Removal of What Would Destroy the Support System of a Sponge

question 19

Multiple Choice

Removal of what would destroy the support system of a sponge?

• A)spicules
• B)pores
• C)collar cells cells
• D)amoebocytes
• E)No answer is correct.

Recognize the treatment and recording of purchase discounts under different methods.

Understand the accounting treatment for payment of vouchers within and after discount periods.

Master the categorization of accounts and understand their normal balances, reporting in financial statements, and nature (permanent/temporary).

Understand different categories of accounts in accounting.

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Definitions:

General Journal

A primary accounting record where all types of financial transactions are initially recorded using double-entry bookkeeping before posting to specific accounts in the ledger.

Closing Entries

Closing entries are journal entries made at the end of an accounting period to transfer temporary accounts to permanent accounts.

Rendering Services

The act of providing professional services or duties to a client or customer.

Purchases Journal

A ledger used in accounting to record all purchases of goods and services on credit.