C214 wgu dr vs webinar - Study guides, Class notes & Summaries
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C214 WGU Dr. V's Webinar
- Exam (elaborations) • 22 pages • 2023
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Elements of Financial Statements (8 Questions) Answer Revenue 
Expenses 
Income 
Assets 
Liabilities 
Equity 
 
Revenue Answer Amount generated by sale of products and services 
 
Expenses Answer Amount incurred to manufacture products 
 
Income Answer The difference between revenues and expenses 
 
Liabilities Answer Amounts owed by the company to others 
 
Equity Answer Amounts invested in the company by shareholders 
 
Income Statement (recorded in two methods) Answer Accrual Principal = Reve...
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C214 WGU Dr. V's Webinar questions and answers 2024
- Exam (elaborations) • 13 pages • 2024
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C214 WGU Dr. V's Webinar questions and answers 2024
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