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Which type of account are accounts payable and notes payable both examples of? Liability Asset Expense Equity ANS Liability 5 / 11 10. What is the purpose of the financial accounting cycle? To collect confidential information for management to use as a competitive tool To turn information ...

The production budget - ANSWER Sales budget + ending finished goods inventory - beginning finished goods inventory direct materials production budget - ANSWER Production budget × direct materials per unit the direct materials purchases budget - ANSWER Direct materials production budget + endin...

where does capital come from (3) - investors creditors(lenders) business itself (from earnings retained) 2 main types of accounting - financial and managerial managerial accounting - gather and analysis of information for internal use and decision making. financial accounting - gather, report,...

Accounting - ANSWER A system for providing quantitative, financial information about economic entities that is useful for making sound economic decisions. Accounting provides the means of recording and communicating business activities and the results of those activities. Accounting Cycle - ANSW...