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Q. What is FOB destination? FOB destination signifies free on board at destination. The seller ships the goods to their destination with no charge to the buyer. Therefore the s
You have been asked to ready a bill for services. What information should be contained in the bill? Ans) Service Provider's Details (i.e) Organization name and address. Ser
WHO PREPARES A TRADING ACCOUNT AND WHY?
Q. Show Approximation of periodicity? Approximation and judgment because of periodicity To offer periodic financial information accountants must often estimate expected uncolle
The book of Deven Verma could not be tallied. The accountant transferred the difference of Rs. 1,270 in the suspense account on the debit side. The following mistakes were found la
preparing trial balance with balance method
Q. What do you mean by Liabilities? Liabilities are the debts outstanding by a business. Usually a business should pay its debts by certain dates. A business acquires many of i
Received $170,000 cash from Electronic Arts, Inc. for service revenue earned in January.
Question 1: What are the kinds of inventory? Transaction inventory Speculative inventory Precautionary inventory Question 2: Explain in brief the invent
Consignor is the person who is the holder of the goods and who distribute the goods to the consignee. Consignee is the person who takes the goods and he just possesses the goods
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