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Should you maintain a separate ledger account for each

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Question - An accountant of a Nishat Mills Limited ignored matching and Revenue Realization principles during the year 2019.Now what will be the effects on the financial statements of Nishat Mills Limited and why should he worry about both principles. Justify your answer with some figurative work?

If you are working in a manufacturing company and you have three accounts in different banks, should you maintain a separate ledger account for each; and should your balance sheet show three different items of amount deposited in accounts? Discuss.

Reference no: EM132623006

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