A State Law That Exempts In-State Businesses from Additional Licensing

question 63

True/False

A state law that exempts in-state businesses from additional licensing and inspections but that applies to out-of-state businesses is not a proper exercise of police powers.

Grasp the process and purpose of transferring transaction information to ledger accounts.

Understand the structure and significance of a chart of accounts.

Recognize the treatment of deferred revenues in financial statements.

Understand the basic principles and processes of recording financial transactions in accounting.