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Define the term- How are businesses organised
Nearly all businesses which involve more than a few owners and/or employees are set up as limited companies. This means that finance would come from the owners (shareholders) both in the form of a direct cash investment to purchase shares (in the ownership of business) and through owners allowing past profits, which belong to them, to be reinvested in business. Finance will also come from lenders (banks, for instance), who earn interest on their loans and from suppliers of services and goods being prepared to supply on credit, with payment occurring a month or so after the date of supply, generally on an interest-free basis. In larger limited companies, owners (shareholders) aren't involved in daily running of the business; In its place they appoint a board of directors to manage business on their behalf. Board is charged with three major tasks:
? Setting the overall strategy and direction for business;
? Monitoring and controlling its activities;
? communicating with owners and others connected with business.
As an asset The argument for this statement is that the survivorship policy is an investment because eventually the partnership will receive either the surrender value or the s
received 16,000 contribution in exchange for common stock
Can you do the attached quections by Monday?
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Van Aalst Company's comparative balance sheet and income statement for last year appear below: Comparative Balance Sheet
Failure to record depreciation at year end will result in all of the following except Understatement of total liabilities. Overstatement of total assets. Overstatement of net incom
Consolidated acccounts 1AS 27 therefore requires that the holding a company should include the financial results of the subsidiary company in its own financial statements. The
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State the term Reliability- Accounting Information Accounting must be free from significant error or bias. It must be capable of being relied upon by managers to represent
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