16 Best Financial Accounting Questions and Answers (Q&A) - ProProfs Discuss

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What type of office salaries, advertising, and sales commissions are the examples?

M. Kennedy, Web Content Writer
Answered: Feb 20, 2019

Operating expenses is also known as operating expenditure, operational expenditure or operational expense. These expenses are expenditures that a business incurs to engage in activities ass...Read More

2 Answers

1280 views

What is the purpose of a remittance advice?

H. callum, Content Writer
Answered: Feb 07, 2019

The purpose of a remittance advice is to match a customer's payment with the invoice. Remittance advice is a letter sent by a customer to a supplier to inform the supplier that their invoice has...Read More

2 Answers

988 views

What is an the amount of cash paid in acquiring an asset?

Zsinmakkah
Answered: Jan 20, 2025

Historical Value

1 Answer

665 views

Where will (Amount of new provision + Amount of bad debts) < Amount of old provision then the resulting figure be shown at?

John Smith
Answered: Jan 20, 2025

Credit side of Profit & Loss account

1 Answer

567 views

What is the difference between Available Balance and Posted Balance?

Chris Evins, College Student
Answered: Sep 30, 2019

Posted balance is the amount of balance you see in your bank account and is physically available for use. It is calculated as the outcome of a transaction which was executed in the...Read More

2 Answers

457 views

What will be the entry of disposal of an asset at cost price?

John Smith
Answered: Jan 20, 2025

Debit Fixed Asset Disposal and Credit Fixed Asset Cost

1 Answer

439 views

How would you describe the term revenue?

Tayhampton
Answered: Jan 20, 2025

Amounts earned from providing goods and services to a customer

1 Answer

435 views

What happens under the straight line method of depreciation?

John Adney
Answered: Sep 02, 2017

Amount of depreciation is constant in straight line method and not decreases every year.

2 Answers

383 views

What are the advantages of bookkeeping solutions?

Rayvat Accounting, Accounting Firm
Answered: Oct 29, 2020

Bookkeeping is the initiative within the accounting process and arguably the foremost important one. A bookkeeper will compile all financial data - from transactions to wages - and switch them...Read More

1 Answer

88 views

Financial Accounting Questions and Answers (Q&A)

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