Class Notes (786,419)
Canada (482,179)
Langara College (1,796)
FMGT 1116 (41)
E.Hamer (38)
Lecture

Assets.docx

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School
Langara College
Department
Financial Management
Course
FMGT 1116
Professor
E.Hamer
Semester
Winter

Description
CHART OF ACCOUNTS - ASSETS Currency  includes: coins, bills, cheques and etc.  can be verified by a bank report Accounts Receivable  is increased by credit sales  is decreased by cash accumulated by customers  can be confirmed by checking invoices owed expenses and payments received Notes Receivable  a written promise (like a contract) that indicates the responsibility of a customer that owes money  indicates an agreement between the customer and the company that they owe  indicates when the customer has to pay back the amount that he
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