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Accounting objectives
Accounting has two main objectives:
If the owners of an enterprise want it to earn more profit, they must increase the volume of turnover. As turnover increases, the enterprise must expand physically; as it expands, it will create departments, which deal with different lines of sales or services; there is a limit to the physical expansion at a single site–and the market there is also limited. Hence, enterprises set up branches, so that expansion can be continued. The need then arises to control the assets, liabilities, income and expenditure of the different departments and/or branches.
Powers of trustee (A) Of his own initiative, he may: 1. Sell and transfer any part of the bankrupt's property; 2. Gives receipts for money received; 3. Take all n
Once credit has been extended it is vital to ensure that customers abide by agreed terms of trade. Regular checks on customer accounts for instance using an aged receivables analys
Question: Agatha Co. is a trading company making up its accounts regularly to 31 December each year. At 01 January 2005 the following balances existed in the records of Agat
Following are Nintendo's revenue and expense accounts for a recent calendar year. Net sales ¥2,008,622 Cost of sales 1,864,981 Advertising expense 118,908 Other expense, net 397
Q. What is Depreciation Reserve Fund ? Depreciation Reserve Fund is the fund specially reserved for replacement of assets. Once the assets are purchased from the capital money
The following table represents the demand for a product for the years 1990 to 2007: a. Develop a linear trend line and use it to predict the quantity demanded for 2008,
Bakers Bagels LLC produces and sells 20 types of bagels by the dozen. Bagels are priced at $6.00 per dozen (or $0.50 each) and cost $.020 per unit to produce. The company is consid
Case study Josephine Josephine has just landed her first job out of graduate school. She is lucky enough to be working for one of the Big Four, earning $50,000 per year. S
The intestate leaves one surviving spouse and children The surviving spouse is entitled to: a. The personal and household effects of the deceased absolutely; b. A life inte
Explain in detail about the Sole proprietorship Sole proprietorship, as the name suggests, is where an individual is the sole owner of a business. This type of business is ofte
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