When Developing a Detailed Layout, What Tools Would Be Used

question 126

Multiple Choice

When developing a detailed layout, what tools would be used?

• A) MS Excel
• B) MULTISTORY
• C) CRAFT++
• D) 3-D models and CAD software
• E) Architecture Software

Know the differentiation between the cash basis and accrual basis of accounting, including the implications for financial reporting.

Apply the expense recognition (matching) principle to determine when expenses should be recognized in the income statement.

Accurately prepare and interpret journal entries for various accounting transactions.

Recognize and differentiate between accounts with debit and credit balances within the context of the double-entry accounting system.

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Definitions:

Cash Dividends

Payments made by a corporation to its shareholder members. It is the share of profits and retained earnings that the company pays out to its shareholders.

Cost of Goods Sold

Outlays that directly contribute to the manufacture of goods sold by a company, comprising labor and materials.

Cash Basis

An accounting method that recognizes revenues and expenses only when money is actually received or paid out.

Sales Adjusted

The revision of sales figures to reflect returns, allowances for damaged goods, or changes due to promotional strategies, providing an accurate net sales number.