Funeral accounting - Study guides, Class notes & Summaries

Funeral Director / Embalmer License Renewal Date correct answers Bi-annually prior to June 1st Funeral Establishment License Renewal Date correct answers January 1st Each preneed provider and preneed seller shall remit an annual report and license or registration renewal correct answers Prior to October 31st Each preneed agent shall renew their preneed registration/license correct answers Prior to November 30th If purchaser asks for accounting how many days must you give from written...

AAMI ACCOUNTING ONE FINAL REVIEW QUESTIONS WITH 100% CORRECT ANSWERS How do you increase an asset account? -Correct Answer-Debit How do you decrease an asset account? -Correct Answer-Credit How do you increase a liability account? -Correct Answer-Credit How do you decrease a liability account? -Correct Answer-debit How do you increase revenue? -Correct Answer-Credit How do you increase expenses? -Correct Answer-debit What is the accounting equation? -Correct Answer-Assets=Liab...

AAMI Accounting 2 Final Questions and Answers Accurate 10 The concept that prices rise over time - ANSWERInflation Another term for sales - ANSWERRevenue Sales - Cost of Goods Sold - ANSWERGross Profit In an inflationary period what method of inventory valuation would lower profits - ANSWERLIFO In an inflationary period what method of inventory valuation would increase profits - ANSWERFIFO In a deflationary period what method of inventory valuation would lower profits - ANSWERFI...

After a citation has been issued, the licensee may: - Pay the amount of the fine to the board The renewal fee for a practical embalmer is: - $100 Which of the following general categories will not be found on an embalmer's examination? - Accounting For how long must licensees retain continuing education certificates of completion? - 3 years A funeral establishment performing cremation services shall obtain all necessary license and permits from: - - Alabama Board of Funeral Service - Fed...

How do you increase an asset account? - correct answer Debit How do you decrease an asset account? - correct answer Credit How do you increase a liability account? - correct answer Credit How do you decrease a liability account? - correct answer debit How do you increase revenue? - correct answer Credit How do you increase expenses? - correct answer debit What is the accounting equation? - correct answer Assets=Liabilities+Owner's Equity Cash is a(n): - correct answer Asset...

AAMI Accounting 2 Final Exam Questions and Answers The concept that prices rise over time - Correct Answer ️️ -Inflation Another term for sales - Correct Answer ️️ -Revenue Sales - Cost of Goods Sold - Correct Answer ️️ -Gross Profit In an inflationary period what method of inventory valuation would lower profits - Correct Answer ️️ -LIFO In an inflationary period what method of inventory valuation would increase profits - Correct Answer ️️ -FIFO In a deflationary pe...

AAMI Accounting 2 FinalThe concept that prices rise over time - correct answer Inflation Another term for sales - correct answer Revenue Sales - Cost of Goods Sold - correct answer Gross Profit In an inflationary period what method of inventory valuation would lower profits - correct answer LIFO In an inflationary period what method of inventory valuation would increase profits - correct answer FIFO In a deflationary period what method of inventory valuation would lower profits - ...

AAMI Accounting 2 Final Exam Correctly Solved 2024. The concept that prices rise over time - correct answer Inflation Another term for sales - correct answer Revenue Sales - Cost of Goods Sold - correct answer Gross Profit In an inflationary period what method of inventory valuation would lower profits - correct answer LIFO In an inflationary period what method of inventory valuation would increase profits - correct answer FIFO In a deflationary period what method of inventory va...

AAMI Accounting 2 Final Exam Practice Questions 2024. The concept that prices rise over time - correct answer Inflation Another term for sales - correct answer Revenue Sales - Cost of Goods Sold - correct answer Gross Profit In an inflationary period what method of inventory valuation would lower profits - correct answer LIFO In an inflationary period what method of inventory valuation would increase profits - correct answer FIFO In a deflationary period what method of inventory ...

AAMI Accounting 2 Final Exam Questions and Answers The concept that prices rise over time - Correct Answer ️️ -Inflation Another term for sales - Correct Answer ️️ -Revenue Sales - Cost of Goods Sold - Correct Answer ️️ -Gross Profit In an inflationary period what method of inventory valuation would lower profits - Correct Answer ️️ -LIFO In an inflationary period what method of inventory valuation would increase profits - Correct Answer ️️ -FIFO In a deflationary pe...