The T Account is used to summarize which of the following?
A. increases and decreases to a single account in the accounting system
B. debits to a single account in the accounting system
C. changes in the income statement account over a specific date
D. changes in the balance sheet amounts over a time period
Ans: A. increases and decreases to a single account in the accounting system
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At December 31 year-end, Crain Corporation has an $8,400 note receivable from a customer. Interest of 10% has accrued for 10 months on the note. What will Crain's financial statements report for this situation?
a.) The balance sheet will report the note receivable of $8,400. b.) The balance sheet will report the note receivable of $8,400 and interest receivable of $700. c.) Nothing because the business has not received the cash yet. d.) The income statement will report a note receivable of $8,400.
The ________ operator is used to combine the output from multiple queries into a single result table
A) INTERSECT B) DIVIDE C) COLLATE D) UNION