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Please answer all of them , thankyou 2 ) Adjusting entries are prepared forAnswera.Both A and Bb . Depreciationc.Prepaid Expensesd.Drawing 3 ) An entry to

Please answer all of them , thankyou
2) Adjusting entries are prepared forAnswera.Both A and Bb.Depreciationc.Prepaid Expensesd.Drawing3) An entry to ____ must be recorded at the end of the year.Answera.Transfer Net Income into the Checking accountb.Write a check to the owner for the amount of Net Incomec.Close the adjusting entries for prepaid expenses
4) Credit Cards must be entered as a(n)_____ before they may be accepted in a transaction.Answera.Company Settingb.Accountc.Product/Service Itemd.Payment Method
5) If you ordered an inventory item, 15 cans of dog food at $2.00 per can and the sales tax rate is 8 percent, you would pay in sales tax.Answera.$32.40b.$2.40c.None of the aboved.$0.00
6) In the text, Venice is categorized as aAnswera.Classb.Main Officec.Locationd.Both A and B
7) Payment methods allowed in QBO include: Credit Cards, eCheck, ACH transfers and EFT transfers.Answera.Falseb.True
8) Reconciling a bank statement can help in finding the following types of errors recorded in the Checking account:Answera.A transaction that was recorded backwardsb.A transaction that was recorded twicec.Transposition errorsd.All of these can be found with a reconciliation
9) The FIFO method of inventory valuation uses.Answera.Last in, First outb.First in, Last outc.Average Costd.First in, First out10) The report that shows a summary of budgeted amounts for a specific budget is theAnswera.Company Snapshotb.Budget vs. Actualsc.Budget Overviewd.Both A and B

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