accounting basics, Accounting Basics

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What do you mean by partnership, Q. What do you mean by partnership? A ...

Q. What do you mean by partnership? A partnership is a non-incorporated business owned by two or more persons associated as partners. Habitually the same persons who own the bu

Measurement process in accounting, Earlier we defined accounting as the pro...

Earlier we defined accounting as the process of measuring, identifying and communicating economic information to permit informed judgments and decisions by the users of the informa

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What are adjusting entries, Q. What are adjusting entries? When you sta...

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Write the difference between budget & budgeting? Ans) An estimation of the revenue & expenses over a specified future period of time. A budget can be made for a person, family,

Enumerate the term- cash discounts, Enumerate the term- Cash discounts ...

Enumerate the term- Cash discounts Offered to encourage prompt and early payment by buyer. Cash discounts are recorded in accounting records of both the buyer and the seller. S

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in cash flow statement, deductions from cash expences and payments to creditor. how do you get this answer

What is the cost of goods sold section, The cost of goods sold section ...

The cost of goods sold section Cost of merchandise sold to customers during a period is subtracted from net sales figure for the same period to get amount of gross profit.  (Ne

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What do you eman by expenditure, Q. What do you eman by Expenditure? Ex...

Q. What do you eman by Expenditure? Expenditure -- an expenditure takes place when something is attained for a business -- an asset isbought, salaries are paid and so on. An ex

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