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Q. Describe about Assets?
Assets are things of worth owned by the business. They are as well called the resources of the business. Illustration includes machines, cash and buildings. Assets have worth because a business is able to use or exchange them to produce the services or products of the business. The Assets of Metro Courier Inc amount to USD 38,700. Metro's assets consist of money accounts receivable amounts unpaid from customers for services previously rendered trucks and office equipment.
Q. Measurement in financial statements? In December 1984 the FASB issued Statement of Financial Accounting Concepts No. 5 The Recognition and Measurement in Financial Statement
Profitability refers to a company's ability to obtain profits and positive cash flows and to its ability to obtain an adequate return on invested capital or a company's ability to
Which of the following items will be entered in the cash payments journal of an entity when app applicable subsidiary journals are in use? Merchandise purchased on credit Merchand
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If partners do not draw up a partnership agreement, the provisions of the Partnership Act apply on which statement is true like a provision of the Partnership Act? A Interest on
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WHAT IS THE MEANING OF INVENTORY TURNOVER
Cargin Company uses the FIFO method in its process costing system. The Assembly Department started the month with 15,000 units in its beginning work in process inventory that wer
Q. Summary of significant accounting policies? As part of their annual reports companies comprise summaries of significant accounting policies. These policies help users in int
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