I’m grading first-semester accounting quizzes today and one of the students came up with a new account, one of which I’d never heard before: Account Placebo (No, you don’t get extra credit for figuring out what he really meant.)
Since I am not foregoing any extra credit, did he mean Receivable or Payable or something else?
Hey, there’s money in them thar placebos!!! Who’da thunk???
Receivable, I suspect.
(It doesn’t really matter: the answer wasn’t remotely correct no matter what he meant.)
Ever have to sign someone’s prison release form?
Account placebo = suspense account (?) = an account used for psychological effect but has no real meaning.
Do you still use T accounts in first semester accounting?
^I don’t think T-accounts will ever go away. To put it in SAT-speak,
T-Accounts:accounting :: Drawing a timeline:finance
I hate accounting
Around the corner from the barn where we keep the horses lives a gentleman whose license plate reads:
Given that he used to have that on his Bentley, and now it’s on his Maserati, I suspect that he doesn’t hate accounting.
Reminds me of Leeson´s 88888 error account
or maybe he just likes to fly out of dulles IAD
See? That’s what’s wrong with this country. Some jackass who thinks “I a Ditup” is good grammer, when it’s “I am a Ditup”, drives around in a Maserati and guys like Greenie are drivng Fords. What the hell is a Ditup anyway?
^lol no respekt