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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.
Remedies of overtrading
Market determines are useful for analyzing publicly traded corporations. Many of these calculates use stock price, which reflects the market's (public's) expectation for the compan
Q. What do you understand by Goodwill? Goodwill -- in accounting, difference between what a company pay when it buys theassets of another company and book value of those assets
Steps in recording business transactions Look at Exhibit 5 to observe the steps in recording and posting the effects of a business transaction. Note that a source document offe
Q. Cash collection as point of revenue recognition? Several small companies record revenues and expenses at the time of cash collection and payment which may not take place at
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
Describe the term in detail Payroll PAYROLL is very vital for all employees. Employees are under the direct control of employer on a continuing basis. An independent contract
Q. Explain about Equity or net asset? An equity or net asset is the residual interest in the assets of an entity that remains subsequent to deducting its liabilities and in the
Q. Explain FOB shipping point freight collect? FOB shipping point freight collect - Buyer both initially pays and incurs the freight chargers. The proper party (buyer) paid the
A swap valuation method which involves summing and computing the present value of each and every future net settlement and would be required by the contract terms either future s
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