Under Accrual Basis Accounting,the Recognition of Salaries Earned and the Immediate

question 129

Multiple Choice

Under accrual basis accounting,the recognition of salaries earned and the immediate payment of salaries to employees would

• A)increase assets.
• B)increase owners' equity.
• C)increase net income.
• D)decrease net income.
• E)increase revenue.

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Definitions:

Numeric Filing

A system for organizing files or documents in numerical order, often based on a unique identification number to facilitate easy retrieval.

Alphabetic

Pertaining to the arrangement or order based on the letters of the alphabet.

Chronologic

The arrangement of events, dates, and so on in order of occurrence.

Patient Chart

A comprehensive record containing all healthcare information relevant to a patient, including medical history, diagnoses, medications, treatment plans, and progress notes.