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Problem: (a) Many businesses find it useful to maintain a control account in respect of both their trade receivables and trade payables. Describe why such control accounts ar
This is partly taken from a court case where one of my colleagues was a witness. Suppose that an employee is terminated without cause and that she sues the company for compensation
categories of assets
Q. Availability of fresh issue of equity? A fresh issue of equity finance mayn't be readily available to a listed company or may be available on terms that are unacceptable wit
Sundry Matters 1) The accounting system is also appropriate for departmental accounts. 2) The branch stock account is a practical means of controlling stock at the branch.
Fiscal Policy In a democracy, elected officials of the government create programs for the general welfare of the population. To pay for these programs, the government taxes in
Impact of joint Audit on financial reporting quality
The following items are found in the trial balance of M/s Sharada Enterprise on 31st December, 2000. 10 marks Summer 2013 Sundry Debtors Rs.160000 Bad Debts written off Rs 9000 Dis
Suppose that the risk-free rate is 7% and that the market risk premium is 7%. What is the needed rate of return on a stock with a beta of 1.2? What is the needed rate of retu
What kinds of business ownership exist? Particular form of business ownership has significant implications for accounting purposes and so it's useful to be clear about the main
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