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Q. Describe about accounting. Why is it called language of business?
Accounting is known as -an art of recording, classifying and summarizing transactions and events in a significant manner and in provisos of money. It is known as language of business because the financial performance and the financial position of any company need to be conveyed to the stakeholders of any business concern. This can be done by systematically preparing the financial statements and presenting to the interested parties.
Concept of 'Fund' : The word 'Fund' has a range of meanings. several people take it identical to cash and for them, there is no dissimilarity between Cash Flow and Funds Flow
Liz Marett is the chief financial officer for Fulton Restaurants. She delivered the following comments in a recent conference call with analysts that follow the company: "20X5
Q. Show Purchase Returns and Allowances account? Both allowances and returns reduce the buyer's debt to the seller and decrease the cost of the goods purchased. The buyer may d
Note: All illegible answers will be marked incorrect, so please write legibly. If you type and submit the print out of your homework (not email), you will receive 5 points extra cr
How do you round up to one decimal point using percentages? Example 0.207 Thanks
Q. Show depreciation formula with example? The depreciation formula (straight-line) to calculate straight-line depreciation for a one-year period is: Annual deprecation = (
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
Q. Income taxes payable? Taxes withheld from employees comprise federal income taxes, state income taxes and social security taxes withheld from employees' pay checks. The comp
What are the accounting Principles?
Q. Can you explain about balance sheet? The balance sheet, sometimes called as the statement of financial position lists the liabilities, company's assets and stockholders' equ
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