Accrual Accounting: 5 True or False Questions

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@AccountingStuff 10 ай бұрын

How did you score? ANSWERS ⬇️ 1. FALSE - In Accrual Accounting, Expenses are recorded when they are incurred, not when Cash is paid out. 2. TRUE - In the Accrual Method, Revenue is recognized when it's earned and Expenses are recorded as they are incurred. 3. TRUE - The Accrual Method of Accounting is a requirement for publicly traded companies. Both under GAAP & IFRS. 4. FALSE - The Accrual Method applies both the Revenue Recognition Principle and the Matching Principle. 5. TRUE - The Accrual Method aligns Revenue with related Expenses, which allows you to accurately measure Profit. Head to accountingstuff.com for more practice questions like this. ❤THANKS FOR YOUR SUPPORT Fievelgoesout Robert Levitt Aurora Nesby RestaurantSystemsPro Leah Brown Kristi Koopman Ryan Glick AbdulKhaliq Ismael Marcelo Furlan Charles Puglisi ANDRE Jefferson Root ＆ Stone Landscape and Construction Faisal Ahmed Daniela Biddulph John-Michael Lewis Igor Alexis Rocco Bouse Glyn Pritchard-Jones Beatriz Alvarez TurningWest, Inc. JIAXUAN LI Adam Mccoy leanne allen David Rogers John Fennell Adamm Ferrier Connie Kelley Ligia Hernandez Idk John Rachow Dameria Hutapea

@natnaelsamsom 10 ай бұрын

5/5 we need more videos like this❤

@AccountingStuff 10 ай бұрын

There are more on their way :)

@hunsanile6397 2 ай бұрын

@@AccountingStuffn u teach details on consolidation? then to finance statment ..pls

@AccountingStuff 2 ай бұрын

@@hunsanile6397 Thanks for your request!

@jessicaargallon5060 10 ай бұрын

I got all, sana sa quiz din namin perfect ako 😂

@frankiesantiago9386 2 ай бұрын

Didnt know the public company one. Cool stuff

@AccountingStuff 2 ай бұрын

Glad you enjoyed it!

@ediwow0501.teevee 3 ай бұрын

Great job... I got 4points

@AccountingStuff 3 ай бұрын

Nice one! Did the answer make sense for the one you got wrong? You can find it in the comments :)

@Adrian-cn5rk 10 ай бұрын

Do you branch out into Intermediate/Advanced accounting or is it just the basics?

@AccountingStuff 10 ай бұрын

I teach basic accounting on this channel :)

@carolynniemann6934 9 ай бұрын

Thank you. 😎🤟

@AccountingStuff 9 ай бұрын

No problem 👍

@Abhi_jha-2612 9 ай бұрын

Perfect vedio ❤

@AccountingStuff 9 ай бұрын

Thanks 😄

@safaarudinalias3792 5 ай бұрын

5/5 😊

@wiernyinaczej 8 ай бұрын

My first 5/5🎉

@AccountingStuff 8 ай бұрын

Well done!!

@deebaji 10 ай бұрын

This time 5 out 5😎

@AccountingStuff 10 ай бұрын

Well done :)

@deebaji 10 ай бұрын

@@AccountingStuff 😊

@awesome6357 10 ай бұрын

5/5 😅

@AccountingStuff 10 ай бұрын

Well done :)

@omarmendoza91 10 ай бұрын

5/5

@AccountingStuff 10 ай бұрын

Nice one!

@isaiahhawkins5049 9 ай бұрын

4/5

@AccountingStuff 9 ай бұрын

Good effort!

@ET-TECH-ic3gs 9 ай бұрын

@AccountingStuff 9 ай бұрын

👍

@derrickntshane3853 2 ай бұрын

60%

@AccountingStuff 2 ай бұрын

Good effort ✅

@BryanMuzumi 6 ай бұрын

❤This dude is a blessing guys,like,subscribe and comment for the algo🎉

@AccountingStuff 6 ай бұрын

Thank you :)

@sonisinha2699 9 ай бұрын

5/5

@AccountingStuff 9 ай бұрын

Nice one :)

@gabrielmakoi3905 6 ай бұрын

4/5

@AccountingStuff 6 ай бұрын

Nice one!