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Question 1 Briefly explain the functions of accountingQuestion 2 Explain the three branches of accountingQuestion 3 What is single entry system? What are the advantages and disadvantages of Single entry system?Question 4 Briefly explain the types of business transactionQuestion 5 What do you mean by Bank reconciliation statement?Question 6 What are the different classifications of error?Question 7 How do you rectify the error?Question 8 Briefly explain the characteristics of Bill of exchange
Q. Need for adjusting entries? The income statement of business information all revenues earned and all expenses incurred to generate those revenues during a given period. An i
Current Assets are $70,000, non-current assets are $150,000, current liabilities are $40,000 and long term liabilties are $30,000. What is the debt to equity ratio? 0.47 Stock h
The comparative statements of Lucille Company are presented here. LUCILLE COMPANY Income Statements For the Years Ended December 31 First number are 2012 2012 then 2011
Terry Dorsey started Dorsey Hardware a tiny hardware store two years ago and has struggled to make it successful. The first year of operations effected in a substantial loss in the
Q. What are Accounting software packages? Accounting software packages are normally menu driven and organized into modules such as accounts payable, general ledger, accounts re
A light truck is purchased on January 1 at a cost of $27,000. It is expected to serve for eight years and have a salvage value of $3,000. Calculate the depreciation expense for t
What is the typical time span for long-range plans? A. More than 1 year C. 3-5 years B. 2-3 years D. About 25 years
a 50 petty cash fund has cash of 20 and valid receipts for 40. The entry to replenish the fund would include a
Accounting Principles are the rules and guidelines that companies should follow when reporting and accounting financial data. The general set of accounting principles are the gener
what is journal entry
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