Explanation

Explanation

Explanation

Fast is both an adjective and an adverb.

Explanation

The 8 Steps of the Accounting Cycle

Step 1: Identify Transactions. The first step in the accounting cycle is identifying transactions. 

Step 2: Record Transactions in a Journal. 

Step 3: Posting. 

Step 5: Worksheet. 

Step 6: Adjusting Journal Entries. 

Step 7: Financial Statements. 

Step 8: Closing the Books.

Explanation

Explanation

Conservation concept states that "an accountant shouldn't anticipate profit, but must provide for all losses". The concept that an accountant shouldn't anticipate profit, but must provide for all losses is known as The conservatism concept.

Explanation

Third step in developing operating budget is making predictions about future. An operating budget is the annual budget of an activity stated in terms of Budget Classification Code, functional/subfunctional categories and cost accounts.

Explanation

A deferred tax liability is a tax that is assessed or is due for the current period but has not yet been paid—meaning that it will eventually come due. 

Explanation

A crossed check is any check that is crossed with two parallel lines, either across the whole check or through the top left-hand corner of the check.

Explanation

Obsolescence is the state of being which occurs when an object, service, or practice is no longer maintained, required, or degraded even though it may still be in good working order.