fetch the top 100 users who traveled the most distance using the service....
-
Maine Construction builds office buildings. The buildings generally cost between $5 million and $8 million to build, and the plumbing can cost between $300,000 and $600,000 depending on the building...
-
If an account payable is left off the end of the period balance, what are the possible other accounts that may be misstated?
-
What is a predetermined overhead rate? How is it calculated? Why is it used?
-
Suppose that a companys ROE is 25 percent and its retention rate is 60 percent. According to the expression for the sustainable growth rate, the dividends should grow at g = b ROE = 0.60 25 percent...
-
Repeat Exercise 5.14 (a) using the Dolph-Chebyshev window. Compare the transition bandwidths and the stopband attenuation levels for the two resulting filters. Exercise 5.14(a) (a)...
-
Our economic growth began to slow markedly ______. a) in the early 1940s b) in the early 1960s c) in the early 1970s d) between 1982 and 1985
-
Without mentioning payment, Mary accepts the services of Razi, a contractor, and is pleased with the work. Is there a contract between them? a. Yes, there is an express contract. b. Yes, there is an...
-
Show that decimation is a time-varying, but periodically time-invariant, operation and that interpolation is a time-invariant operation.
-
Using the same retailer that you chose in the previous question, how well have they integrated their operations across channels? How similar and different are their assortments and prices? Should...
-
The time to assemble the first unit on a production line is 10 hours. The learning rate is 0.94. Approximately how long will it take for the seventh unit to be assembled? The number of hours needed...
-
Multiple Choice Questions The following questions concern quality control standards. Choose the best response. a. A CPA firm is reasonably assured of meeting its responsibility to provide services...
-
The following comments summarize the beliefs of some practitioners about the Sarbanes-Oxley Act and the PCAOB. The Sarbanes-Oxley Act is unnecessary regulation of the profession. The costs of...
-
For each of the following procedures taken from the quality control manual of a CPA firm, identify the applicable element of quality control from Table 2-4. a. Appropriate accounting and auditing...
-
How would Stephanies investing decisions be affected if she were 35 years old? If she were 50 years old? Amount of Insurance Needed. Considering the information in the previous problem, how much life...
-
Jamie Lee and Ross have been hearing many stories recently about acquaintances who are passing away without leaving a will, which made Jamie Lee and Ross anxious to review their estate plan with an...
-
What are the companys top risks, how severe is their impact and how likely are they to occur?
Study smarter with the SolutionInn App