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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
80 - 20 rule - A common rule of thumb in business which says that 20% of the items produce80% of the action -- 20% of product line produces 80% of the sales, 20 percent of thecusto
What is the full disclosure principle
on april-1,2005,raghu started a business of selling steel pipes and angles.he invested cash of Rs.50,00,000 & opened a current a/c with bank for Rs.20,00,000.He took loan from ICIC
A company has been depreciating its IT equipment over 5 (five )years, but now finds that it is becoming obsolete in 3 years. What does the consistency principle allow the comp
A firm's __________ account is categorized as a current asset. A. equipment B. accounts payable C. bonds payable D. merchandise inventory
Q. Choosing an accounting career? How companies have a choice in inventory cost methods among specific identification, LIFO, FIFO and weighted-average. Likewise one of the grea
1. Double declining method 2. Units of production method 3. Sum of year digit method 4. Straight-line method Depreciation Fund Method Insurance Method Annualy Method
Explain the Recording employer's payroll taxes Debited to an expense account-Payroll Tax Expense. Credited to individual Tax Payable accounts These amounts are then sent
at the end of May he has a voucher for expenditure of $270 and a balance in hand of $30. explain what the imprest amount is
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