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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.
The Bayside Company uses the LIFO cost flow method to value inventory. In the current year, profit at Bayside is running unusually high. The corporate tax rate is also high this ye
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
An accounting ledger that reveals the transaction history and amounts owed independently for each supplier from whom the business gets credit for purchases. The balance in the cust
PROFIT AND LOSS ACCOUNT CONCEPTS: The initial point in accepting the profit and loss account is to be clear about the Significance of "profit". Profit is the return for taki
The total assets of Capp Co. are $600,000 and its liabilities are equal to two-thirds of its total assets. What is the amount of Capp Co.'s owner's equity?
Mission statement for PCAOB and AICPA and how it contributed to GAAP 2-3 pages APA style
The widget industry is perfectly competitive. The industry demand and supply functions for widgets are given below. Q d = 424 - 40P Q s = 40 + 8P a. What is the equi
what is the implications of applying accounting concepts wrongly
Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
the spelling of number is different than code
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