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Answer the following questions:
1. Accounting records events and transactions that have a financial character. Is this a limitation of accounting? If yes give reasons.
2. Resignation by a marketing manager is not recorded in the books of accounts. Why?
3. Book Keeping is not a part of accounting. Do you agree with the statement?
4. Recording the transactions and events correctly and preparing the financial statements are the only objective of accounts. Do you agree?
5. Cash flow statement is an important part of accounting information. Why?
6. The accountant of a firm does not want to give the previous years' figures, a practice followed by the firm since long. Is it a good decision?
Ethical dilemma: I'm a general counsel to a firm owned by two shareholders, including my brother-in-law. They are also directors of company. I found that they are skimming cash out of company and when I protest they offer me the ownership. What step ..
What are the benefits and drawbacks of a sole proprietorship? What is the purpose of the cash flow statement and what information does it provide entrepreneurs and investors?
on june 30 2010 superfast shoes issued 200000 worth of 15-year 9 bonds when the market rate was 10. proceeds were
a. on february 15 paid 190000 cash to purchase american generals 120-day short-term notes at par which are dated
a project will require an initial investment of 750000 and will return 200000 each year for five years. if taxes are
mitchell corporation bought equipment on january 1 2010. the equipment cost 90000 and had an expected salvage value of
Prepare an income statement for the current year ended December 31, 2008 and prepare a statement of owner's equity for the current year ended December 31, 2008.
corio corporation reports that at an activity level of 2600 units its total variable cost is 117390 and its total fixed
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Identify a suitable ERP systems for a state University. What are the primary modules and functions of each.
raw materials 40000work in process 30000finished goods 60000for the current year the company estimated that it would
Prepare a cash budget for the months of July through September 2012. Show supporting schedules for the calculation of receivables and payables. WIll Slopes be in a position to pay off the $30000 one year note that is due on October 1, 2012. If not, w..
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