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Any activity which you perform is assist if you comprise a set of rules to guide your efforts. Moreover, you determine that these rules are of more value to you if they are standardized. While you are driving your vehicle, you maintain to the left. You are in fact subsequent a standard traffic rule. Not including the drivers of vehicles adhering to such rule, there would be more chaos on the road. The same principle applies to accounting that has evolved over a period of some hundred years and throughout this time certain rules and conventions have come to be accepted as helpful If you are to understand and utilize accounting reports that is the end product of an accounting system then you should be familiar along with the rules and conventions behind such reports.
accounts show the amount of money owed to the firm by customers. A. Supply B. Prepaid C. Receivables D. Payables
on which shares pre acquisiton dividend received
Q. Example of retail inventory method? In Exhibit we display the retail inventory method. In the exhibit the costs (USD 22000) as well as retail (USD 40000) amounts for beginni
A business had always made a provision for doubtful debts at the rate of 5% of debtors. On 1 January 2017 the provision for doubtful debts brought forward from the previous year wa
What do the "transfer" items in the notes to the financial statements relate to? (in the capital assets section; Plant, property & equipment and Intangible assets
#2, The comparative balance sheets and income statements of Worsley Ltd are shown below. Worsley Ltd. Statement of Financial Position as at December 31 Current Assets 20x3
The two fundamental sources of equity in a company are stockholders and creditors their combined interests are called total equities. To discover the equity ratio divide stockholde
COMMON ADJUSTMENTS AFFECTING THE PREPARATION OF BALANCE SHEET ARE: 1. Closing stock : Closing stock come into view on the credit side of trading account and assets side of
Consider the following 2008 data for Newark General Hospitals (in millions of dollars Simple Budget_______Flexible Budget_ Actual Budget__ Revenue______$4.7$____4.8_____$4.5____.
Capital In addition to borrowing from banks and additional sources, all companies obtain finance from their owners. This money is usually accessible for the life of the busines
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