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1. Describe the following with detailed example:
i. Wealth Maximization ii. Profit maximization
2. Describe the functions and limitations of accounting.
3. Prepare a detailed note on ratio analysis and its classifications.
XYZ plc provides engineering and consultancy services to the oil and gas industry. Over the past few years, they have incurred expenditure of £1m researching and developing a new
Q. Choosing an accounting career? How companies have a choice in inventory cost methods among specific identification, LIFO, FIFO and weighted-average. Likewise one of the grea
Q. What do you mean by account? An account is a division of the accounting system used to classify and summarize the decreases, increases and balances of each liability, asset,
1. Whate are the challenges faced in trade and solutions those problems?
DEFINE THE FICA TAX PAYABLE AND SUTA TAX PAYABLE FICA TAX PAYABLE-OASDI. Same account is used to record both employees' and the employer's share. Credited to record taxes i
Q. Example of adjusting entries? Regulate entries bring the amounts in the general ledger accounts to their proper balances before the company prepares its financial statements
.What method of tax accounting used, Taxation
a 50 petty cash fund has cash of 20 and valid receipts for 40. The entry to replenish the fund would include a
1. (a) Define Accounting. Briefly explain the accounting concepts which guide the accountant at the recording stage. (b) "Ledger is said to be the principal book entry and the t
XYZ Technology had $640,000 of retained earnings on December 31, 2010. The company paid common dividends of $50,000 in 2010 and had retained earnings of $500,000 on December 31, 20
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