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Explain any two concepts of accounting with examples
Q. Financial statements of business organizations? Business entities may perhaps have many objectives and goals. For instance one of your objectives in owning a physical fitnes
What is the change fund Business that have many cash transactions generally establish this fund, which is an amount of money which is placed in the cash register drawer and is
what is the implication of applying accounting concepts wrongly
Q. What is Merchandise inventory? Merchandise inventory is the cost of goods on hand in addition to available for sale at any given time. To determine the cost of goods sold in
What is the latest change taking place in the accounting world that will make a big difference to the way accountants prepare accounts?
Zack is a farmer who buys his feed and fertilizer from a farmer cooperative. In 2012, Zack purchased $300,000 in feed and fertilizer for the farm and $10,000 of household goods. Be
Determining needed adjustments Adjustments are required since certain changes take place during the accounting period. As time passes, although, the value of the asset is consu
Q. Income statements - Service and merchandising company? We evaluate the main divisions of an income statement for a service company with those for a merchandising company. To
1. What are financial accounting, management accounting, and finance? What are their similarities and differences? 2. What information does a balance sheet provide? How do acco
Q. Advantages of Weighted-average? Weighted-average: Advantages because of the averaging process the effects of year-end buying or not buying is lessened. Drawback Manipulation
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