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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.
Q. Financial accounting versus managerial accounting An accounting information system offers data to help decision makers both outside and inside the business. Decision makers
Ken Young and Kim Sherwood organized Reader Direct as a corporation; each contributed $49,000 cash to start the business and received 4,000 shares of stock. The store completed its
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
dividend received rs 100was posted to debit to dividend account. the rectification entry n will be what?
Full form= Winter compensation from contributions.
State about the Cash payments journal A special journal used to record any payment of cash. There would be a check number given to be recorded in journal as well. Source docume
Q. Describe about Expense? Expense -- an expenditure that is chargeable against revenue during an accounting period.An expense leads to the reduction of an asset. All expenditu
.1 INTRODUCTION The world keeps developing new ways and technologies to help do things and achieve a timeline shorter compared to the way it previously used to be done. New techn
how to account for the preference shares held by the investor
1. What are financial accounting, management accounting, and finance? What are their similarities and differences? 2. What information does a balance sheet provide? How do acco
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